Monthly Market Report May 2024

It's time once again to delve into the latest real estate data, with a close look into the trends from our full Monthly Market Report. Summer is a popular time to shop for homes, and local knowledge can give you an edge over the competition. Our real estate agents have the latest data for you in our Southwest Florida Market Report for May 2024.

 

With 23,736 properties sold in the 12 months ending May 31, 2024, sales in Southwest Florida were down 4.01 percent from the preceding 12-month period when 24,727 properties were sold. New listings increased 16.33 percent, from 33,870 to 39,402. The average sales price rose 2.68 percent, from $794,528 to $815,827. As of May 31, 2024, inventory for Southwest Florida stood at 13,602 units and 6.88 months of supply.

 

Up next, Naples luxury homes for sale. There were 8,859 properties sold in Naples during the most recent 12-month period, a decrease of 6.45 percent from the preceding 12-month period when 9,470 properties were sold. New listings were up 13.59 percent, from 12,281 to 13,950. The average sales price increased 3.54 percent, from $1,075,912 to $1,113,971. Inventory for Naples checked in at 5,071 units and 6.87 months of supply.

 

Sales on Marco Island were up 14.15 percent in the most recent 12-month period, increasing from 728 to 831 properties sold. New listings increased 19.69 percent, from 1,163 to 1,392. The average sales price increased 10.13 percent, from $1,417,851 to $1,561,491. Inventory for Marco Island was 584 units and 8.43 months of supply.

 

With a decrease from 2,957 to 2,835 properties sold, sales in Bonita Springs-Estero were down 4.13 percent compared to the preceding 12-month period. New listings were up 14.30 percent from 3,630 to 4,149, while the average sales price rose 2.19 percent, from $767,056 to $783,867. Inventory for Bonita Springs-Estero stood at 1,325 units and 5.61 months of supply.

 

With 4,618 properties sold, sales in Fort Myers were down 9.93 percent from the preceding 12-month period when 5,127 properties were sold. New listings were up 17.74 percent, from 6,777 to 7,979. The average sales price increased 1.50 percent, from $502,008 to $509,515. Inventory for Fort Myers stood at 2,548 units and 6.62 months of supply.

 

Sales in Fort Myers Beach decreased 2.41 percent in the most recent 12-month period, decreasing from 332 to 324 properties sold. New listings were down 9.92 percent, from 615 to 554. The average sales price rose 5.98 percent, from $868,494 to $920,440. Inventory for Fort Myers Beach checked in at 290 units and 10.74 months of supply.

 

There were 356 properties sold in Sanibel-Captiva during the most recent 12-month period, an increase of 2.01 percent from the preceding 12-month period when 349 properties were sold. New listings increased 6.54 percent, from 627 to 668. The average sales price was static at $1,327,511. Inventory for Sanibel-Captiva was 314 units and 10.58 months of supply.

 

With 5,698 properties sold, sales in Cape Coral increased 2.30 percent from the preceding 12-month period when 5,570 properties were sold. New listings were up 22.19 percent from 8,411 to 10,277, and the average sales price decreased 1.80 percent from $487,962 to $479,195. Inventory for Cape Coral was 3,281 units and 6.91 months of supply.

 

With an increase from 194 to 215 properties sold, sales in Pine Island-Matlacha were up 10.82 percent from the preceding 12-month period. New listings were up 18.31 percent, from 366 to 433. The average sales price decreased 2.77 percent, from $582,318 to $566,170. Inventory for Pine Island-Matlacha stood at 189 units and 10.55 months of supply.

 

When you're ready to plan your next move with Southwest Florida real estate, our experienced, local team is always here to help. Contact us to buy and sell homes in your favorite Southwest Florida communities.