As we enter the spring selling season, it's important to keep a close eye on the latest Southwest Florida real estate trends. Whether you're planning to buy or sell a home this year, market knowledge is a critical factor in achieving your real estate goals. Our real estate agents always keep an eye on the latest Southwest Florida real estate trends, and we have all of the key details in our Market Report for March 2022.
We begin our look at the trends with an overall picture of Southwest Florida real estate, which saw a slight year-over-year gain in properties sold and a significant increase in average sales price. Overall, Southwest Florida saw 36,390 properties sold during the 12-month period ending March 31, an increase in sales of 3.19 percent. That increase came despite a slight 3.22 percent decrease in new listings, with a total of 35,857 new listings over the same 12-month period. The average sales price for Southwest Florida properties increased by 20.95 percent to $670,785. As of March 31, Southwest Florida inventory stood at 2,456 units with .81 months of supply.
Naples homes for sale also saw gains during the 12 months through March 31, with 14,463 properties sold and a 2.35 percent year-over-year increase in sales compared to the preceding 12 months. There were 13,802 new listings in Naples, a decrease of 7.6 percent compared to the previous 12 months. The average sales price in Naples was $873,463, an increase of 16.64 percent. Inventory for Naples was 1,121 units as of the end of March, which equates to .93 months of supply.
Sales decreased slightly in Marco Island, with 1,311 properties sold during the 12 months ending March 31, a 1.65 percent decrease compared to the preceding 12 months. New listings decreased by 14.15 percent, from 1,420 to 1,219. However, the average sales price saw a significant increase of 32.15 percent to $1,163,666. Inventory for Marco Island checked in at 149 units and 1.36 months of supply.
Sales also saw a slight decrease in the Bonita Springs-Estero market, with a 4.10 percent decrease in sales to a total of 4,066 properties sold. New listings were down by 7.56 percent, with a total of 3,926 during the 12 months ending March 31. The average sales price rose by 24.32 percent to $586,202. Inventory for Bonita Springs-Estero stood at 257 units, with .76 months of supply.
Sales rose in Fort Myers, with a 2.84 percent increase and 7,197 properties sold over the 12-month period ending March 31. New listings checked in at 6,960, a year-over-year decrease of 4.43 percent. The average sales price in Fort Myers was $405,926, an increase of 22.99 percent. Fort Myers inventory was 284 units and .47 months of supply.
Fort Myers Beach
Fort Myers Beach saw a slight year-over-year decrease in sales of 1.20 percent, with 575 properties sold in March. New listings in Fort Myers Beach also decreased slights, with 612 units sold and a decrease of 3.47 percent. Fort Myers Beach saw one of the largest increases in average sales price, with a 32.00 percent increase to $815,535. Inventory in Fort Myers Beach checked in at 65 units and 1.36 months of supply.
Sanibel & Captiva Islands
With 689 properties sold over the 12 months ending March 31, Sanibel & Captiva saw a 1.32 percent increase in sales compared to the previous 12 months. New listings decreased by 13.57 percent, with a total of 567 posted, while the average sales price increased by 29.58 percent to $1,324,278. Sanibel & Captiva inventory stood at 50 units and .87 months of supply.
The largest sales increase in March came in Cape Coral, where 8,089 properties were sold over the 12 months ending March 31, an increase of 10.81 percent. New listings were also on the rise in Cape Coral, with a 9.57 percent increase to 8,624 new listings. The average sales price rose by 32.03 percent, checking in at $440,735. Inventory for Cape Coral was 530 units, with .79 months of supply.
Whether you're ready to buy, sell, or simply want to analyze all of your options, our local real estate team is here to help with all of your Southwest Florida real estate needs. Contact us to buy and sell homes in your favorite Southwest Florida communities.