A local TV station called the Ellis Team at RE/MAX Realty Group in Fort Myers and said they had a report from another local Realtor that the past few months were record months for sales. They wanted our opinion on that statement.
We told them we have seen increased buyer activity and sales, but the word record is a strong word and we don’t think we’re back to record levels yet, or anything close to that. What we can say is that buyers are recognizing that homes are affordable again, and back in their price range after 1.5 years of price drops.
Interest rates are also low, and expected to rise about 1/2 percent the rest of the year, so waiting can actually cost a buyer. Buyers are also noticing that the homes that are priced correctly are disappearing fast.
If you’re in the market to buy, you can’t wait or another buyer will beat you to it. The best properties are selling. That’s not to say that all properties are selling, because they are not. Some sellers still have not adjusted to the new reality. The sellers that have adjusted are already sold, their home is pending sale, or it will be soon.
In the next few days we’ll report on home sales in the Fort Myers Cape Coral real estate market.