SOUTHWEST FLORIDA REAL ESTATE MARKET
Everything in between
Marco Island to Cape Coral, Sanibel/Captiva
Marco Island to Cape Coral, Sanibel/Captiva
HURRICANE IAN IMPACTS ON REAL ESTATE
Changes
Sanibel/Captiva
in Newly Pended Sales - Post-Storm vs Pre-Storm* Declines -40% -18% -4% -40% -35% -30% -25% -20% -15% -10% -5% 0%
Ft Myers Beach Naples West of 41 *10/12/22 11/08/22 compared to 8/31/22 9/27/22
HURRICANE
REAL ESTATE Changes in Newly Pended Sales - Post-Storm vs Pre Storm Increases 4% 3% 7% 5% 8% 0% 1% 2% 3% 4% 5% 6% 7% 8% 9% SWFL SWFL $1MSWFL $1M+ Naples Naples East of 41 *10/12/22 11/08/22 compared to 8/31/22 9/27/22
IAN IMPACTS ON
Ian
Sales
Week
/ Last Year / This Year
Southwest Florida Newly Pended
by
Pre-Pandemic
Southwest Florida Newly Pended Sales by Week 2020-2022 % of Increase Compared to 2017-2019 pre-pandemic trends Market Peak Onset of Pandemic Hurricane Ian
Southwest Florida Inventory by week Jan 1, 2022 – Nov 7, 2022 1,892 5,263 5,516 What’s “Normal” ? 10k+ Listings in Nov
Southwest Florida Closed Sales – Avg SP/LP% Jan, 2021 – Oct, 2022 97% 97% 98% 99% 99% 100% 100% 100% 100% 99% 100% 100% 100% 101% 101% 101% 100% 99% 98% 97% 97% 97% 75% 80% 85% 90% 95% 100% 105% Avg SP/LP%
Southwest Florida Closed Sales - % Selling Above List Price Jan, 2021 – Oct, 2022 6% 9% 13% 20% 24% 29% 29% 30% 30% 29% 30% 29% 32% 35% 42% 41% 35% 27% 19% 12% 10% 8% 0% 10% 20% 30% 40% 50% % Above List $ What’s “Normal” ? 5% +/- (Oct ’19)
Southwest Florida Closed Sales – AVG. DOM Jan, 2021 – Oct, 2022 70 66 58 48 36 28 24 20 20 21 22 25 21 22 20 16 16 17 21 28 24 38 0 20 40 60 80 Avg DOM What’s “Normal” ? 96 Days (2019)
% of Sales with Financing Jan, 2021 – Oct, 2022 53% 48% 48% 48% 46% 48% 49% 50% 49% 49% 48% 46% 43% 41% 43% 40% 41% 47% 49% 48% 51% 46% 25% 30% 35% 40% 45% 50% 55%
Southwest Florida
Southwest Florida
% of Inventory Taking Price Reductions (weekly)
2021 – Nov 7, 2022 0% 2% 4% 6% 8% 10% 12% 14% 16%
Jan,