2016 started out slow regarding resales and remained that way thru the year. Resales at Lely Resort dropped 26% from 258 closed resales in 2015 to 192 closed resales ending 2016, with a 23% reduction in dollar volume year over year for a total of $88,580,542 in total resales at the resort. Stock Development has fewer than 20 spec homes and 4 models left in Lakoya and Signature Club and Cipriani hope to be sold out in 2017. We have seen a 27% increase in inventory of available properties for sale with 224 active resale listings as we start the year. I hope you find some of this information interesting and helpful in your evaluation of the market. The charts below represent closed resales (transactions) since 2004, as well as the price-per-square-foot averages for single and multifamily homes in the Lely Resort resale market. Here are a few notable facts for 2016:
* Stock Realty and its realtors were involved with 35% of all closed resales at Lely Resort in 2015.
* Single family home sold price decreased 1% on average from 2015 (based on average dollar per square foot).
* Multifamily home sold price held steady compared to 2015 year to date (based on average dollar per square foot).
* Single family home sales are down 22% from 2015
* Multifamily home sales are down 28% from 2015.