The Lee County Market Report is changing. The market is seeing its first rise in average prices sold.  Many Lee County real estate analysts also believe that we have hit the bottom of this free fall. Prices were up over 3% in May compare to April of 2009, If we continue to have a steady rises in average price sold  in the next 90-100 days, then we will know that its not just a fluke.

 If we have not yet hot bottom yet, we must be very very close! For example sales rose about 70% from over 800 sold properties in May 2008 to over 1400 sold in May of 2009.   Still the average price was about $86,000 this last month to over $205,000 in May 2008. In brief: if someone bought a home in April 2009, that buyer's home appreciated over 3% in one month! The numbers will tell the story in the next quarter, and before that in July 2009. Another point is sure: the lower end inventory has dropped. Its harder to find a decent deal under $65,000 in Cape Coral and Fort Myers. That is another sign.

Happy Hunting!  

 LLoyd Nichols
Right Choice Realty LLC
cell: 239-810-2980
office: 239-463-5217
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