You’ve probably heard the word “Season” and associated it with the traditional 4 seasons.  here is only one  real estate Season in Southwest Florida and we’re in it now.  People down here don’t think about the changing of the seasons as our weather is nice all 12 months of the year.  High season here runs January through April, depending on when Easter is.  Some people go home before taxes are due the middle of April.

Each year we know January will be a slower month for closings, and it builds until about June.  This makes sense because many June closings happened in April.  We expect showing to increase starting mid-January.  I just checked showing statistics for our MLS and the average home is receiving 2.2 showings the first 8 days of January in the $200-$450k price range in Fort Myers.  Other price ranges vary.  Last year showing stood at 2.4 showings the first 8 days.

Only One Real Estate Season in Southwest Florida

We have more showings this year because there is more inventory, but it’s down slightly per home.  I wouldn’t read too much into 8 days of data.  As you can see from the graph, February closings should be slightly higher than January.  March is when you’ll really start to see the increase, if 2018 is anything like past years.

If you’re a buyer, you probably want to get your bids in before other buyers start buying all the listings.  If you’re a seller, now is the time to get your home on the market, as the rush is coming.

If your home is on the market and not receiving offers, you’ll want to make sure you’re priced correctly by February.  Your best chance will be February and March, so you don’t want to miss that market.  Even though we have a rush of buyers here in Season, over-pricing is a sure-fire way to make it not sell.  Buyers will purchase, but nobody likes to overpay.

Sellers want to make sure their home is properly exposed.  We have more buyers here in Season, but if they don’t see or know about your home, it won’t stand out.  We take extra measures to make sure our listings stand out.  For instance, a sign is not enough to expose a home.  We use advanced digital marketing techniques, as well as traditional print marketing like the newspaper and yellow pages.

You might laugh and say traditional doesn’t work, but we have sold some properties directly off these old and proven mediums.  As for digital, this encompasses everything on the Internet to email to mobile advertising.  We have an advanced way to target buyers looking for exactly what you must sell.

For instance, Google, Bing, Facebook, and others know if you’re shopping for back to school clothes or for curtains for your home.  They’ll serve up ads to you because they know that’s what you’re currently looking for.  The same is true for housing.  We know how to reach waterfront buyers, golf course buyers, condo buyers, first-time home buyers, 55+ buyers, and on and on.  Whatever you’ve got to sell, we know how to reach the buyer.

It is quite advanced, and it really works, as long as your home is priced correctly.  We can send all the interested buyers your way, but if the home is over-priced it still won’t sell.  If you’re shopping for an item online and it’s $85 on one site and the same or similar item is $65 on another, people will purchase the better value.  Sellers must turn their focus off what features and upgrades cost and more on the overall value.  You must think like a buyer.  What would you do if you were the buyer?

We can help you price your home correctly.  We offer advanced marketing for your home too, so we can get your home sold for top dollar and faster than the average Realtor.  All Realtors are not the same.  Call Sande or Brett 239-489-4042 Ext 4 to list your home, or speak with one of our friendly and knowledgeable buyer agents to purchase your next home.  Visit www.LeeCountyOnline.com to search the MLS like a pro for Free!

Ellis Team Weekend Open Houses

Open Saturday 1-4 PM

Cape Coral Lakefront Pool Home

.68 Acres   Gated Community

 

Open House Saturday 1-4 PM

Waterfront Condo With Marina

Thinking of Selling?

Find Out What Your Home is Worth for Free!

 

Welcome to the New Year.  Let’s look at some things we’re watching this New Year in our January 2018 Southwest Florida real estate market update.

Many agents we talk to are focusing on the fact that sales are down 12.4% in November.  Others notice that total dollar volume was down 10.5% in November.  Those are two data points we also look to gauge the overall health of the market, but it must be done in context.

January 2018 Southwest Florida Real Estate Market Update

January 2018 Southwest Florida Real Estate Market Update

We’re choosing to look at other data points right now and we’ll explain why. New pending sales are up 8.1%.  That bodes well for closed sales heading into season. New listings rose 9.8% in November over last year.  One could argue that sales have been riding even or ahead of last year, but down from 2016 levels is the fact that inventory has been low.  We’ve had a low inventory market for the past few years.  It is slightly rising now and that may be a good sign.

This gives home buyers more choices.  It also signals home sellers that have failed to sell that it’s time to re-evaluate their price.  If the market hasn’t responded to your price in 2017, it may not in 2018 either if inventory rises.  A new year is always a good time to re-evaluate and make changes.

While new listings increased in November, total available inventory fell.  Pending inventory increased which took out some available inventory.  Declining dollar volume in November makes agents feel like the market has slowed, but it’s a now indicator.  That now is a direct result of the hurricane.  The future indicators tell us the market could be picking up steam.  Therefore, it’s dangerous to evaluate the market by a sole month or single data points.  They must be evaluated in their entirety, and even then, it’s difficult to predict the future with certainty.

We always tell people season begins to pickup around January 12-15th, and it builds from there.  Very soon the 2018 season will come into focus.  We see some good signs moving forward.  As always, proper pricing matters.

Proper Pricing Critical For Home Sellers

No matter if it’s an up, down, or sideways market it’s critical to price your home to today’s standards.  Overpricing will get you in trouble regardless of how you perceive the market.  We do not have a runaway market to the upside.  We do not have a falling market.  The 2018 Southwest Florida real estate market is holding its own.  We have buyers and sellers, and that’s a good thing.  Buyers want to pay a fair price and sellers want to sell at a fair price.

As an agent, buyer, or seller, you can’t ask for anything better than that.  The difference between success and failure could well be determined by the agent you select.  Proper pricing and presentation to the market are critical.  Not every agent has the same skills or background to properly present your home to the market.

A great website to check out prices in your neighborhood is www.LeeCountyOnline.com You can be alerted when new properties come on the market in your neighborhood.  You can even get an online evaluation of your home for free.

Buyers love this website too because it is updated instantly directly from the MLS.  It has all the properties, so you don’t miss out on new properties hitting the market or outdated data.

Always Call the Ellis Team

If you’re looking to buy or sell, you should call the Ellis Team at Keller Williams Realty 239-489-4042.  We make sure our buyers and sellers understand the market.  Buying and selling real estate is easy when you have a pro backed with data that can help you make the best decision for your family.  It’s scary when you’re not confident you’re making the right choice.  An experienced agent backed by years of research can really help.  We’re not here to sell you anything.  The Ellis Team is focused on accomplishing your goals.

Call us if we can help, or research yourself at www.LeeCountyOnline.com  Good luck and happy New Year!