MARKET AREA UPDATE Year: 2 Report as of: 1Q 2Q 3Q 4Q Market Area (City, State): Fort Myers/Cape Coral, Florida Provided by (Company / Companies): Real Estate Provided by RDC Member(s): What are the most significant trends in your current real estate market? (Attach addenda, charts, graphs, etc. as appropriate) *Market Action Reports included Define Market Area: Urban (city limit area only) Metro Area (as defined by MSA) Other: Please explain: * Single Family (detached) **Sales Price (current) Choose one: Average Median $ 294,29 $ 6,962 **Sales Price (same time prior year) Choose one: Average Median $ 287,1 $ 5,4 Average Days on Market list to contract (current) Absorption Months of Inventory (last 3 months) Number of active listings divided by the average # of sales per month (for the last 3 months) = # of months needed to sell existing inventory Example: Active Listings = 4 Closed sales in the past 3 months = 4 RIGHT: 4,/3 (months)=1,333 (sales per month) 4,/1,333=3.37 months of inventory WRONG: 4,/4,=1 month of inventory REAL ESTATE MARKET DATA # Increase Decreasing Stable # 6.25 # 6.94 Absorption Months of Inventory (same time prior year) # 6.12 # 7.11 Condominiums / Townhomes (attached) # 86 Increase Decreasing Stable Active Listings # 3,21 Closed ( total last 3 months) # 1,536 # # 789 Expired Listings ( total last 3 months if available) # n/a # n/a Change in Home Values 3. % Increase in past 3 months Stable Decreasing in past 3 months Sold LP/SP Ratio (last 3 months) 94.7% 93.6% 3.1 % Increase in past 3 months Stable Decreasing in past 3 months **Average = the result by adding all sales prices and dividing by the number of units sold Median = denoting the middle of the range of values GENERAL ECONOMY How would you rate the overall economic conditions in area as defined above: Mixed Stable Healthy Shrinking Depressed Supply of Listings: (Single family) Shortage Oversupply Balanced ~ (Condo/Town home) Shortage Oversupply Balanced Overall Market Conditions: Active Stable Sluggish Flat Depressed Unemployment Rate: % % 4.9 Average Please check trend: Increasing Decreasing Same Please describe local economic conditions/climate: (draw upon newspaper articles concerning the coming and going of corporations, layoffs, etc.) *Fort Myers experienced the nation s highest decrease in poverty rate, declining 2.92% during the seven-year study period. Fort Myers also earned the nation s top ranking in job growth and median house price growth, along with a ninth-place ranking in population growth. RENTAL INFORMATION Is There a Charge for Rental Assistance: Yes No Outsourced Is Home/Condo Rental Information Available in Your MLS: Yes No Single Family Housing Availability: (3+Bedrooms) Shortage Oversupply Balanced Average Rent 73. Condo/Townhome Availability: (2+Bedrooms) Shortage Oversupply Balanced Average Rent 1347. Apartment Availability: (2+Bedrooms) Shortage Oversupply Balanced Average Rent 12.
Market Action Report January 2 Price Range: All Properties: Condo - Twn Trending versus*: Trending versus*: Market Profile & Trends Overview Month LM L3M PYM LY YTD Prior YTD Prior Year Median List Price of all Current Listings Average List Price of all Current Listings January Median Sales Price January Average Sales Price Total Properties Currently for Sale (Inventory) January Number of Properties Sold January Average Days on Market (Solds) Asking Price per Square Foot (based on New Listings) January Sold Price per Square Foot January Month's Supply of Inventory January Sale Price vs List Price Ratio $9,95 $235,27 $4, $6,962 86 $142 $128 7.6 92.8% $4, $6,962 86 $142 $128 7.6 92.8% * LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year (2) / YTD = Year-to-date Arrows indicate if Month / YTD values are higher (up), lower (down) or unchanged (flat) Property Sales January Property sales were, down 2.% from in January of 2 and 19.4% lower than the sales last month. January 2 sales were at a mid level compared to January of 2 and 2. January YTD sales of are running 2.% behind last year's year-to-date sales of. Prices The Median Sales Price in January was $4,, up 2.8% from $9,95 in January of 2 and up 2.8% from $, last month. The Average Sales Price in January was $6,962, up 1.% from $5,4 in January of 2 and down.3% from $7,571 last month. January 2 ASP was at the highest level compared to January of 2 and 2. 