Southwest Florida Housing Market
The Southwest Florida housing market is transitioning from a hot seller’s market to a more balanced one. Here’s a breakdown:
- Sales: Compared to the crazy years of 2020-2022, sales are down a bit, but they’re catching up to the pre-boom levels. Think of it as a cool down, not a freeze. February sales were just 2% lower than the average February sales from 2017-2019.
- Inventory: More houses are coming onto the market (new listings), but not as quickly as sales are happening. This means there aren’t too many houses sitting unsold for long periods.
- Supply and Demand: In most areas, things are pretty balanced between buyers and sellers. It’s not a free-for-all for sellers anymore, but there’s still healthy interest.
- Price Watch: The good news for buyers is that the rapid price increases have stopped. The average sales price has been stable over the past year.
- Exceptions: There are a few neighborhoods where there are more houses for sale than interested buyers. In these areas, sellers might need to be more flexible with their asking price to attract buyers.
Getting Help: A local real estate agent can be your secret weapon in this market shift. They can give you the inside scoop on specific neighborhoods, including how supply and demand affect prices in your target area. Their expertise can help you buy or sell your house with the best possible outcome, whether you’re a buyer navigating a more balanced market or a seller in a neighborhood with higher inventory.
