Part 6/7:
The condo market in Charlotte County is in dire straits, with a staggering 31% decline in average sales price year-over-year. This enormous drop signifies a significant shift in buyer sentiment. The inventory levels here are eye-watering, boasting 13.2 months of supply, underscoring the challenges faced by sellers in a market overpowered by listings.
Lee County and Collier County
Lee County is also feeling the effects of the larger trend, with a 2.4% increase in closed single-family home sales, masking drops in average sales price. Inventory levels here mirror Charlotte County closely, sitting at 8.4 months, indicative of a slow-moving market.