Real Estate Market is on the Mend in SW Florida
Median sale prices, traditional type sales and number of sales are rising on Pine Island and Lee County Florida. Things are looking up with our median sales price around $200,000 which is about an 8% increase compared to this time last year. Foreclosure properties are showing a decrease as percentages of traditional property sales grow ~ indicating our real estate market is on the mend in SW Florida.
Trends are changing as home values continue to increase. More non-investment buyers are using cash to purchase homes as investors are less enticed by the current market. According to Lawrence Yun, chief economist for the National Association of Realtors, baby boomers make up the bulk of cash transactions. With an improving economy and stock market, boomers are driving the real estate market. With decades of home-equity accumulation, they just don’t want the hassle of a mortgage.
If you or someone you know are interested in selling or buying a home is SW Florida, contact “Pine Island Pam.” I deliver good old fashioned customer service with up to date technology for today’s competitive market. Call (239) 699-6567 or e-mail Pam@PineIslandPam.com. Check out my website at PineIslandPam.com.
Originally posted on “Pine Island Pam’s Real Estate Blog.” Sources: Realtor Association of Greater Ft Myers and the Beach & Florida Realtors.
Posted via OnFast - http://www.OnFast.com
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