Not Many Homes Are For Sale And Prices Are Up!
Florida remains 2 in the nation in terms of buyer re-location from other states with over 1,000 buyer per day are moving into Florida. While the increase in market values has slowed, they are still markedly higher than last year's numbers. So, what's the breakdown?
In Fort Myers:
* The inventory of homes for sale is at a 13-year record low, decreasing by as much as 30% over last year.
* Median home prices are $285,000. That is up almost 12% over last year.
* Days on market has decreased from a 59 day average down to 40.
Here are the results for year to date activity through March 31, on Fort Myers Beach:
* In 2020 average selling prices for manufactured homes on Fort Myers Beach dropped 12.3% from 2019 values due to Covid.
* Prices have recovered nicely and are now 14.1% above 2020 values at an average of $260,000
* Bay front and canal properties continue to be in demand.
In short, it remains a seller's market.
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Maybe you’ve decided 2021 is the year you start working toward your financial goals and building wealth. Investing in real estate is decidedly one of the best ways to build wealth, but getting started is intimidating. Too often, people count themselves out of investing in real estate because they don’t think they have enough money to get started. The following are key things to know even if you don’t have a big initial investment.
If you’re considering the purchase of a home, you have one big decision to make as you get started, to narrow down your search. You have to decide whether you’ll buy a new home or an existing property. There are pros and cons to each, and you have to weigh them carefully during the decision-making process.
You’ve fallen in love with a house, and you put in an offer—only to discover that you aren’t the only one to feel that way. A lot of markets around the country right now are experiencing high demand and low inventory, meaning bidding wars are common.
