By Brett Ellis
Southwest Florida listing inventory rises in October to 5,157 units, up from 4,829 in September. That is a 6.79% rise in just one month. We went back to last year and noticed listing inventory rose 6.09% those same months, so inventory is rising a bit faster this year.
Home inventory was up 16.64% this past September over 2015 and in October it’s up 17.42%. We’ve been mentioning all year 2016 has been a leveling off and balancing market, so rising inventory isn’t surprising. In fact, it was predicted.
November statistics won’t come out until next week. We’ve been studying preliminary numbers and from what we can tell, median and average sales price are going to be fairly even. Perhaps a small gain on median price and small loss on average price. However, we can only track Lee County numbers submitted to our MLS.
If our numbers are correct we may see an uptick in number of closed sales in November. Also frustrating is the fact that they go back and adjust last year’s numbers, so that can influence predictions as well.
Southwest Florida Listing Inventory Rises
We searched active homes on market on December 13th and we …read more
Source:: Top Agent