The Future is Here | Sanibel Real Estate News

Sanibel Real Estate News by Jay Richter, Managing Broker of John R. Wood Properties.

A few months ago a storm called IRMA caught our attention.  Although, in our office, we sold a property a day before the storm hit, generally sales took a backseat to safety.  Since the storm, sales have increased over the same period last year by 28% on Sanibel.  Additionally, since then, condos sales volume  has surged across Lee county SW Florida Real Estate appears to be poised for an excellent season  1.Sales are good in the USA Many of our sales come from buyer who have to sell somewhere else. Nationally, there is a 10% decrease in inventory and 42% of home sell at or above asking price. If sellers can sell they can buy here. 2.Developers are developing Look around.  Cement mixers everywhere. Inventory is expanding to meet our demand.  Developers and banks are bullish on our area and don’t usually risk capital unless the reports they are reading are bullish for the area. 3.Economy is strong Mortgage Rates are good and the National Realtors buying confidence level is strong. Home equities are growing, just this year median prices are up 5-7% 4.Local Economy is robust. Lee county has a 3.3% unemployment rate… the best of our 3 count area. New companies are finding SW Florida to be a good place to operate business.   Our area looks like a steal against Naples.  As we continue to compare with Collier county, Lee County we seems to be under valued.  As a result of all these factors, I believe prices will rise.  I’m been recommending customers buy well operated condo’s that you can rent and hold. Now is the time to consider liquidating funds from the stock market and buying Real Estate. The future is here.   Take a look at the absorption rates for price ranges in our 3 markets. Absorption tracks the rate of sales against the current inventory.  It’s clear that the higher the price the longer it will take to sell… unless its “Done”.  Done is all updated and beautifully decorated, well maintained or on a one of a kind lot.   Jay’s Market Minute Watch Jay’s December Market Minute on the current conditions of our local real estate market Learn about John R. Wood For more information contact: Jay Richter Managing Broker Licensed Real Estate Instructor John R. Wood Properties Direct:239-233-3520 jay@sanibelmarketplace.com www.SanibelRealEstateMarket.com www.JohnRWoodFlorida.com