45 4 35 3 25 2 1 5 2 19 14 13 12 11 1 314 447 437 941-487-14 36 373 322 291 311 312 Number of Properties Sold 212 234 364 44 367 289 Median Sales Price and Average Sales Price 244 274 247 44 341 336 277 195 261 249 Inventory & MSI The Total Inventory of Properties available for sale as of January was, up 12.9% from 1,6 last month and up.6% from 1,8 in January of last year. January 2 Inventory was at its highest level compared with January of 2 and 2. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The January 2 MSI of 7.6 months was at its highest level compared with January of 2 and 2. 2, 2, 1, 1, 1,566 1,484 1,414 1,289 Total Inventory & Month's Supply of Inventory (MSI) 1,223 1,136 1,1 1,88 1,7 1,232 1,249 1,494 1,653 1,74 1,643 1,5 1,46 1,45 1,452 1,498 1,584 1,634 1,8 1,98 1,867 1,759 1,8 1,68 1,5 1,422 1,42 1,483 1,6 9. 8. 7. 6. 5. 4. 3. 2. 1.. Copyright Real Estate Price Range: All Property Types: Condo - Twn Data is provided courtesy of Royal Palm Coast REALTOR Association and may not reflect all relevant real estate activity. Real Estate
Market Action Report January 2 Price Range: All Properties: Condo - Twn Market Time 1 The average Days On Market (DOM) shows how many days the 9 average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a 8 Buyer's market, a downward trend a move towards more of a 7 Seller's market. The DOM for January was 86, up 8.9% from 79 6 days last month and up 1.2% from 85 days in January of last 5 year. The January 2 DOM was at a mid level compared with January of 2 and 2. 4 3 The is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the 'mix' of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The January 2 of $128 was down 1.2% from $129 last month and up.5% from 127 in January of last year. Selling Price vs Original Listings Price The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 1% the more of a Buyer's market exists, a ratio at or above 1% indicates more of a Seller's market. The January 2 Selling Price vs Original List Price of 92.8% was down from 94.1% last month and down from 93.5% in January of last year. This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in January 2 was, up 64.3% from 42 last month and up 5.3% from 655 in January of last year. 2 1 145 14 135 13 125 12 1 11 15 1 96% 95% 95% 92% 92% 91% 91% 2, 2, 1, 1, 941-487-14 Days On Market for Sold Properties 7 Selling Price versus Listing Price Ratio 85 86 123 127 128 94.5% 1,566 1,484 1,414 1,289 1,223 1,136 Avg Selling Price divided by Avg Listing Price for sold properties during the month 1,1 1,88 1,7 1,232 1,249 1,494 1,653 1,74 1,643 1,5 1,46 1,45 1,452 1,498 1,584 1,634 93.5% 1,8 1,98 1,867 1,759 1,8 1,68 1,5 1,422 1,42 1,483 1,6 92.8% Copyright Real Estate Price Range: All Property Types: Condo - Twn Data is provided courtesy of Royal Palm Coast REALTOR Association and may not reflect all relevant real estate activity. Real Estate
Inventory / Listings / Sales January 2 Price Range: All Properties: Condo - Twn 941-487-14 This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in January 2 was, up 64.3% from 42 last month and up 5.3% from 655 in January of last year. 2, Inventory New Listings Sales 2, 1, 1, 1,566 1,484 1,414 1,289 1,223 1,136 1,1 1,88 1,7 1,232 1,249 1,494 1,653 1,74 1,643 1,5 1,46 1,45 1,452 1,498 1,584 1,634 1,8 1,98 1,867 1,759 1,8 1,68 1,5 1,422 1,42 1,483 1,6 558 465 339 353 337 382 46 419 356 632 64 55 47 378 366 399 375 4 42 384 655 556 538 441 413 357 323 375 491 42 314 447 437 36 373 322 291 311 312 212 234 364 44 367 289 244 274 247 44 341 336 277 195 231 261 249 F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J Copyright Real Estate Price Range: All Property Types: Condo - Twn Data is provided courtesy of Royal Palm Coast REALTOR Association and may not reflect all relevant real estate activity. Real Estate
Market Action Report January 2 Price Range: All Properties: S Trending versus*: Trending versus*: Market Profile & Trends Overview Month LM L3M PYM LY YTD Prior YTD Prior Year Median List Price of all Current Listings Average List Price of all Current Listings January Median Sales Price January Average Sales Price Total Properties Currently for Sale (Inventory) January Number of Properties Sold January Average Days on Market (Solds) Asking Price per Square Foot (based on New Listings) January Sold Price per Square Foot January Month's Supply of Inventory January Sale Price vs List Price Ratio $32, $429,48 $243,9 $294,29 3,21 $7 $3 6.5 94.6% $243,9 $294,29 $7 $3 6.5 94.6% * LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year (2) / YTD = Year-to-date Arrows indicate if Month / YTD values are higher (up), lower (down) or unchanged (flat) Property Sales January Property sales were, up 7.9% from 453 in January of 2 and.7% lower than the 587 sales last month. January 2 sales were at their highest level compared to January of 2 and 2. January YTD sales of are running 7.9% ahead of last year's year-to-date sales of 453. Prices The Median Sales Price in January was $243,9, up 1.6% from $24, in January of 2 and up 3.8% from $235, last month. The Average Sales Price in January was $294,29, up 2.5% from $287,1 in January of 2 and up 4.9% from $28,481 last month. January 2 ASP was at the highest level compared to January of 2 and 2. Inventory & MSI The Total Inventory of Properties available for sale as of January was 3,21, up 14.2% from 2,82 last month and down.