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Latest update on real estate market conditions in Southwest Florida 

Values Continue to Increase, but...

A Slow Down in the Market is Imminent

Despite the fact that new listings are starting to outpace pending listings and the number of price reductions are increasing, the sales continue to reflect a favorable market for sellers. The chart below highlights the median sale prices the past 5 years which is easy to see has been steadily climbing.  Lee County property owners have been enjoying these increasing values for 6 years. Volume builders, investors, and flippers have enjoyed these times as well.   

Overpriced listings and increased housing inventory is a concern. We're beginning to see the market soften and although the sales figures look good, supply is beginning to outpace demand which could usher in a correction. It would be a good idea to pay close attention to all real estate related news stories if selling is in your near future.

Feel free to visit my website, for all the latest listings and market information.
     

5-Year Median Sale Prices  





















 

Foreign U.S. Home Sales Dollar Volume Surges 49 Percent to Record $153 Billion

MEDIA CONTACT: ADAM DESANCTIS 

WASHINGTON (July 18, 2017) – Fueled by a substantial increase in sales dollar volume from Canadian buyers, foreign investment in U.S. residential real estate skyrocketed to a new high, as transactions grew in each of the top five countries where buyers originated.

This is according to an annual survey of residential purchases from international buyers released today by the National Association of Realtors ®, which also revealed that nearly half of all foreign sales were in three states: Florida, California and Texas.

NAR’s 2017 Profile of International Activity in U.S. Residential Real Estate, found that between April 2016 and March 2017, foreign buyers and recent immigrants purchased $153.0 billion of residential property, which is a 49 percent jump from 2016 ($102.6 billion) and surpasses 2015 ($103.9 billion) as the new survey highOverall, 284,455 U.S. properties were bought by foreign buyers (up 32 percent from 2016), and purchases accounted for 10 percent of the dollar volume of existing-home sales (8 percent in 2016).

Although China maintained its top position in sales dollar volume for the fourth straight year, the significant rise in foreign investment in the survey came from a massive hike in activity from Canadian buyers. After dipping in the 2016 survey to $8.9 billion in sales ($11.2 billion in 2015), transactions from Canadians this year totaled $19.0 billion – a new high for Canada.

Inventory shortages continue to drive up U.S. home values, but prices in five countries, including Canada, experienced even quicker appreciationSome of the acceleration in foreign purchases over the past year appears to come from the combination of more affordable property choices in the U.S. and foreigners deciding to buy now knowing that any further weakening of their local currency against the dollar will make buying more expensive in the future.

 

Have any Family or Friends interested in Southwest Florida?

I would be more than happy to send them information or include them in this mailer. Please do not hesitate to contact me if you or any friends or family have questions or would like to learn more about beautiful Southwest Florida.

 

Brian Fox
REALTOR
Sellstate Priority Realty

"Let me Hunt the Deals for you!"

239-246-3991 anytime
foxrealestate@comcast.net

BrianFoxRealestate.com


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