The number of sales posted over the 12-month period ending February 28 reflected a 3.5% gain over the preceding 12 months. Sales of homes priced over $2 million reflected a 4.8% gain. Year-to-date sales as of February 28, however, reflected a 15.4% decline when compared to the same period in 2018. Considering that we are only two full months into the year, it’s possible that these early losses can still be offset. Sales will post during our peak months for closings, which run from March through June may change those stats.
Click on the link below to view the Market Report for February 2019 – NA-BN-ES-MI:
Listing inventory grew by 10.2% over the past 12 months, offering welcomed new opportunities for buyers. Despite the increase in the number of homes on the market, numbers reflects a continued balance between supply and demand.
The average selling price for homes that closed during the 12-month period ending February 28 rose by 2.1% when compared to the preceding 12 months. The median price for the same period was static with that of a year ago. This suggests that there is downward pressure on pricing. We will monitor these dynamics closely so that we may keep you informed.
At a recent presentation by Cindy Carroll of Carroll & Carroll Appraisers, Ms. Carroll defined our overall market as stable. She sites, however, that there are pockets with a shortage of supply, areas that are coasting, and other areas showing a loss in value. This shows just how important it is to know very localized dynamics, whether those be by neighborhood, product type, or price-range.
Why choose us?
There’s a long list of reasons why John R. Wood Properties maintains the number-one position for closed dollar volume in the Southwest Florida market. Our expertise is high on that list. Our ability to interpret localized market conditions and translate that into a sound pricing strategy for our sellers will help ensure their success!