The Cape Coral/Fort Myers area was recently recognized as being one of the top 10 most affordable housing markets in the world, according to an international survey. The survey originated from Demographia Inc., which ranked Cape Coral/Fort Myers seventh in the world. Lee County was behind some of the most economically depressed areas in the nation, including Detroit, Flint and Lansing, Mich.
According to Realtor statistics, the median home price in the greater Lee County area was between $89,000 - $90,000 in December 2009. A total of 1,340 homes were sold in that month, an improvement of more than 300 homes from December 2008. Realtors on both sides of the bridge are not surprised by where Cape Coral and Fort Myers ranked on that list. They say now is the time to buy, especially if you're someone who's looking to stay in the new home for three to five years. "It's extremely affordable right now," said Christie Knight, president of the Realtor Association of Greater Fort Myers. "We strongly believe our momentum will increase because of the extended tax credit for first-time home-buyers, and because interest rates are historically low. We feel very confident." The inventory of existing homes has decreased year over year, and Realtors are feeling optimistic about 2010.
Most feel the bottom has already been hit, and there isn't anywhere to go but up!
Philip H. Busse PA
Coldwell Banker Residential Real Estate
Paradise Partners
239-220-7717
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