In a recent ranking published by Inman News, the Fort Myers – Cape Coral market was ranked as the 7th best turn-around market in the nation. Our area has been been recognized recently as a national leader in the housing market recovery by other publications including Trulia, CNN Money and AOL Real Estate.
The report utilized realtor dot com listing data and cited a year-over-year median list price increase of 18.27%. Another key metric driving this national ranking was a drop of 24.59% in the median age of the available housing inventory. The region’s 27.61% drop in available inventory was another factor contributing to this national acclaim.
Our team is seeing a significant influx of pre-retirement baby-boomers shopping for a new place in Southwest Florida. Many view this year as the last time that they will be able to purchase an affordable second home in the Fort Myers area.
The absolute hottest sector of the market has been Fort Myers new construction opportunities. Buyers are snapping up new homes in record numbers, many of which are being built by national builders in existing subdivisions. In many cases, national builders were able to acquire the remaining house lots in an infrastructure-ready subdivisions at pennies on the dollar. These astute land purchases have allowed the builders to favorably compete with discounted resale offerings.