The shift we’ve been talking about is still underway, but like last month, it’s not all bad news. If anything, May confirmed what we already suspected. Buyers are gaining more leverage, and sellers need to be smart and strategic.
🏠 Single Family Homes
Across Southwest Florida, we saw continued price softening in several regions, but also signs of real buyer activity.
Fort Myers saw its median price drop to $465,000, which is down 9.7 percent compared to last year.
Cape Coral came in at $370,000, down 6.3 percent.
Lehigh Acres dipped slightly to $322,634, down 7.8 percent, but closed sales actually rose 16.1 percent and pending sales surged 42.4 percent.
North Fort Myers saw prices slip 2.2 percent year over year, with closed sales down 27.3 percent.
Sanibel experienced a larger drop, with the median price falling 16.1 percent to $1,052,500 and closed sales down 4.3 percent.
Inventory continues to rise across the board. Lehigh Acres inventory is up 50.3 percent, Fort Myers is up 28.9 percent, and North Fort Myers climbed 13.9 percent. Homes are taking longer to sell in every market, averaging 48 days in Lehigh, 62 in North Fort Myers, and 71 in Fort Myers.
Pending sales are the bright spot. Fort Myers saw a 16.7 percent increase, Cape Coral is up 11.9 percent, and Sanibel rose 26.3 percent. This tells us the demand is still there when homes are priced and presented well.
🏢 Condos
The condo market is still feeling more pressure than the single family side.
Fort Myers condos dropped 12 percent to a median of $265,000.
Cape Coral condos came in at $235,250, down 9.5 percent.
North Fort Myers condos took a sharp 31 percent hit, falling to $150,000.
Sanibel condos fell 8.2 percent to $675,000, and Fort Myers Beach condos dropped 8.7 percent to $447,500.
Closed sales were also down in most areas. Fort Myers fell 24.3 percent, North Fort Myers dropped 27.8 percent, and Fort Myers Beach saw a 45.5 percent decline.
Average days on market are stretching. It’s now 77 days in Fort Myers, 94 in North Fort Myers, and 99 in Fort Myers Beach.
Supply is building. Fort Myers Beach condos have 25.9 months of inventory, Sanibel has 21.8, and North Fort Myers is up to 16.1.
One positive note: Lehigh Acres condos saw the strongest numbers across the board. The median price jumped 25.4 percent to $178,000, and closed sales increased by 50 percent. Inventory remains modest at just 8.2 months, far healthier than coastal condo markets.
🧠 What This Means for You
This is not a crash. It’s a market reset.
We’re no longer in the fast-paced, hyper-competitive market of 2021 or 2022. Things are stabilizing. Inventory is growing, and prices are adjusting. Buyers are gaining leverage, and sellers need to meet the market where it is.
The good news? Buyers have more to choose from and more time to make the right decision. The great homes that are priced right are still selling.
If you're planning to make a move this year, strategy is everything. Check stats below for each individual region.
