Homes for Sale Fort Myers FL + Homes for Sale Naples FL & Sold Report for March 2017

Beautiful home
Status: Active

12451 Villagio Way, Fort Myers, FL

Price: $574905

3 + Den Bedrooms

3 Bathrooms [ 2 Full, 1 Half ]

216078206

Beautiful home
Status: Active

12183 Country Day Circle, Fort Myers, FL

Price: $299000

3 Bedrooms

3 Bathrooms [ 3 Full ]

216047206

Beautiful home
Status: Active

9647 Hemingway Lane #3406, Fort Myers, FL

Price: $152900

2 Bedrooms

2 Bathrooms [ 2 Full ]

217001683

Beautiful home
Status: Active

15300 Bonefish Trail, Bonita Springs, FL

Price: $417905

3 Bedrooms

2 Bathrooms [ 2 Full ]

217008051

Beautiful home
Status: Active

28213 Islet Trail, Bonita Springs, Florida

Price: $279900

2 Bedrooms

2 Bathrooms [ 2 Full ]

217007113

February Sales Remained Steady, but Closings Took Longer

(Fort Myers, FL – March 22, 2017) – Homes are selling for more in Lee County, but taking longer from listing to closing, according to newly-released statistics from Florida Realtors®.

In the month of February, Closed Sales on Single Family Homes remained almost the same as the year before, with 824 closings. There was an increase in the number of Condo closings with 438. The number of active listings rose for both Single Family and Condos. There were 6,279 Single Family Homes and 3,721 Condos active in February. Pending Sales were also slightly up for both categories.

The Median Sale Price for a Single Family Home was up 13% year-over-year, going from almost $217,000 in 2016 to $245,000 in 2017.

The statistics show that homes spent more time on the market than they did this time last year. A Single Family Home spent 70 days on the market, compared to 51 days in February 2016. The Months Supply of Inventory rose again last month to 6.0, compared to 5.4 last year.

Broken down by city, Cape Coral and Fort Myers Beach had the biggest drops in the number of closed sales. Sanibel/Captiva had the biggest jump year-over-year.

There was also a significant increase in the number of homes that sold in the $400,000- $599,999 range, with 117 closed sales in February. Condos sales in the same price range were up more than 54%.

Media Contact: Laura Shay laura@rpcra.org

FEBRUARY MARKET REPORT SHOWS MORE CHOICES & BETTER PRICES

Naples, Fla. (March 17, 2017) – Overall inventory rose yet prices remained stable in February according to broker analysts who reviewed the February 2017 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island) using the Southwest Florida MLS. Overall pending sales (homes under contract) and overall closed sales also increased in February keeping REALTORS® out in the field and busy with showings and closings.

“Compared to this time last year when we were challenged to find properties for customers, the February report showed inventory is up by nearly 1,000 new listings, giving us almost nine months of inventory to show eager buyers,” said Dominic Pallini, NABOR® President, and President and Broker at Vanderbilt Realty. “Buyers have more choices now. This trend is promising.”

Overall inventory rose 16 percent to 6,466 homes in February 2017 from 5,577 homes in February 2016. The largest increase in inventory during February was in the condominium market, which saw a 23 percent increase to 3,207 condominiums in February 2017 from 2,599 condominiums in February 2016. In fact, condominiums in the $1 million to $2 million price category increased the most of all housing types with a 43 percent jump in inventory to 284 condominiums in February 2017 from 198 condominiums in February 2016. Also reflected in the report, the North Naples area experienced the highest increase in condominium inventory, with a 40 percent increase to 989 condominiums in February 2017 from 704 condominiums in February 2016.

The February report also showed overall pending sales increased 10 percent to 1,092 pending sales in February 2017 from 993 pending sales in February 2016; and overall closed sales increased 18 percent to 613 closed sales in February 2017 from 518 closed sales in February 2016. But the condominium market also held the record in February for highest increases in both of these areas too. For example, pending sales of condominiums in the $300,000 to $500,000 price category had the highest increase of all other home types and price points in February with a 53 percent increase, and closed sales of condominiums in the $500,000 to $1 million price category had the highest increase of all other home types and price points in February with a 75 percent increase.

Overall median closed prices increased just 3 percent to $333,000 in February 2017 from $323,000 in February 2016. Interestingly, the median closed price for single-family homes decreased 5 percent to $402,000 in February 2017 from $425,000 in February 2016. Geographically, the Naples Beach area saw a 29 percent decrease in median closed price to $650,000 in February 2017 from $917,000 in February 2016, while the Ave Maria/Immokalee area saw a 29 percent increase in median closed price to $287,000 in February 2017 from $222,000 in February 2016.

Broker analysts Coco Amar, Managing Broker at John R. Wood Properties, and Jeff Jones, Managing Broker at the Naples-Park Shore office of Coldwell Banker®, pointed out that economic factors may begin to delay baby boomers’ decisions to sell their northern homes and buy in Florida.

“I’m finding buyers are taking their time making a purchase decision because it’s still unclear how some of the President’s reform policies will play out over the next few years. And with the stock market performing as well as it is right now, it’s hard for them to replant those funds into a second home should they need it liquid quickly,” said Amar.

“Many baby boomers are also facing very different life circumstances than retirees from previous generations, said Jones. “As the number of adult children and aging parents living with baby boomers increases, permanent relocation for them is not yet an option. Also, the recession seems to have reduced impulsive buying behaviors. Consumers are more educated about home values today and they are taking more time to look for the right home.”

Buyer hesitation doesn’t seem to be a factor with the real estate market in Naples just yet. In fact, cash sales increased to 68 percent of the closed sales made in February. And for good reason: according to Jones, “There were 400 price reductions in one week in the Southwest Florida MLS during February, which motivated buyers to make a purchase decision. Along with being named the happiest place to live in America, Naples continues to have a very healthy and balanced real estate market.”

Contacts: Dominic Pallini, NABOR® President, (239) 597-1666 Marcia Albert, NABOR® Director of Marketing, (239) 597-1666

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Brad and his team are knowledgeable of the area, great at negotiating for our best interest regarding purchase price of home and just a pleasure to work with. Brad responds to texts and emails immediately ...

Read more 10/15/2020 - joanne sinnery
Bought a for approximately $350Khome in 2020 singleFamily in Gateway, Fort Myers, FL 33913.

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Brad Dohack and his entire team are absolutely wonderful. He is incredibly communicative, prompt, and his expertise is unmatched. In addition to being top notch at what he does, he's simply a great person ...

Read more 09/28/2020 - KelseyHuntoon
Sold a for approximately $125Khome in 2020 condo in Gateway, Fort Myers, FL 33913.

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Samantha Bagdasarian is a very professional, responsive real estate agent. Absolutely EVERYTHING I asked her for was completed with amazing timeliness. She never seemed to tire of repetitive showings ...

Read more 09/17/2020 - user9605122
Bought ahome in 2020 condo in Villas, Fort Myers, FL 33907.

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Brad's knowledge and understanding of each neighborhood is extensive. I was very impressed with the amount he could help make decisions no matter where we looked. His response time is second to none for ...

Read more 09/16/2020 - Brian Chamberlin
Sold a for approximately $400Khome in 2020 singleFamily in Estero, FL 33928.

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My husband and I had a nightmare experience in the past when we sold our previous home. Luckily this time around we did our homework and found Brad Dohack who is a true real estate professional. He is ...

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Sold a for approximately $275Khome in 2020 singleFamily in Matlacha, Cape Coral, FL 33993.

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