The Lee County real estate market 2024 tells a story of change. More homes hit the market, buyers took their time, and the balance of power started shifting. But real estate always reflects life transitions. Some people downsize for retirement, others buy their first home, and families relocate for work, school, or new opportunities. No matter the season of life, someone always needs to buy and someone always needs to sell.
If you’re making a move in 2025, here’s what last year’s numbers mean for you.
Key Takeaways (TL;DR)
- Single-family homes stayed steady while condos faced price declines.
- Inventory grew across the board, giving buyers more choices.
- Time to sell increased, with homes taking 2–3 months to close.
- Sellers had to focus on pricing and presentation to stay competitive.
- Buyers entered 2025 with more negotiating power, especially in condos.
Lee County Real Estate: What Happened in 2024?
Single-family homes held steady, while condos and townhouses struggled with slower sales and price adjustments. Interest rates played a role in slowing activity, inventory climbed, and sellers had to get more strategic. Buyers, on the other hand, enjoyed more options and time to decide.
Lee County Single-Family Homes in 2024
The single-family market stayed resilient:
- Closed sales: 13,514 (down 1.1% from 2023)
- Median sale price: $400,000 (+0.3%)
- Average sale price: $594,776 (+10.2%)
Higher-end homes continued moving, even as sales volumes dipped.
Selling took longer. Median time to contract rose to 57 days (+35.7%), and median time to sale stretched to 96 days. Inventory climbed 29.4% to 8,204 active listings, creating 7.3 months of supply. This signaled a shift toward a buyer’s market. Cash buyers slowed, making up 31.5% of sales (down 9.5% year over year).
Lee County Townhouses and Condos in 2024
The condo and townhouse market showed more strain:
- Closed sales: 4,538 (down 16.4%)
- Median sale price: $315,000 (-11.3%)
- Average sale price: $411,093 (-12.8%)
Inventory surged 44.8%, leaving an 11-month supply—firmly a buyer’s market.
Time to contract climbed to 61 days (+35.6%), and median time to sale rose to 103 days (+33.8%). Cash purchases still dominated at 62.2%, but even those slowed.
Florida Statewide Real Estate Overview – 2024
Across Florida, single-family pending sales ended December up 1% year over year, while condos and townhouses dropped 13.5%. For official, detailed data on 2024 market trends—covering sales volumes, prices, inventory levels, and more—you can download the Florida Realtors® Year-End 2024 single-family housing summary here.
- Single-family closed sales: 253,000 (down just under 2% from 2023)
- Condo/townhouse closed sales: 94,000 (down 10.5%, lowest since 2010)
Insurance costs and reserve requirements added pressure, especially in coastal areas.
New listings increased statewide, with single-family listings up 9.5% and condo/townhouse listings up 11%. Despite talk of condo owners rushing to sell under new regulations, the trend was more about buyer caution than seller panic.
Lee County Real Estate Market: Where Things Stand in 2025
Looking ahead, the market continues to stabilize.
- Single-family months of supply: 4.7 (slightly in seller’s market territory)
- Condo/townhouse months of supply: 8.2 (clear buyer’s market)
Prices tell the story:
- Single-family median price: $415,000 (+1.2%)
- Condo/townhouse median price: $315,000 (-4.5%)
Even with fewer sales, Florida’s single-family dollar volume rose 2.5% to $152 billion. Condo and townhouse dollar volume fell 9% to $45 billion.
Southwest Florida Real Estate Outlook for 2025
For sellers, pricing strategically is key. Buyers have choices, and overpriced homes sit on the market. Move-in-ready homes still attract attention, but condition and presentation matter.
For buyers, inventory creates opportunity. Condos and townhouses in particular offer room to negotiate. With fewer bidding wars, the focus shifts to patience and smart offers.
Interest rates remain a factor, but the market is finding balance. Strong properties still sell, but with more measured timelines.
Want to understand how these cycles work? Download our Free Real Estate Cycle Guide.
FAQs About the Lee County Real Estate Market 2024
Sales dipped slightly, but prices held steady, with median prices at $400,000 and higher-end homes driving averages upward.
Sales and prices both declined, with an 11-month supply signaling a buyer’s market in 2024.
Florida’s single-family sales were only slightly down statewide, but condos faced sharper declines across the state.
Single-family homes remain steady, while condos and townhouses favor buyers. Inventory is higher, but the market is stabilizing.
Both buyers and sellers have opportunities. Buyers benefit from more inventory, while sellers can still succeed with smart pricing and strong presentation.
Final Thoughts
The Lee County real estate market 2024 reflected a year of adjustment. Prices held firm for single-family homes, while condos and townhouses created opportunities for buyers. With higher inventory, both sides have room to negotiate.
If you’re planning a move in 2025, focus on strategy. Sellers need competitive pricing and strong presentation, while buyers should take advantage of more options and time.
Explore current Southwest Florida listings to see what’s available now. For guidance on choosing the right partner, see our article on how to find the best real estate agent in Fort Myers.
Most homeowners feel overwhelmed when it’s time to move. At Worthington Realty, we provide personalized guidance and clear communication so that you feel heard, valued, and confident in your decisions.
