An Update of
Southwest Florida Real Estate
How do we determine whether we are in a Buyer’s, Seller’s
or Balanced market? One of the best indicators is to calculate the average time
it takes for a property to sell. We call this the Absorption rate: (It is the number
of homes or condos on the market for sale at any time, versus the number of
sales in the past year). We are reaching a balance market of about a 1 year
supple. Overall, inventory of homes and condos is down considerable which has
stabilized pricing and even shown some upwards movement. The Sanibel Board of
Realtors showed a 6% increase in sales volume during the second quarter of 2012,
while John R wood was up 16%. We also lead all other Real Estate companies on
the islands by selling more of our own listings in-house than any other
company.
Sanibel &
Captiva Islands
·
10 million dollar plus sales with two sales of
gulf front homes sold at over $ million.
·
Condo sales of those priced under $800,000 were
up 48% year to year in the 2nd quarter.
·
The number of condominiums sold in the second
quarter was the highest in 7 years!
·
While Captiva single family homes were about the
same as last year, South Seas Resort condo sales were the best since 2005.
Fort Myers and
Southwest Florida
·
Fort Myers pricing increased 12% year to year
according to the Kiplinger Report.
·
Greater Fort Myers led the nation in cities
where home prices increased the most.
·
309 Sales priced above $1 million in the
Naples/Bonita market equaled a 12% gain.
Choose a Realtor who works with the best! Choose John Petel with John R. Wood.
Call John at 239-560-4960 or visit our website at www.teampetel.com
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