In April, the Lee County housing market recorded 1,952 property sales totaling over $1 billion across Bonita Springs, Cape Coral, Captiva, Estero, Fort Myers, Fort Myers Beach, Miromar Lakes, Sanibel, and surrounding areas.
The luxury market continued its momentum, with 156 properties selling at $1 million or more—an increase from 145 high-end sales in March. The most expensive sale of the month was a Gulf-front estate that closed for $10.6 million.
Additionally, sixty percent of the top 10 sales in the county were in golf communities. Luxury golf homes were sold in Miromar Lakes, Grandezza, Bonita Bay, and Quail West, with prices ranging from $3,150,000 to $6,200,000.
At the end of the month, overall inventory stood at 14,804 properties, a slight decrease from 15,309. The market continues to favor buyers, making it an ideal time to explore opportunities if you’re considering a purchase.
April 2025 versus April 2024 Single Family Home Highlights:
- Closed sales decreased 0.8 percent, going from 1,431 transactions to 1,419 sales.
- Pending sales decreased 6.8 percent from 1,627 last April to 1,516 this April.
- Inventory increased 37.4 percent to 9,697 properties for sale, compared to 7,056 homes last year.
- New listings decreased from 1,974 to 1,924, a 2.5 percent drop.
- Median days on market was 58 days, a 16 percent increase, versus April of 2024.
- Inventory of single-family homes for sale ended April with a 8.7-month supply, up from a 6.2-month supply in April 2024
While the inventory of single-family homes declined slightly month-over-month, it remains relatively high. Listings dropped from 9,997 in March to 9,697 in April, ending the month with an 8.7-month supply—down from 9 months in the previous month.
The median sales price also saw a modest dip, moving from $395,000 in March to $390,000 in April. Compared to April of last year, when the median was $425,000, prices are down slightly.
It’s important to note that pricing trends can vary by neighborhood. Inventory levels play a key role—when supply rises in a specific area, prices often soften, creating more favorable conditions for buyers.
April 2025 versus April 2024 Condo Highlights:
- Condo sales decreased from 610 to 533, or a 12.6 percent decline.
- Pending sales decreased 13.1 percent from 573 last April to 498 this April.
- Inventory increased 38.5 percent up to 5,107 condos for sale compared to the prior April when there were only 3,668 units for sale.
- New listings decreased from 852 down to 752, which was a 11.7 percent decrease.
- The median days to contract was 74 days, representing a 42.3 percent increase versus April 2024
- Condo inventory ended April with a 14.3-month supply of properties available for sale, a 72.3 percent increase over the previous year.
In April, condo inventory in Lee County declined by 3.9% compared to March, with 205 fewer units available for sale. The overall supply dropped slightly to a 14.3-month inventory, down from 14.6 months the previous month, maintaining a buyer’s market environment. Sellers should carefully evaluate competing properties to price their listings competitively.
The average days on market (DOM) increased slightly from 71 days in March to 74 days in April. While this is longer than last year’s average of 52 days, it remains well below the traditional 120-day benchmark for properties to go under contract.
The median condo price rose to $302,000, up from $295,000 in March, but it is still lower than last year’s median of $339,700. Given the above-average inventory levels, the market is expected to stay favorable to buyers for the foreseeable future.
Finally, cash transactions made up 67.7% of condo sales, a slight decrease from 68.3% the previous month. Buyers relying on financing should be prepared to compete with a significant number of cash purchasers.
Are you thinking about buying or selling? Give KBRE a call at 239.977.5642 or email us at Office@knowledgeBaseFL.com to help with all of your real estate needs!
