Southwest Florida Real Estate Update: Shifting to a Buyer's Market

The Southwest Florida real estate market (covering Collier, Lee, and Charlotte Counties) is continuing its shift from the intense seller's market of the past few years, offering new opportunities for buyers.

Here is a quick snapshot of the current trends:

Key Market Dynamics

• Inventory is Up: Active listings have risen significantly across the region. Areas like the Fort Myers/Naples metro have hit buyer's market territory with a 7-month supply for single-family homes and a 10.6-month supply for condos. This increase gives buyers more choices and time to shop.

• Prices are Cooling: Median sale prices for both single-family homes and condominiums have generally seen a modest year-over-year decline across the region. This is a market correction, not a crash, but it means sellers are becoming more competitive.

• Days on Market is Rising: Homes are taking longer to sell, averaging around 58 days in SWFL. This indicates that buyers have stronger negotiating power, and sellers are more open to concessions, such as help with closing costs.

• Affordability Slowly Improving: While Collier County remains the least affordable, the improved inventory and softening prices have led to a modest improvement in housing affordability in Lee and Charlotte counties.

What This Means for You

• For Buyers: This is an excellent time to re-enter the market. The increased inventory means less competition and less chance of a bidding war. Be prepared to negotiate price and terms.

• For Sellers: Strategic pricing is critical. Overpriced homes are lingering, while accurately priced properties continue to attract strong buyer attention. Listing before the traditional snowbird season rush could help you avoid a flood of competing inventory.

Demand remains strong due to continued migration, but the market equilibrium has shifted, creating a much healthier environment for purchasers.

Thinking of making a move? Let's connect today!

~ Felicia