The latest news release from Florida Realtors show Lee County Florida home sales down 6.8% in April but still up from 2016 and 2017 levels. We are seeing increasing inventory and time on the market, and home prices are flat. Total dollar volume of sales was down 12.3%, so we’re definitely experiencing a shifting market.
How you look at the market might just depend on your expectations. If you look at it over the last 4 years, this is the 2nd highest rated market. You can also look at it as down versus last year, and the fundamentals propelling the market are down as well.
So where do we go from here? A lot of that will depend on the economy, interest rates, and consumer sentiment. Right now, consumer confidence is fairly strong. Interest rates have declined, and the economy is doing well. The wild cards right now are the trade wars and their effects on the overall economy moving forward.
Trade between Mexico and Canada has a chance at improving significantly depending on if congress passes the latest revision to NAFTA. Trade with China has the potential to increase drastically or go South in a hurry. Long term it’s in our best interests to hold tight, but there is pressure on farmers and retail to wrap it up sooner rather than later. There could be long-term winners and short-term losers in that deal.
We don’t control what happens in the future. What we know is many want to buy here, and many want to sell. As in any market, the trick is pricing homes at today’s market and then marketing the home so as many prospects as possible see it.
One of the best websites to search for properties is www.LeeCountyOnline.com It’s great because it’s updated in real-time and includes all the listings. Additionally, there are neighborhood market reports, so buyers and sellers can get an idea of what’s going on at the neighborhood level too.
Memorial Day weekend is a great weekend to enjoy the outdoors. It’s going to be hot. Perhaps you’re looking to purchase a home with a big back yard so you can entertain friends and family, play games, and enjoy some BBQ on the grill. Perhaps you’re looking for a pool home in this hot weather. Or you’re looking for a waterfront home or condo so you can go out on the boat right from your back yard. We’ve got it all on our website.
And if you’re looking to sell, we can give you a free online estimate of your home’s value. Simply go to www.SWFLhomevaues.com and it will show you instantly. Or call Brett or Sande Ellis 239-489-4042 Ext 4 Many buyers need to sell their home first, and that’s where we can help. We can time it, so we sell your home and find you a property to purchase as well. All this takes coordination with the lender, title company, and the next home you’re purchasing. We handle all the details for you so you can enjoy the process.
So, this weekend go out and enjoy the outdoors. When you’ve had enough sun and heat, check out our websites and search for the next home that will meet your needs better. We’ve even got boat clubs we can recommend, which might save you some money. Some buyers elect to go this route and not buy a waterfront home and still enjoy the fabulous boating we have here in SW Florida. Others want that boat right at their house. Either way, we can help.
Stay safe, enjoy the weekend, and Happy House Hunting!
Ellis Team Weekend Open Houses
Open House Saturday 1-4 PM
Open House Sunday 12-3 PM
Open House Sunday 1-4 PM
Open House Sunday 1-4 PM