As a real estate agent, it is vital that you know the market. This information was obtained from the Realtor® Association of Greater Fort Myers & the Beach, Inc. and Florida Gulf Coast MLS, Inc. it is believed to be accurate but is not warranted.
2012 Year End Facts and Stats: Local Market Shows Signs of Continued Steady Improvement!!
- 2012 single-family home sales (12,114) have outpaced new listings (11,473) by a margin of 5.6% in the local MLS. Sales out pacing listings ARE typical in a seller’s market; But NOT typical in a buyer’s market. This is a continuing trend from the previous year (2011).
- The median price of a single family home was $116,950 in December of 2011 and $134,000 in December of 2012, a 14.58% increase. In a “normal market”, values increase 5-8%. How many other markets are experiencing this kind of an increase? Not many!
- The total number of single-family homes and condominiums sold in 2012 (16,369) exceeded the total sold for the years of 2005 (13,517), 2006 (9,762), 2007 (6,116) and 2008 (11,177). But, fell short of 2009 (20,198), 2010 (20,232), and 2011 (19,642).
- In December, short sales and lender owned sales represented 36% of total sales and conventional single-family home sales were 64% of total sales. It is hoped this trend continues; pushing the median sales prices higher in 2013.
- The days on market of lender owned homes were 43 days compared to 48 days for conventional home sales and 97 days for short sales. In a “normal market” the days on market, average between 90-100 days.
- Comparing December, 2011 to December, 2012 the number of homes sold as a percentage of the total sold under the $100,000 price point decreased by 12.7%, while at the $100-199,000 price point the number of sales increased by 17.8%. At the $200,000-$499,000 price point the number of sales increased by 18.9% and at the $500,000 and above price point the sales increased by 85.4%. The market reflects increasing sales of homes in higher price points due to the increasing number of traditional sales. This partially explains our increasing median sales price.
- The monthly supply of single-family inventory remains stable. The current 4.0 supply rate reflects a limited supply of inventory. In a “normal market”, typically you can expect about a 3-month supply.
- In December, the sales price to list price ratio was 96%. This means properties sold just 4% below list price. In a normal market the ratio ranges between 93-97%.