January 2024 SW Florida Market Stats

Our January 2024 numbers are in and we wanted to share those with you. These figures were taken from our local MLS.

Here’s a brief recap of the key highlights from January in the Southwest Florida real estate market:
January 1: Mortgage rates stood at 6.67%, with 237 new listings, 229 homes sold, and 283 listings expired. The median sales price was $401k.
January 8: Mortgage rates saw a slight increase to 6.8%. New listings surged to 574, but sold properties dropped to 193. The median sales price dipped to $395k.
January 15: Mortgage rates decreased to 6.69%. New listings remained high at 595 but sold properties decreased further to 167. The median sales price spiked to $478k.
January 22: Mortgage rates increased to 6.92%. New listings decreased to 529, while sold properties dropped to 146. The median sales price saw a slight decrease to $429k.
January 29: Mortgage rates slightly decreased to 6.88%. New listings increased to 544, and sold properties saw a bump to 206. The median sales price decreased to $417k.
Overall, January showcased fluctuations in mortgage rates and market activity, with variations in new listings, sold properties, and median sales prices. Despite these changes, the Southwest Florida real estate market demonstrated resilience and remained active throughout the month.
(Contributed by Brayden Milner)
Are you wondering how this January compares to last January? Well, it's almost like a carbon copy. Considering just SFH (single-family homes) in our MLS we found:
January 2023
1,247 Total Sales
Average Sold Price: $823,736
Median Sales Price: $480,000
Average DOM (Days on Market): 35
SP/LP (Sales Price to List Price) 95.39%
January 2024
Average Sold Price: $863,357
Median Sales Price: $480,000
Average DOM (Days on Market): 44
SP/LP (Sales Price to List Price) 94.99%
As you can see besides a few fewer sales and a slightly higher DOM they are almost identical. So, if you didn't make your move in 2023 maybe 2024 is your chance!