Lee County home sales outpace available listing inventory in Cape Coral year to date and it is only February 10 as we write this article. The numbers in Fort Myers and all of Lee County tell a similar story.
Is it possible to reach zero inventory? We believe the answer is no, just like we will never see zero unemployment, for a variety of reasons. Some sellers will never sell no matter how hot the market is, and some people will never get a job no matter how good the job market gets.
Lee County Home Sales Outpace Available Listing Inventory
We are at or near 1 month supply of inventory in several price ranges. In my 31+ years of selling real estate in Lee County I have never seen this before. To make matters worse, builders are turning on and off the building spigot. We covered that extensively in last week’s article.
Where will inventory come from? Buyers are still moving to Florida in droves from New York, Illinois, California, and other states. Demand is not going away. We have pressure on the market. Not every buyer is going to get a home. Only the buyers willing to step up and win the game are securing homes.
Many Realtors are asking, how low can inventory go? We have been watching inventory draw down for the better part of two years, and now it is getting critical. We have a message for both buyers and sellers.
Sellers now is your time. You are in the driver’s seat. It has never been more fun to sel a home than right now. If you are priced and marketed correctly you will have multiple offers to choose from. The agent you hire to represent you will make all the difference. Choosing the wrong offer can cost you, just like choosing the wrong agent. If you have questions about how that is possible, talk to Brett or Sande Ellis before you list, and we will talk about that.
Choosing the wrong offer is just as bad. If today you knew the offer in hand would not close, would you take the offer? Of course, you wouldn’t. This is another reason why hiring the right Realtor with experience matters. Experience is the ability to see the future because the agent has been there before. The Ellis Team has closed over 5,000 homes, so we have seen some things. We have that Spidey sense because of experience.
Buyers, you are in competition with all the other buyers. Forget about trying to out negotiate the seller. You will out negotiate yourself right out of the deal. In a balanced market where you are on equal footing, it is a different story. This is not a balanced market. You must play the game to win, or you are going to lose. This may not matter if you do not really need to buy and you are comfortable in your current housing situation. If you need to buy, get comfortable being uncomfortable. You need an agent that knows how to win.
Back to Sellers
Do you know what your home is really worth today? Is there a number at which you would sell? What if your home is at that number and you did not realize it?
Call Brett or Sande Ellis 239-310-6500 or visit www.SWFLHOMEVALUES.com to get an instant value. The best part is the system will email you your home’s value every month as it changes. You will know when your home finally hits your number.
Good luck and let us know how we can help you in this market. Experience wins. We can help you with that.
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