These latest real estate market stats for Lee County Forida were just released from the REALTOR® Association of Greater Fort Myers & the Beach -
The median price of homes is trending up - $103,900 in November, that's 9.37% over last month and 25.18% over Nov. 2010
The inventory is low -
Lehigh .8 months
Cape Coral 1.5 months
Fort Myers 2.2 months
Fort Myers Beach 7,5 months
Now the breakdown of sales -
27.3% bank owned
20.49% short sales
52.2% traditional sales - that's up 33.5% over January
Homes are closing faster -
REOs down from 63 days to 22 days
Traditional sales down 121 to 42 days
Short Sales remain slow to close 159 days
What's the cause of this great uptick?
Foreign buyers and investors have been purchasing the lower end of the market with cash, while low interest rates, home affordability are attracting end users; combine this with prices improving, creates a stabilizing market - good news for both buyers and sellers.
For those buyers "sitting on the fence" your window of opportunity is closing.
If you are thinking about buying or selling property in Lee County Florida give me a call and we will discuss the changing market and what it means to you.
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