Southwest Florida Real Estate Market 2017 Update

Southwest Florida Real Estate Market 2017

This Southwest Florida Real Estate Market 2017  was  compiled by

Jeff Tumbarello, Broker Steelbridge Realty  and Director SWFL REIA

Why did I do this Southwest Florida Real Estate Market 2017 Update?

  • I am hearing from many of sources that the real estate market is getting soft. ~Mainly from real estate agents.
  • So what do the numbers say?

The 4 basic things to watch in any Real Estate Market:

  • Volume
  • Sales Counts
  • Average Price
  • Median Price

About the data:

  • This is a Year over Year Comparison from Jan. (2016 versus 2017 ) thru March 20 for Lee County Residential
  • All the data was pulled from the MLS and trended in microsoft excel.
  • Please note, this is my work done for me and shared with you.

Sales Counts and Activity:

2016 2017 DIFF
Volume  $979,042,897 $1,124,203,375 14.83%
Counts 3,525 3,779 7.21%

Average and Median Pricing:

2016 2017 DIFF
Average Price  $277,743 $297,487 7.11%
Median Price  $199,080 $218,500 9.75%

Additional Data Points to consider in this Southwest Florida Real Estate Market 2017 Update. how many months inventory?

  • As of 2:03 PM on 3/31/2017.
  • Lee County had 19,581 in the last 365 days.
  • That equates to a 1,631 sales a month.
  • We currently have 9,442 active listings.
  • We have 5.7 months inventory which is a balanced market.

How about the cash percentage?

2016 2017 DIFF
Cash % 50.27% 46.89% -6.72%

Conclusion:

  • The market appears to be doing fine. