Andrew Darda
O: (239) 319-2357
C: 239-849-3883
Mike Darda
O: (239) 319-2357
C: 239-851-6494

Rising Lee County Home Sales Sound a Positive Note for 2017

Monday, January 09, 2017

We’re thrilled to be able to start off our blogs for 2017 with some very good news for home sellers in Lee County.

The latest stats, for November, recently issued by Florida Gulf Coast MLS, show that single family home sales were up by 16% compared to the previous year.

There was also a 3.6% rise in median sales price for the same period, while condo sales also improved by 11%.

Looking more locally, it’s worth noting that the Sanibel/Captiva areas saw the biggest gains, with no less than a 112.5% jump in sold single family homes.

Other areas that experienced substantial improvements included Bonita Springs (54%), Lehigh Acres (27.9%) and Estero (28.1%).

Inventory of available properties for sale also improved as high winter season approached, with condos up by 38% year on year and single family homes up by 14.4% in the same time frame.

Single family residence inventory supply consequently rose to 5.2 months, an almost 21% improvement on November 2015. This is very good news for better buyer choice, an important component in the purchasing decision equation.

We thus begin the New Year with very positive market conditions and there are so many reasons to be optimistic about prospects moving forward.

All the predictions are for another very successful year in real estate, with more millennials entering the market, and not just for entry level homes. A recent report by Corelogic predicts that homeowners’ net worth will rise by 5.2% during this year.

While some will point to the recent higher mortgage rates, these are a pretty direct response to greater confidence in the economy going forward, following the stock exchange rally that has been ongoing since November’s election.

Current rates are, in fact, still very, very competitive from an historic perspective and are arguably the result of a long overdue market correction.

We’d be delighted to discuss your real estate aspirations for the year ahead. Why not contact us today for an informal chat.

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