The team at John R. Wood Properties spends an extensive amount of time analyzing and interpreting the latest trends to leverage this data into a successful sale that benefits both buyers and sellers. If you're still hoping to achieve your real estate goals before 2020 ends, you're not alone. Our real estate agents have all the details in our November Market Report.
November Sales in Southwest Florida
In November, overall sales in Southwest Florida increased by 15.1 percent year-over-year, with nearly 30,500 properties sold. New listings fell by almost 10 percent, though the average sales price for these properties increased by nearly 13.2 percent, increasing from $443,908 to $502,355. The months of supply sat at 2.79 months, and inventory stood at 7,099 as of November 30th, 2020.
Comparing these numbers to the data listed for October 2020, we're pleased to see that overall sales continue to increase from year to year. However, we are not surprised to see that new listings continued to decrease slightly, as many sellers and buyers have put their real estate goals on hold for the holidays. Let's peel back the data a little more and determine which market areas were seeing the most impactful activity during November.
Naples
The Naples market proudly claims an increase of 18.66 percent in closed sales and an increase in average sales price by 13.13 percent. Nearly 12,000 sales were closed at an average price of $680,624. Though new listings fell by a minor 1.52 percent, the current inventory stands at 3,362 with a months of supply level of 3.41 as of November 30th.
Marco Island
The Marco Island market also saw an increase in closed sales and the average sales price. Closed sales came in at 1,080, an increase of 37.06 percent. The average sales price increased by 9.03 percent to $832,854. Current inventory sits at 402 with a months of supply level of 4.47.
Bonita-Estero
The Bonita-Estero area also saw an increase in closed sales and average sales prices, with a slight decrease in new listings. New listings fell by 0.50 percent, closed sales increased by 14.78 percent, and the average sales price climbed by 5.12 percent to $436,783. Months of supply sits at 2.98 while current inventory rests at 884.
Fort Myers
Fort Myers saw a substantial decrease in new listings, falling by 29.40 percent. With fewer homes on the market, closed sales increased by 7.64 percent, and the average sales price increased by 12.28 percent. As of November 30th, the current inventory sits at 1,209, and months of supply rests at 2.32.
Fort Myers Beach
Fort Myers Beach saw a dramatic increase in closed sales, an increase of 24.44 percent. Their average sales price increased as well to $590,667, an increase of 11.10 percent. There was a slight decline of 3.23 percent in new listings. Months of supply sits at 4.35, and the current inventory is 181.
Sanibel & Captiva Islands
The Sanibel & Captiva Islands market broke the mold as the only area to see an increase in new listings, up by 3.63 percent. They followed suit with other Southwest Florida markets by increasing the closed sales, this time by a whopping 39.69 percent. However, this did cause the average sales price to fall by 1.21 percent. Months of supply sits at 5.47 while the current inventory level is 244.
Cape Coral
The Cape Coral market saw a 7.19 percent decline in new listings. They also saw an 11.71 increase in closed sales and an average sales price increase of 10.27 percent. Current inventory sits at 817, while months of supply is 1.46.
This slice of paradise will remain one of the most desirable areas to call home well into the New Year. If you're interested in learning more about our Naples homes for sale, please feel free to contact us at your convenience.
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