Friday, July 6, 2018 / by Hunter Habib
Market Update - July 2018
We hope you had a safe and happy 4th of July! Although it was a bit of a soggy holiday, this time of year marks the time when we look at the first half of 2018 in the Southwest Florida real estate market. The numbers below reflect the Multiple Listing Service, which covers from Marco Island to Cape Coral.
YTD Sales (closings) vs. Last Year
Average Sales Price
Average Days to Sell
Total Current Active Listings by Volume
Total Sales Volume
As we can see by the numbers, the overall market this first half has been steady, which indicates a stable market. (Please note some price points and areas are selling much faster than others, click here to view the absorption rates. 6 months of supply = normal market; less than 6 months = sellers’ market; more than 6 months is considered a buyers’ market). Sales and days to sell were also steady versus prior year, but we did see some variance for Active listings. However, that variance did not cause the total sales volume to be affected, as the total sales volume was higher than this time in 2017. Additionally, the average sales price also saw an increase by almost $30,000. * Also, while we did see some minor residual effect from Hurricane Irma early in 2018, overall, it did not affect sales. With inventory, we also observed an uptick in new listings for the first half as well, despite a lower active listing volume in dollars. Despite the overpriced listings that were in the market during this time, total sales volume was not affected, as many homeowners realized that pricing to market value would be the only way to generate activity, and ultimately an offer.
The bottom line is that Southwest Florida is a desirable place to live and buy real estate, and buyers will continue to watch the market. If you are selling or buying this summer, and you’re unsure as where to start, let The Paradise Real Estate Group and help you develop a winning strategy, ensuring the best possible outcome. Here is a handy list of unique sales tools we provide our buying and selling clients. Whether buying or selling, our tools are PROVEN to help you get the most from your transaction!
· Absorption rates which is updated monthly! Visit HERE to check it out!
· Detailed Market Analysis – Get active, pending, and all sold properties near your home or within your community within the past six months, as well as average sale price and the average days on market and more right HERE!
· New Streamlined Communications System – Our client resources and tools now reside on a dedicated server, making your experience faster and more convenient than ever! No other real estate team in Southwest Florida has the technical tools we have dedicated to serve you!
· Monthly Market Report. Let us present you with the most accurate data about your neighborhood including closed and active home sales.
· Property Value Calculator. Not sure what your carrying costs will be? Check out our Property Value Calculator to find out how much carrying costs will impact your selling price.
· Website Online Chat. Chat with our team in real time to get your questions answered now!
· Elite Seller Feedback System – Take advantage of my sophisticated and exclusive system that provides valuable feedback from your showings via email, so you know what buyers are thinking.
· Interactive Home Illustration - Give buyers what they want to see with professional images and videos of your home!
· Superior Marketing Plan - Our marketing plan is unlike all others in this market! It will maximize exposure and get top dollar for your home.
· Updated Easy-to-read eMail Template - You’ll be able to review our messages and quickly access such as our featured listings, market reports, and quick links to various communities and all of our exclusive market tools!
Let us help guide you through current market conditions and assist in making the best decisions for the purchase or sale of your Southwest Florida property!
*(Please note some price points and areas are selling much faster than others, click here to view the absorption rates. 6 months of supply = normal market; less than 6 months = sellers’ market; more than 6 months is considered a buyers’ market)
D. Michael Burke, P.A.
Keller Williams Elite Realty
26381 S. Tamiami Trail, Suite 300
Bonita Springs, FL 34134