The Changing Real Estate Market In Southwest Florida
MARKET UPDATE
(11/09/06)
Fort Myers / Cape Coral Rated Number 1
Fort Myers/Cape Coral were recently rated number one in job creation for large cities in the United States. It is estimated that they are creating 1,000 jobs per month with 23,000 jobs available. This strong showing in available jobs is meaningful when you consider you next investment area or place you would like to live. You combine the weather, the job market and the beaches and you have one of the Top places in the US to live or invest. Although like the rest of the nation this area has been in a Seller’s Market for the last 12 months it appears that the market is starting to move back to a more normal market. This area sees a high influx of Snowbirds during the months of December through April. They also represent the selling season for Real Estate. Developers have pulled back on new construction to eliminate inventory and this combined with the current interest rates and local market trend indicates this may be the time to take advantage of the low prices since they may not last much longer. Recent trends in the MLS listing service have seen an increase in the number of price increase, when the trend has been for decreases in prices. That is not to say that we have moved into a Buyer’s market but that the trends indicate we may have reached the bottom of the Seller’s market. It is worth a look and I welcome your comments.