Fort Myers 2021 Market Report
Fort Myers is a gateway to the Southwest Florida region and a major tourist destination within Florida, served by Southwest Florida International Airport (RSW).
The real estate market saw quarter to quarter growth throughout 2021 and especially in Q4 when limited supply curtailed sales volumes but not prices.
In the table below note the Quarter by Quarter increase in median price per sq.ft. (PSF). When looking at price increases it is important to remember that building costs have also gone up substantially in the last 2 years. (more…)
Guide to Buying and Selling in Southwest Florida
The goal of this document is to acquaint you with the process of buying and selling in Southwest Florida.
Buyers
Showings
Listings appear in MLS with a link to ShowingTime to schedule showings. The advantage of this method for a buyer is that I can monitor the number of showings and gain insight into activity.
Two recent examples: a house near me in North Naples was listed at $415,000 on a Friday with Showings starting on Saturday. I could see that showings were back-to-back- to-back and on Sunday the listing agent asked for offers by 5 pm. The house sold for (more…)
What I like about Living in a Gated Community
When people are thinking of buying a property in Florida one of the questions is whether to buy in a community with a Homeowners’ Association or a stand alone property. Here’s what I like about living in a gated community.
The gate
While it can at busy times cause a delay for service vehicles entering the property it also provides a sense of security for residents knowing that every car entering the property has to be cleared with an owner
Landscaping
Wednesday is my favourite day of the week – it is the day the landscaping crew of 3 comes. In addition to cutting the grass, they prune and trim trees and plants and will do other work on request.
Just this last week the palm trees were pruned and – best of all – mulch was laid throughout. No more trips to Home Depot for me! (more…)
Foreign Buyers May Return in November
WASHINGTON – President Joe Biden will ease foreign travel restrictions into the U.S. beginning in November, when his administration will require all foreign nationals flying into the country to be fully vaccinated. Fully vaccinated passengers will not be required to quarantine.
In my recent market reports I wrote: “As buyers from more foreign countries are allowed to visit the US again, those buyers – who were largely absent last year – may well add further demand to an already extremely tight market.
As for the future what remains true is that “as it’s now possible to work from anywhere in the world, why not live and work in paradise?”
Traffic is starting to pick up in Southwest Florida as we see the first of the winter arrivals. If you are interested in buying please contact me to beat the rush!
Read these recent articles:
Naples Housing Market August Review
Mortgage rates back to 3% – again
Yes Virginia, it is Still a Sellers’ Market
Andrew Oliver
REALTOR®| Market Analyst | DomainRealty.com
Naples, Bonita Springs and Fort Myers
Andrew.Oliver@DomainRealtySales.com
m. 617.834.8205
www.AndrewOliverRealtor.com
www.OliverReportsFL.com
_____________
Market Analyst | Team Harborside | teamharborside.com
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
www.OliverReportsMA.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Fort Myers July 2021 Housing Market Summary
The 3-month median price for Single Family Homes in Fort Myers continued to rise sharply reaching $380,000 for the May-July period quarter, some 27% higher than a year ago:
While sales are seeing the familiar summer decline, they are doing so from a high level: (more…)
Whay are people moving to Southwest Florida?
“Both Collier and Lee counties have been among the very strongest population growth markets in the entire nation over the past five years,” said Brian Alford, Florida director of market analytics for CoStar Group, which specializes in worldwide real estate data. “There have also been numerous corporate relocations and expansions over the past decade, including large expansions over the past couple of years by firms such as Gartner and Arthrex, adding even more jobs.” (Naples Daily News)
Some of the workers live in Bonita Springs, about halfway between Naples and Fort Myers. Incorporated only at the start of this century, Bonita for the first time barely edged into the Top 50 of the most populated in Florida, joining Cape Coral, Fort Myers and North Port.
“Demand to move here has always been strong, but lately, low interest rate policy, and coupled with lockdown fatigue up north, increased demand even more, which explains the larger-than-expected increases in population down here,” said economist Christopher Westley, dean of Florida Gulf Coast University’s Lutgert College of Business. (more…)
Fort Myers June Housing Market Summary
The 3-month median price for Single Family Homes in Fort Myers continued to rise sharply, reaching $368,125 for the April-June quarter, some 25% higher than a year ago, and breaking decisively upwards from the $250-300,000 range of the previous 5 years:
Dramatic price movements often occur when the number of sales is small, but that has not been the case in Fort Myers, where sales have exceeded 1,000 per quarter for the last year:
(more…)
Real Estate: It’s Not a Bubble Unless it Pops
A bubble, by definition, pops and prices plummet.
“Look at buyer demand. Look at homeowner equity. Prices could stop going up for a bit – but it’s not a bubble.” (more…)
Fort Myers May Housing Market report
The rolling 3-month median price (a more reliable guide than 1-month numbers) for Single Family Homes sold in Fort Myers reached $360,000, while the median Condo price was $205,000.
The following charts show the 12-month rolling figures for both median prices and sales in the Fort Myers market from January 2008 through May 2021 and clearly demonstrate the strength of both median prices and sales. (more…)