Fort Myers, Cape Coral Florida Real Estate Market: Feburary 2016 Report
In school we all learned the Theory of Supply and Demand. When the demand for an item is greater than the supply of that item, the price will surely rise.
SUPPLY The National Association of Realtors (NAR) recently reported that the inventory of homes for sale stands at a 5.4-month supply. This is considerably lower than the 6-month inventory necessary for a normal market. Charts That Scream ‘List Your Home Today’ |
DEMAND Every month NAR reports on the amount of buyers that are actually out in the market looking for homes, or foot traffic. As seen in the graph below, buyer demand in February significantly outpaced the last six months.
Many buyers are being confronted with a very competitive market in which they must compete with other buyers for their dream home (if they even are able to find a home they wish to purchase). Listing your house for sale now will allow you to capitalize on the shortage of homes for sale in the market, which will translate into a better pricing situation.
HOME EQUITY Sales of Single Family Homes SALE PRICE rose 11.5% and SALE PRICE Condos Rose 13.0% Many homeowners underestimate the amount of equity they currently have in their home. According to a recent Fannie Mae study, 37% of homeowners believe that they have more than 20% equity in their home
Homeowners who are undervaluing their home equity may feel trapped in their current home, which may be contributing to the lack of inventory in the market.
Bottom Line If you are debating selling your home this year, let me evaluate the equity you have in your home, as well as the opportunities available in your market. Please requset a home valuation by emailing me at Brokerjoe@me.com
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Joe Kendall BROKER "Broker Joe"
Keller Williams Realty Fort Myers & The Islands,
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Fort Myers / Fort Myers Beach / Cape Coral / Bonita Springs / Naples/ Sanibel Island
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