Hurricane Irma definitely made her mark on SW Florida, and in many different aspects. One of them, being my passion, was real estate. Although, her persistence to make her way down the SW Florida coastline did not impact rising sales prices, it did impact the numbers of closed sales & new listings hitting the market.
Let's look at the numbers:
-Single family median sales price was UP 13.3% to $255k from $225k in September 2016.
-Condo/Townhome sales remained flat with a median sales price of $180k
-Closed sales were down by 30.4% over September 2016 (attributed to delayed closings from storm)
-Single family new listings were down by 46.8%, which can be attributed to many homeowners spending the month of September cleaning up debris and repairing their homes from hurricane damage. This also brought down our month's of supply of inventory by 4.3%.
What does this mean for the SW Florida real estate market? It depends on who you ask. In my professional opinion and experience, it's two fold. On the one hand, we may see a boost in home sales as local business owners experience a boom in business and have more buying power to funnel back into our community. Think about it, from roofing contractors to landscape companies to general contractors to dock & seawall companies to screening companies and beyond, there is a lot of capital funneling into our local market right now as homeowners strive to get their homes and lives back to "normal". This boom in business, while overwhelming to many, could create deeper pockets of the business owners. On the other hand, we may see an influx in short sales and foreclosures from property owners that were unfortunately impacted by the storm and cannot afford to repair their homes, or are leaving them sitting abandoned until they can be repaired. There are many different reasons for this, a couple of which may be lack of insurance, improperly insured policies, or overwhelming financial burdens. In the end, whether a thriving business owner or a homeowner finding themselves dealing with a new way of life, SW Florida is dealing with a situation that will only make us stronger as individuals and as a community! #SWFLStrong #FloridaStrong #LiveLoveRecoverParadise #CommunityOutreach
Author:Stacey Bohannon Phone: 239-464-2157 Dated: October 21st 2017 Views: 1,492 About Stacey: I am a Fort Myers native, and absolutely LOVE to call SW Florida my home. I am a wife to an amazing...
Ray brings a wealth of knowledge and expertise about buying and selling real estate in Greater Southwest Florida. In the real estate environment of today you need someone you can trust for up-to-date information about what is happening in the local real estate market. As a dedicated real estate agent and team leader, Ray is qualified to guide you in buying or selling a home. He believes in using his skills in finance, contracts, negotiation and marketing to your best advantage. Ray and his wife Wanda work together as “The Bluz Team”. Their goal is to make sure that every buyer and seller receives their five-star service. You can count on them to always work tirelessly to achieve your success. The Bluz Team values building good relationships with the people they work with and they will deal with everyone with the utmost integrity and respect. They realize that this is one of your most valuable assets so they take their responsibility seriously. Ray has been living in Fort Myers for 14 years and has been actively involved in the real estate industry with his wife Wanda since 2006. Originally from the Chicago area, Ray enjoyed a successful career in wholesale electrical sales and was also a licensed real estate sales associate in Illinois for 3 years prior to moving to Florida. Wanda is originally from Canada and has an extensive background in retail sales and customer service. Together they have built a real estate business using the latest technologies to market seller’s properties as well as using the best tools to help buyers purchase the right house, at the right price, with the right terms, in the right time frame. The Bluz Team also concentrates on seasonal and annual rentals and they work with investors whose goal is to purchase an investment property for rental income. Their other specialties are: First Time Buyers, New Construction, and Residential Sales. Whether you are looking to buy or sell your home, we will provide sound and trustworthy advice to help you achieve your real estate goals. We don’t measure our success through awards received or achievements, but through the satisfaction of our clients. Let us guide you through the complexities of buying and selling your home, eliminating hassles and stress. Remember, who you work with matters! We are The BLUZ Team and we welcome the opportunity to earn your business.