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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% […]

March 22, 2024/by dave swanson

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What’s Happening in Southwest Florida Real Estate

Quick Market Overview: What’s Happening in Southwest Florida? As of early February 2024, a whopping 16,078 properties are up for grabs in Southwest Florida, offering a diverse range for potential buyers. Fort Myers, in particular, leans toward a buyer’s market. This means there’s an abundance of homes available relative to the number of buyers. For savvy buyers, this situation […]

March 7, 2024/by dave swanson

March 7, 2024/

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Southwest Florida Housing Market

March 22, 2024/by dave swanson

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What’s Happening in Southwest Florida Real Estate

March 7, 2024/by dave swanson

March 7, 2024/

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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.

March 22, 2024/by dave swanson

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What’s Happening in Southwest Florida Real Estate

Quick Market Overview: What’s Happening in Southwest Florida?

As of early February 2024, a whopping 16,078 properties are up for grabs in Southwest Florida, offering a diverse range for potential buyers. Fort Myers, in particular, leans toward a buyer’s market. This means there’s an abundance of homes available relative to the number of buyers. For savvy buyers, this situation presents an opportunity to negotiate favorable terms and prices.

Spotlight on Fort Myers: High Demand with a Twist

Fort Myers and Naples are buzzing with activity as people from the Midwest and Northeast flock to these sunny havens. As of early March 2024, the housing stock has reached an 8-month supply, signaling a buyer’s market. However, there’s a subtle twist: buyer interest has slightly waned due to rising interest rates (although they’ve recently eased from their peak).

Looking Ahead: Prices and Predictions for 2024

In February 2024, the median home sold price in Fort Myers stood at $369,734, marking a 3.8% increase from the previous year. Additionally, the median price per square foot was $243. The outlook for 2024 remains positive, driven by strong demand from seasonal visitors and cash buyers seeking their slice of paradise. Despite a slight dip in buying activity, the market’s foundation remains solid.

Advice for Buyers: Why Waiting Might Not Be Wise

If you’re contemplating a purchase, seize the moment! Get your finances in order and present a compelling offer. Remember the golden rule: “Marry the house, date the rate.” Buying now and potentially refinancing later can pay off handsomely. So, let’s navigate this exciting real estate landscape together! 🏡🌴

March 7, 2024/by dave swanson