Real Estate Agents, Brokers, Investors, first time buyers, and these who are relocating to Lee County, in Fort Myers & The Beach, Cape Coral, Estero and Bonita Springs have different ways of looking at where the market is going. In the last year sales in Lee County have gone up over 130%.That is not a surprise considering we have the dubious title of leading the country in foreclosures and short sales.Yes, buyers are coming here in large numbers and want the deals for 60% to 50% on the dollar. Fort Myers and Cape Coral have a terrific choice of low priced homes.
Fresh water pool home with over 1959 SF,3/3, 2006, large screened pool, guest house for around $200K
My clients often ask me " When is the market going to stabilize?" Some say 10 months, some say 12 or more. I think its not right to try to predict the future. We can tell what the market tells us and how much its changing. However there are signs that we are going through either a trend if only seasonal or at least we are getting closer to bottoming down, specially in single homes. With the interest rate at a very yummy low, the attractive FHA loans, even with the predictable tightening on loans and higher down payments for second homes, I have been looking at one particular sign: how many homes are coming in the market on a particular day and how many are Pending and Closed.
In the last 24 hours, and I took this example just because I looked at it closely today, there are 222 New Listings,72 Sold and 111 Pending and 58 Contingent in Lee County MLS. I always thought that, when we will see more and more weeks were the number of New Listings is challenged by the number of homes Sold and Pending,then, we will be bottoming up. I will follow up next week with a similar blog regarding these numbers and I can't wait to see if its a small spike or a serious change in our market.For now this is a Short Fort Myers Market Report or Lee County Market Report but it tells a lot.WE could call it a Lee County Market Trend for now.
For now and regardless of these impressive rise in the numbers of homes sold in the last 4 months, it is clear that if you are looking at Fort Myers area as the place to live or invest, now is the time. Yes buyers, the time is ripe and many of my shrewd buyers/investors have come to the same conclusion. Also, there were many price reduction on this particular day, there are also 42 price increase. This is also a sign.
...and Happy Hunting!
LLoyd Nichols
Right Choice Realty LLC
cell: 239-810-2980
office: 239-463-5217
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Website: http://www.mlsouthwestfloridahomes.com
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