Southwest Florida sales prices climb to highest levels of 2021 in November. Official sales numbers were just released and the median price of a rose to $376,500 while the average price rose $533,697. This represents a 18.0% and 26.3% price increase respectively.
The median price last November was $319,150. In October 2021 it was $368,000. The median price rose 2.31% last month alone. The average price last November was $422,452. Average price rose over $111,000 in the past year and it rose 6.56% in the past month.
Sales Prices Climb to Highest Levels
As you can see, prices are still appreciating rapidly. Inventory is down 38.6% from last year and declined 5.08% in the last month. Sales are doing well, inventory is falling, and prices are rising rapidly. Our market couldn’t be hotter, and yet it seems somebody said something like that last month. The truth is, the market is hot, and it could get hotter.
Florida is where everyone wants to be. We have always been known for sun, sand, beach, palm trees, and moderate year-round temperatures. Who wouldn’t want that? Lately Florida has also been known for low Covid numbers, low taxes, and low government mandates which is enticing to people who want to enjoy their lives or run a business. We are seeing customers move here from practically every state. Of course, some states stand out more than others.
What Will 2022 Bring?
We don’t see much change coming in 2022. People love how Florida is run, and that looks to remain. What we cannot predict is how other states will govern in the coming years. Florida will continue to see a tax and climate advantage. For the reasons and the leadership reason we expect the Florida real estate market to continue its journey in 2022.
Of course, we will keep our eye on the overall economy, interest rates, and political changes. All these factors have led to a Florida advantage, and any changes would need to be evaluated. If the phone calls we are receiving from out of state buyers are any indication, 2022 is going to be another good year.
We are also hearing that people are flying into SW Florida in masses again. In fact, the airport has released statements that there are no parking spaces available. People are having to drive in circles until spaces open. This tells us more people have moved to SW Florida in the past year as I don’t recall this issue before. It makes sense because the roads seem busier this year too.
Best SW Florida Real Estate Online Search Engine
We don’t have to prove how great things are in Florida. The numbers speak for themselves. If you are interested in buying, now would be a great time. Prices are doing well, and as interest rates rise the mortgage payments will only go up. The best website to search for new listings is www.LeeCountyOnline.com It is updated every few minutes and has the latest listings, unlike some of the other websites.
It is also a good time to sell. Prices are at their highest. Many sellers do not even realize how much their home is worth. One of the best websites to check your value is www.SWFLhomevalues.com. It has the most accurate data we have found. While no computer estimate will ever be 100% accurate, this website is one of the best. Regardless of the price, it will remind you of your new price going forward, so you can keep track of the direction of the market.
If you have questions about the market, give Sande or Brett Ellis a call at 239-610-3500 We can show you how we get Top Dollar for our listings. If you are a buyer, we might have a new listing coming on the market you might want to know about. Our team is a great resource in SW Florida.
Happy New Year! Let’s make 2022 your year!