SW Florida Market Update
- As is expected during this time of year, inventory levels rose by 5.7% in one month.
- Cape Coral, active single family homes are 1,572.
- Cape Coral sales were 326 in October, as we enter the last part of the year, it's not uncommon to see sales drop as a result of more inventory.
- Although October and November ordinarily has a dip in sales, the good news is that December generally has an uptick in sales as buyers take advantage of tax and homestead exemptions.
- Total permits issued in Cape Coral for FY 2017 was 93, the second highest number for the month of October since 2007.
- Inventory levels rose to 4.8 months, moving towards a "neutral market".
- Unlike the Cape Coral market, Ft. Myers is moving towards a buyer's market with nearly 6 months of inventory.
- Similarly to Cape Coral, home values have increased 11.2% in one year!
- Bonita & Estero sales continue to be flat with this market seeing another month of negative home sale appreciation.
- For 6 months Bonita Estero has suffered home sale value drops when compared to 2015.