Everyone’s favorite question is “How is the Market?” – and the answer I provide is it depends where you are looking to buy or having to sell. In Lee County Florida, specifically Fort Myers and Fort Myers Beach, we are going to take a look at Single Family home sales for 2016 versus active inventory and pending sales. The 3 zip codes we are going to examine are 33919 (McGregor near the river south of Colonial Blvd., 33908 (considered true South Fort Myers) and 33931 (Fort Myers Beach). All three of these areas are very desirable and offer excellent amenities to both vacationers as well as full time residents. With a great hospital system, close proximity to the beach and several great gated communities buyers and sellers alike love everything the area has to offer.
The first chart is 33908, and if you look at the top July 2016 was a buyers market. There were 216 single family homes for sale, 30 sold and 29 were pending. In March 2016 there were 260 with 25 sold and only 47 pending sales, so where did the inventory go? Well, this was the highest zip code we examined for expired listings meaning that the sale contract expired and the home is no longer on the market. However, this zip code has the most inventory available of the 3 zip codes we looked at.
Good news for those selling in 33919 because July was a sellers market for this particular zip code. As you can see from the graph immediately below, there were 109 single family homes for sale and 34 were sold and 38 went pending. This has been a very strong area for sellers so far and will continue throughout the remainder of 2016. In this market you will find that the sold price to list price is averaging 94% for 2016. Sellers are getting closer to their ask price than the other three zip codes represented in this update.
Lastly we have Fort Myers Beach, which there were 89 single family homes for sale and 10 were sold and 10 went pending. July was a buyers market on Fort Myers Beach and as you examine the below graph, actives, sold and pending were down compared to June.
Make sure you use a REALTOR that is aware of what the market is doing and that is hyper-local about the activity. Being able to examine what is going on will ensure you get the best price for your home if you are selling or the best price if you are buying. Do not leave any money on the table in this strong real estate market.