% from 3,22 in January of last year. January 2 Inventory was at a mid level compared with January of 2 and 2. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The January 2 MSI of 6.5 months was at its lowest level compared with January of 2 and 2. 9 8 7 6 4 3 2 1 35 33 31 29 27 25 23 21 19 4, 3, 3, 2, 2, 1, 1, 578 762 775 941-487-14 728 849 785 626 6 621 482 628 Number of Properties Sold 466 625 1 753 78 651 Median Sales Price and Average Sales Price Total Inventory & Month's Supply of Inventory (MSI) 638 3,285 3,28 3, 2,731 2,557 2,473 2,368 2,371 2,52 2,74 2,751 3,1 3,331 3,262 3,125 2,946 2,778 2,6 2,64 586 523 5 2,67 2,782 2,928 2,899 599 453 471 745 3,22 3,351 3,258 3,44 671 76 76 2,871 2,725 2,56 68 639 412 2,56 2,471 2,654 2,89 46 587 2,82 3,21 8. 7. 6. 5. 4. 3. 2. 1.. Copyright Real Estate Price Range: All Property Types: S Data is provided courtesy of Royal Palm Coast REALTOR Association and may not reflect all relevant real estate activity. Real Estate
Market Action Report January 2 Price Range: All Properties: S Market Time The average Days On Market (DOM) shows how many days the average Property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for January was, down 6.8% from 74 days last month and down 1.4% from 77 days in January of last year. The January 2 DOM was at its lowest level compared with January of 2 and 2. The is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the 'mix' of high or low end Properties in the market, the selling price per square foot is a more normalized indicator on the direction of Property values. The January 2 of $3 was up 5.7% from $145 last month and up 3.9% from 147 in January of last year. This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in January 2 was 1,276, up 74.1% from 733 last month and up 7.% from 1,192 in January of last year. Copyright Real Estate Price Range: All Property Types: S 941-487-14 Data is provided courtesy of Royal Palm Coast REALTOR Association and may not reflect all relevant real estate activity. Real Estate Days On Market for Sold Properties Selling Price versus Listing Price Ratio 9 8 7 6 5 4 3 2 1 2 19 14 13 12 11 1 Selling Price vs Original Listings Price The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their 97% original list price. The lower the ratio is below 1% the more of 96% a Buyer's market exists, a ratio at or above 1% indicates more 96% of a Seller's market. The January 2 Selling Price vs Original List Price of 94.6% was equal to 94.6% last month and up from 95% 94.% in January of last year. 95% 4, 3, 3, 2, 2, 1, 1, 137 94.4% 3,285 3,28 3, 2,731 2,557 2,473 Avg Selling Price divided by Avg Listing Price for sold properties during the month 2,368 2,371 2,52 2,74 2,751 3,1 3,331 3,262 3,125 2,946 2,778 2,6 2,64 2,67 2,782 2,928 2,899 77 147 94.% 3,22 3,351 3,258 3,44 2,871 2,725 2,56 2,56 2,471 2,654 2,89 2,82 3 94.6% 3,21
Inventory / Listings / Sales January 2 Price Range: All Properties: S 941-487-14 This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in January 2 was 1,276, up 74.1% from 733 last month and up 7.% from 1,192 in January of last year. 4, Inventory New Listings Sales 3, 3, 2, 2, 3,285 3,28 3, 2,731 2,557 2,473 2,368 2,371 2,52 2,74 2,751 3,1 3,331 3,262 3,125 2,946 2,778 2,6 2,64 2,67 2,782 2,928 2,899 3,22 3,351 3,258 3,44 2,871 2,725 2,56 2,56 2,471 2,654 2,89 2,82 3,21 1, 1, 1,57 1,53 927 84 847 8 78 796 964 942 76 1,2 1,113 1,25 928 889 796 791 822 837 881 873 7 1,192 1,4 984 814 872 833 746 837 511 911 953 733 1,276 578 762 775 728 849 785 626 6 621 482 628 466 625 1 753 78 651 638 586 523 5 599 453 471 745 671 76 76 68 639 412 46 587 F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J Copyright Real Estate Price Range: All Property Types: S Data is provided courtesy of Royal Palm Coast REALTOR Association and may not reflect all relevant real estate activity. Real Estate