Luxury Market Report - Lee County FL (12/21)

DECEMBER Home of the CLHMS

TM

LEE COUNTY FLO R IDA www.LuxuryHomeMarketing.com

2021

LEE COUNTY

SINGLE - FAMILY HOMES

LUXURY INVENTORY VS. SALES | NOVEMBER 2021 Inventory

Sales

Luxury Benchmark Price 1: $925,000 $7,500,000+ $6,400,000 - $7,499,999

3

0

$5,400,000 - $6,399,999 $4,600,000 - $5,399,999 $3,800,000 - $4,599,999

4

2

Total Inventory: 251 10

3

Seller's Market

6

2

Total Sales Ratio2: 46%

11

3

$3,200,000 - $3,799,999

13

5

$2,600,000 - $3,199,999 $2,200,000 - $2,599,999

Total Sales: 115

25

5 19

4

$1,800,000 - $2,199,999

17

11

$1,600,000 - $1,799,999

14

8

$1,400,000 - $1,599,999

21

7

$1,200,000 - $1,399,999 $1,100,000 - $1,199,999

27

16

$1,000,000 - $1,099,999

12

$925,000 - $999,999

1

37

19

15 29

18

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 2,999

$1,140,000

3

3

59

120

49%

3,000 - 3,999

$1,247,500

4

4

30

54

56%

4,000 - 4,999

$2,800,000

4

5

13

40

33%

5,000 - 5,999

$1,700,000

5

6

9

20

45%

6,000 - 6,999

$3,447,500

5

7

2

7

29%

7,000+

$5,372,500

6

8

2

10

20%

The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

LEE COUNTY

SINGLE - FAMILY HOMES

13 - MONTH LUXURY MARKET TREND 4 Median Sales Price

$1,589,000 $1,289,900

399

$1,295,000

365

59 Nov-20

294

122

Dec-20

$1,390,000

245 82

Jan-21

$1,485,000

225

215 100

Feb-21

$1,406,250

132

Mar-21

Inventory

$1,325,000

166

Apr-21

$1,350,000

$1,266,000

143

May-21

140

Jun-21

$1,350,000

$1,290,178

270

255

245

224

Solds

96

Jul-21

$1,415,000

273

254 100

77 Aug-21

Sep-21

$1,275,000

251

115

90

Oct-21

Nov-21

MEDIAN DATA REVIEW | NOVEMBER TOTAL INVENTORY Nov. 2020

Nov. 2021

399

TOTAL SOLDS Nov. 2020

Nov. 2021

251 VARIANCE: -37 %

115 VARIANCE: 95 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

Nov. 2020

Nov. 2021

496 VARIANCE: 27 %

$

392

$

59

Nov. 2020

Nov. 2021

SALES PRICE Nov. 2020

1.29m

$

Nov. 2021

1.28m VARIANCE: -1 % $

DAYS ON MARKET Nov. 2020

95.95% 97.67% VARIANCE: 2 %

Nov. 2021

36

19 VARIANCE: -47 %

LEE COUNTY MARKET SUMMARY | NOVEMBER 2021 • The Lee County single-family luxury market is a Seller's Market with a 46% Sales Ratio.

• Homes sold for a median of 97.67% of list price in November 2021.

• The most active price band is $1,000,000-$1,099,999, where the sales ratio is 80%.

• The median luxury sales price for single-family homes is $1,275,000.

• The median days on market for November 2021 was 19 days, down from 36 in November 2020.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3

LEE COUNTY

ATTACHED HOMES

LUXURY INVENTORY VS. SALES | NOVEMBER 2021 Inventory

Sales

Luxury Benchmark Price 1: $575,000 $3,000,000+ $2,600,000 - $2,999,999

$2,200,000 - $2,599,999 $1,900,000 - $2,199,999 $1,700,000 - $1,899,999

7

1 0

Total Inventory: 78

1 2

1

Total Sales: 49 Seller's Market

1 1

Total Sales Ratio2: 63%

4

1

2 2

$1,500,000 - $1,699,999 $1,300,000 - $1,499,999

9

2

$1,100,000 - $1,299,999

12

2 2

$1,000,000 - $1,099,999 $900,000 - $999,999

4 5

3

$800,000 - $899,999

8

4

$700,000 - $799,999 4

$650,000 - $699,999 $600,000 - $649,999

13 8

4 5 5

$575,000 - $599,999

1

9

5

Square Feet3

Price

Beds

Baths

Sold

Inventory

Sales Ratio

-Range-

-Median Sold-

-Median Sold-

-Median Sold-

-Total-

-Total-

-Sold/Inventory-

0 - 1,999

$699,000

2

2

25

48

52%

2,000 - 2,499

$692,000

3

3

10

8

125%

2,500 - 2,999

$849,500

3

3

10

7

143%

3,000 - 3,499

$2,800,000

3

4

3

7

43%

3,500 - 3,999

$2,100,000

3

4

1

1

100%

4,000+

NA

NA

NA

0

7

0%

The luxury threshold price is set by The Institute for Luxury Home Marketing. 2Sales Ratio defines market speed and market type: Buyer's < 14.5%; Balanced >= 14.5 to < 20.5%; Seller's >= 20.5% plus. If >100% MLS® data reported previous month’s sales exceeded current inventory.

LEE COUNTY

ATTACHED HOMES

13 - MONTH LUXURY MARKET TREND 4 Sale Price

$812,500

274

$877,500 $741,250

274

226

56

68

Nov-20

Dec-20

$799,950

$820,000

Inventory

$800,000

$875,000

$770,000

Solds

$813,000

$770,000

$749,444

98

86

$750,000

$676,250

180 124 119 54

Jan-21

64

Feb-21

Mar-21

98

123

Apr-21

81

104

May-21

80

114

82

Jun-21

68

Jul-21

64

Aug-21

54

88

Sep-21

78

58

Oct-21

49

Nov-21

MEDIAN DATA REVIEW | NOVEMBER TOTAL INVENTORY Nov. 2020

Nov. 2021

274

TOTAL SOLDS Nov. 2020

Nov. 2021

78 VARIANCE: -72 %

49 VARIANCE: -13 %

SALE PRICE PER SQFT.

SALE TO LIST PRICE RATIO

Nov. 2020

Nov. 2021

459 VARIANCE: 22 %

$

376

$

56

Nov. 2020

Nov. 2021

96.72% 100.00% VARIANCE: 3 %

SALES PRICE Nov. 2020

$

813k

Nov. 2021

750k VARIANCE: -8 % $

DAYS ON MARKET Nov. 2020

Nov. 2021

62

7 VARIANCE: -89 %

LEE COUNTY MARKET SUMMARY | NOVEMBER 2021 • The Lee County attached luxury market is a Seller's Market with a 63% Sales Ratio.

• Homes sold for a median of 100.00% of list price in November 2021.

• The most active price band is $650,000-$699,999, where the sales ratio is 325%.

• The median luxury sales price for attached homes is $750,000.

• The median days on market for November 2021 was 7 days, down from 62 in November 2020.

Square foot table does not account for listings and solds where square foot data is not disclosed.

4 Data reported includes Active and Sold properties and does not include Pending properties.

3