Lee County Real Estate
As of this morning the MLS for Fort Myersshows a little over 5100 single family homes available for sale that are not short sales. Last month we sold over 1400 homes in Lee County. That gives us an available inventory of approximately 3-4 months of sellable homes.
What I mean by sellable is that they can be sold without waiting for months for bank approval of a short sale. Out of the 5100 homes only about half of those are under $250,000 and only about 1100 of those are $100,000 or less.
Last month there were only 847 homes foreclosed on in Lee County which consists primarily of Fort Myers, Cape Coral, Lehigh Acres, Bonita Springs, Estero, Fort Myers Beach, and Sanibel Island. We are selling nearly twice as many homes as that per month.
There are only two variables that determine the value of a home: supply and demand. Inventories are being reduced. Prices have been heading upward since last summer. Interest rates continue to be extremely low. We continue to have strong demand and supply is decreasing. With the Real Estate market finally correcting itself over the past year here in SW Florida it looks like we are set for sustained growth for the next few years to come.
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