When it comes to the SWFL housing market, our busiest months in terms of sales volume are February through July. This year, we won’t see the across-the-board bidding wars that we experienced in 2021 and 2022, but nonetheless, buyer activity is beginning to ramp up for the spring season.

As you can see from the graph, SWFL buying activity begins trending upward in January and February, with a big uptick in March. This February, our total sales volume is down about 17% from February of 2022. We’re expecting to have another big run in March, although we will likely fall slightly short of the 2021 and 2022 numbers. The decrease in total sales volume is caused primarily by higher interest rates which have lowered buying power.

Although not as piping hot as last year, the SWFL housing market is still very strong and is now much more stable. Here’s why:

Days to Sell

‘Days to sell’ refers to the number of days that a home is on the market before accepting an offer. Prior to the 2021-2022 real estate boom, the median number of days to sell in Southwest Florida typically hovered right around 50. During ‘the boom,’ we had several months in a row where it took less than 10 days to sell most homes.

As mortgage rates began to climb in mid-2022, the median days to sell followed suit. Since November of 2022, we’ve seen a median of about 23 days to sell. This increase is giving buyers a better shot at securing their dream homes. For sellers, a few extra days on the market will just give you more time to plan your next move.

Months of Inventory

Total months of inventory refers to how long it would take to sell all current listings at the current rate of sale. Housing inventory levels have a direct relationship with days to sell referenced above, as you can see from the graph below.

We’ve seen about 6 months worth of inventory across Southwest Florida since the end of 2022. Typically, 0-4 months is considered a seller’s market, 5-7 months is a balanced market, and 7+ months worth of inventory is a buyer’s market. So, we’re currently in a very balanced market.