Southwest Florida Real Estate Prices Rise in October. Single family average home prices in Lee County Florida rose 7.6% in October 2014 over last year, up to $250,164, up from last year’s average of $232,526.
Median single family home prices rose too in October, up 17.3% from last year. October 2013 median home prices were $157,000 and this year they shot up to $184,175.
As you can see from the graph, home prices traditionally start making their move in October to the upside and lead-off the season. It should be interesting to watch how sales numbers progress this season.
Here’s what we know. Listing inventory is down 11.8% from last year. Pending sales are rising. Interest rates are low and many people fear they’ll be heading higher in 2015. The stock market is near record highs. People have a quiet confidence as real estate is affordable and stock portfolios look better than they did years ago.
This means that people have the ability to liquidate stocks to buy real estate which is especially important to SW Florida. It also means that many have the ability to sell their current home or borrow against it to buy property in the Sunbelt. This is another notch in SW Florida’s cap.
Combine these financial facts, simple supply and demand, and our abundant sunshine while the weather is cold and snowy back home, and you’ve got a recipe for some strong sales for the 2015 season.
Winter started early and hard for our Snowbirds. Most had just about had it from last year and planned trips to Florida. They were hit with another round of heavy snow and frigid temperatures early in the winter season this year. If they were sick of it last year, they’re beyond tired of it already this year.
When they arrive and are sipping their umbrella drink on the beach they begin to dream and visualize what paradise would look like for them if they moved here. We’ve all done it. Very few people in SW Florida grew up here compared to all the people living here. Many if not most have relocated here from somewhere else, and somewhere else is usually cold this time of year.
We expect the beaches to be packed starting December 26. Reservations are doing well at the beach. Traffic picked up early this year and we expect an influx starting in a few weeks.
I called the Carefree Boat Club in Fort Myers to see if people up North had shown interest in boating down here this winter. They have a Canadian boat club and many Canadians are looking forward to traveling here and checking out the SW Florida boating lifestyle.
All these visitors add to the local economy, and many buy here after seeing how beautiful it is here. I’m not sure we need a Chamber of Commerce to promote SW Florida when we’ve got the beaches, water, umbrella drinks in the sand, golf courses, sun, and warm temperatures.
Throw in Spring Training, year round softball, tennis, and walks around the neighborhood and we’ve got a winning formula. No wonder our local real estate market is heating up!
If you’d like to search for your piece of paradise, visit our website Topagent.com or call us at 239-489-4042 You can search the MLS for free and see homes on the market in real-time. If you have a property to sell, we can help with that too.
Good Luck, and Happy House Hunting! And remember, whether you live here full-time or just visiting, get out and enjoy the water, beach, or golf course. People fly here the world over to enjoy this place. Don’t take it for granted. Get out there and get you some!
Search the SW Florida MLS for Free
[idx-platinum-widget id =”4929-37510″]
To view our Listings in Hi Definition, visit www.HomesinHD.TV or click on our playlist below
Feel free to view our Virtual Tours
Check out Bella Casa Condominiums. We’ll be happy to show you this project in South Fort Myers
RE/MAX Realty Group – Ellis Team
Fort Myers Real Estate Agent
7910 Summerlin Lakes Dr
Fort Myers, FL 33907