It’s hard to believe that we’re nearly halfway through 2019— but now that it’s May, you may be wondering if the summer is good time to sell your house or condo.

The data might surprise you.

When it comes to selling a home in SWFL, the summer months are an ideal time to list your property—and the reason for this is linked to something known as the absorption rate. 

Simply defined, the absorption rate is the rate at which properties in a certain area, sell in a defined period of time. To calculate the absorption rate, realtors divide the number of monthly sales by the number of properties that were on the market.

If there were 100 homes on the market in a SWFL community in a given month, and 10 of those homes were sold, the absorption rate would be 10/100, or 10%. When areas have a high absorption rate (20% or greater), this means that homes are not only selling quickly- but homeowners are operating in a sellers’ market.

So, what does this have to do with listing your home in the summer?

There are two key things that happen in the local real estate market during the warmest months of the year. First, snowbirds tend to take their homes of the market. Second, part-time real estate agents aren’t typically selling.

When fewer homes are available, and fewer real estate agents are selling, absorption rates start to climb. As a result, people who list their homes during the summer not only increase their odds of selling, they increase their odds of selling at a higher price.

As of April 2019, home inventory levels in Bonita Springs, Estero, Cape Coral, Fort Myers and Naples, FL as of April 2019 were as follows:

·         Bonita Springs- The cumulative monthly supply of single-family homes and condos during the month of April was recorded at 7.7 months, which reflects a buyers’ market. The April 2019 absorption rate for this community was recorded at 13.1%.

·         Estero- The cumulative monthly supply of single-family homes and condos during the month of April was recorded at 6.5 months, which reflects a buyers’ market. The April 2019 absorption rate for this community was recorded at 15.4%

·         Cape Coral- The cumulative monthly supply of single-family homes and condos during the month of April was recorded at 5.4 months, which reflects a buyers’ market. The April 2019 absorption rate for this community was recorded at 18.4%.

·         Fort Myers- The cumulative monthly supply of single-family homes and condos during the month of April was recorded at 5.7 months, which reflects a buyers’ market. The April 2019 absorption rate for this community was recorded at 17.5%.

·         Naples- The cumulative monthly supply of single-family homes and condos during the month of April was recorded at 8.1 months, which reflects a buyers’ market. The April 2019 absorption rate for this community was recorded at 12.4%.

Let our team help you achieve your residential real estate goals this spring and make it happen with the best possible outcome!  Here is a handy list of unique sales tools we provide our buying and selling clients. Whether buying or selling, our tools are PROVEN to help you get the most from your transaction!