Tag Archives: Cape Coral Fort Myers Homes

Official SW Florida Real Estate Sales Numbers Released-Large Increase in Home Sales

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Official May 2008 sales numbers were released for SW Florida, Fort Myers and Cape Coral, as well as the entire state of Florida.  We predicted a 57% increase in the number of sales and a 25% decrease in the average sale price in Official SW Florida Real Estate Sales Numbers Due Out Tomorrow post on June 25.

As you can see from our Florida Sales Report – May 2008 Single-Family, Existing Homes, official home sales were up 43% and the median sale price was down 25%.  The official numbers use statistics from various sources and we analyzed statistics from the Greater Fort Myers and the Beach Board of Realtors.  We knew our stats would be close to official numbers and while the number of sales was a little off, the trend was overwhelmingly positive no matter how you look at the numbers.

We posted a new Ellis Team Current Market Index on June 20th, and the prognosis for continued strong sales activity persists.  Condo sales were up 32% and median sale prices of condos in SW Florida were down 9%.  See Florida Sales Report – May 2008 Existing Condominiums   For additional housing statistics in Fort Myers and Cape Coral real estate, see our Housing Statistics page.  If you’d like to search for property in SW Florida, including Cape Coral, Lehigh Acres, Fort Myers, Estero, Bonita Springs, and all of SW Florida, visit our SW Florida MLS Property Search Website.

If you’re interested in Bank Owned Properties and Bank Foreclosures throughout Fort Myers, Cape Coral, and Lehigh Acres, visit our Bank Owned Bargains webpage.

 

Naples Florida Most Overpriced Market in US

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Naples Florida is the most overpriced market in the US according to National City Mortgage.  I found this article in Money Magazine, which covers most major markets across the country.

What’s their forecast for the rest of SW Florida real estate?  They predict Cape Coral – Fort Myers homes to appreciate 9.3% from June 2006 to June 2007.  This is in line with what the Ellis Team has been predicting.  Statistically we think the market has hit bottom and now is the time for buyers to buy in earnest as their is good selection and still relatively low interest rates.