There are 5178 homes for sale and of these 51% sit at the original asking price. 49% have been reduced in price by an average of $45,000 or just under 12% from the original listing price. Since many homes are relisted now several times before they sell this may be a bit skewed. Still I think it shows that we still have pockets of problems in our market.

There are many sellers who today are still asking a price that is unrealistic. While driving around in Cape Coral this weekend I pull flyers on several homes. I have found several nice, gulf access, no bridges or restrictions, built within the last year for under $800,000. One flyer I pulled was smaller that these homes and older but was priced at $1.2M. Buyers are willing to buy and ready to price meets closer to value. This home, not on the river, 150' canal is priced at $533 / sqft.

It appears that while gulf access lots are selling much slower and at a lower number, sellers are reluctant to or can not because they purchased at the peak, sell at today's market prices.

Homes under $350,000 represented 72% of the home sales while homes under $250,000 were 40% of the total sales. Half of the homes under $250,000 were built in 2003 or later.

 

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Michael Polly

Fort Myers, FL

More about me…

Royal Shell Real Estate, Inc.

Address: 1870 Clayton Court, Fort Myers, FL, 33907

Office Phone: (239) 689-7653

Cell Phone: (239) 839-2468

Email Me

Lee County Florida's Real Estate Market The ins and outs of sticking your toes in the sand when the sun is beating down in December. Finding just the right home or condo in Fort Myers or Cape Coral. Helping people understand to to buy and deal with foreclosures, bank owned REO properties and short sales. Opportunites exist and The Real Deal is my attempt to give you my perspective from the heart of our real estate world here in south west Florida.


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