The latest Fort Myers Cape Coral SW Florida real estate Current Market Index has been released today and the overall Fort Myers Cape Coral housing index numbers fell to 7.75, from 7.88 the month prior. Cape Coral again led the way as Cape’s index fell to 6.38 while Fort Myers stands at 13.76. The lower the number the more favorable it is for sellers, and the higher the number the more favorable for buyers.
Current Market Index for Fort Myers Cape Coral Area
Lee County listing inventory for single family homes remained steady at 15,530 up a mere 7 homes from last month, and pending sales increased to 1,617, up from 1,546 in August. The overall Lee County Florida Current Market Index is at 9.60 in September, down from 10.04 in August. The September condo index stands at 20.21, up from 19.27 in August.
These numbers tell us the overall market is basically holding steady to slightly improving since August, and should bode well for closings in future months. It also tells us that so far the market has been absorbing the influx of foreclosures and selling them as they are not adding to inventory supply. This is another positive sign as the local SW Florida real estate market would be in trouble if the foreclosure activity added to inventory supplies. The large number of foreclosures is however keeping the supply where it is and preventing it from declining.