We were having a one on one training session with one of our agents this week and the conversation came up about summer home sales.  He was excited because he thought this summer was going to be good for home sales.  And yet, so many agents out there talk about spending summers up north and taking time off because sales are slow in the summer.  Their perception becomes their reality.  Read on to find out why summer great time for Southwest Florida home sales.

If they believe sales are slow and take the summer off, sure enough, their sales will be slow to non-existent.  And they will be right, and their decision to take the summer off will have been justified.  Over the years my mother Sande and I would just laugh, as we raked in sale after sale in the summer.  For us, year-round sales were good, and summer was better.

Summer Great Time For Southwest Florida Home Sales

I went back and looked at MLS sales stats from 2000-2003.  As you can tell, home sales would begin climbing in Feb and generally peak during the summer.  After 2005 we began a steep decline in prices which ultimately led to the foreclosure crisis.  This article isn’t about all that.  We have plenty of other articles on our Blog about that.  During the recovery, the typical home buyer changed.

We see signs that we’re returning to the normal home buyer process.  It would be too easy to assume that all home buyers relocated from up north.  For a period, it seemed that way, but things are not always as they seem.

Traditionally Southwest Florida homeowners made their moves in the summer.  They owned businesses or worked in the service industry and were quite frankly too busy in season to think about moving.  Kids were in school, work was busy, and buying or selling a home couldn’t be the top priority, until summer came.

Keep in mind, summer is the busy selling season up north too, so any relocations were dependent on that sale up north.

After the housing correction, many SW Florida homeowners were trapped in their homes.  They couldn’t make a move.  They lost so much equity they couldn’t afford to sell, and they were busy working on their businesses too that may have suffered.  As years have progressed, we’re seeing signs now that many homeowners are choosing to make a move.  They finally have equity back in their home.  Their incomes have returned to normalcy.

Some wish to downsize, while others have growing families.  Many homeowners wish to change lifestyle or prefer a different location.  Whatever their reason, summertime is the best time for locals to address their situation.

Our agent was correct.  Summertime is a great time for home sales, if you’re present and working the market.  The numbers don’t lie.  Sales are happening in the summer.  The only real question is who’s going to make them.

I remember hearing an agent say years ago that nobody wanted to buy in Lehigh.  Really?  I looked in MLS and found there were lots of sales in Lehigh, so clearly somebody was buying there.  The truth is, that agent didn’t want to sell in Lehigh because they didn’t know the market, it was too far out, or they didn’t like the price point.  The reality is that agent found a way to justify why not to sell.  It’s like the argument that nobody buys in the summer.  If you want to tell yourself that, then indeed sales will be down for you, and you’ll be right.

Many sellers need to sell in the summer.  Realize that home sales occur all months of the year, and really any month is a good time to sell if your home is priced correctly and marketed heavily.  Sure, a hurricane might disrupt a month here or there, but overall, we have a pretty stable and steady market.

To shop for your dream home, go to www.LeeCountyOnline.com  If you have a home to sell, call Brett or Sande Ellis 239-489-4042 Ext 4.  And don’t forget to vote us Best Real Estate Team in SW Florida in the News Press poll.  www.bestswfl.com

Good luck and happy home selling!

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While pulling data for the latest monthly supply of inventory we noticed some increases in buying activity in certain price ranges.  Today we thought we’d bring you the latest monthly supply numbers and answer what price ranges are hot in SW Florida real estate market.

What Price Ranges Are Hot in SW Florida Real Estate

The overall months’ supply of homes on the market today stands at 4.2 months.  5.5 months’ supply is considered a balanced market, so overall, we’re in a seller’s market.  However, as we all know, there are segments in the market and supply changes by price range.

Obviously by looking at the chart, anything $250k or under is the sweet spot for this market.  However, anything up to $400k isn’t too bad either.  So where did we see a pickup in home sales since we last published this report?

What Price Ranges Are Hot in SW Florida Real Estate?

We saw a nice gain in sales in the $200-250 range.  For the past 365 days there were 2,177 sales compared to a rolling 365 day count back in April of 2,059.  That’s a pickup of 118 sales in a 3-month period.  The overall market saw a pickup of just 6 homes.  There were almost 19,000 home sales in the last 365 days, so 6 homes is almost dead-even.

The $300-$399k range saw a pickup of 87 homes, and the $400-$599k range saw a pickup of 86 homes.  So, if the overall market only picked up 6 homes, there had to be some drops.  The $100-$149k range saw the largest drop of 160 homes followed by the $100k or less of 108 homes.  Now, this isn’t necessarily a bad thing.  It means these homes graduated to higher prices and there were fewer homes available in those ranges.  The market didn’t suffer because as those homes graduated, we saw an increase in home sales into the prices ranges they graduated into.

What does all this tell us?  It tells us the market is segmented and you have to know your numbers.  Pricing is still important as to how aggressive you choose to be.  When you’re stretching it, you must market the home well, and be prepared to adjust if the market doesn’t respond.

Nationally, homes sales slipped month over month.  Interest rates are creeping up.  Rents are high in Southwest Florida which motivates buyers to purchase, however rising rates crimp their ability to pay.  We love a seller’s market that is close to balanced.  There are winners and losers in every transaction.

Getting to Win-Win

Many times, there are two winners, the buyer and seller.  The loser is the buyer who missed out because they weren’t ready.  Getting pre-approved before you offer helps so much, especially in a multi-offer situation.  Having an experienced agent who can help make your offer look the best to the seller helps too.

Remember this.  The buyer and seller are not in competition with each other.  Buyers are in competition with all the other buyers out there competing for the same supply of homes.  The sellers are in competition with all the other sellers out there for the interested buyers.  When you find a home you like, don’t screw it up.  Go get it.

Sellers, when you find a buyer that works, don’t screw it up either.  The best homes go fast, and the best buyers go fast.  You must ask yourself, am I willing to lose this transaction, because the next may not be as appealing to me as this one?

It Takes a Pro

It takes a strong real estate professional who knows the market and knows the numbers to properly help you make that decision.  If you’re thinking of buying, selling, or both, always call the Ellis Team at Keller Williams Realty.  We’ve been doing this awhile, and we’ve seen a few things.  We can help make the difference for you!

Feel free to search the MLS, or find out what your homes is worth online for free at www.LeeCountyOnline.com  Or call us at 239-489-4042  We’re glad to help!

Ellis Team voted best real estate team in SW Florida News Press Readers Poll
Brett and Sande Ellis Voted Best Real Estate Team in SW Florida

Ellis Team Voted Best Real Estate Team in SW Florida by News Press Readers

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