Lely Resort Half Time Report 2018

It is that time of year again for the Lely Resort Halftime Report. Looking at closed sales through mid-July, activity would seem to be a mirror image of 2017 activity, but breaking down the numbers show a few differences that may be important to buyers and sellers moving forward. Closed sales volume, practically the same as 2018, accounted for 158 closed sales, just one ahead of 2017 mid-year totals. We see a bit of a change when we compare single family home activity to multi-family activity year to date. Single family homes have represented a 14.5% increase in closed sales this year verses a 8.4% decrease in multi-family (condo/attached villas) home sales. Stand out neighborhoods for single family home sales continue to be Lakoya with its more contemporary styling and finishes followed surprisingly by a few of the older neighborhoods of Lely Island, Masters Reserve and Tiger Island. And even with the increased number in single family homes sales climbing this year we are experiencing a reduction of the average sale price of homes of about 10% compared to 2017, accounting for the bulk of the 1.7 million dollar decrease in closed sales volume year to date. As for multi-family homes Ole has by far had the most activity, and average pricing stayed steady with less than .5% decrease year over year. Active listings for the resort are holding in the 190 range which is a little high for this time of year but not unheard-of, and we have actually seen a slight decrease of days on market towards the 120 day mark. Where do we go from here? I have a pretty good idea. Feel free to give me a call or drop me an email if you have questions or would like the breakdown for a specific neighborhood. I also suggest taking a look at sales activity so far this year at https://seanmeehan.com/lely-resort-2018-closed-sales/ and check back for updates to see how we finish up the year here at Lely Resort.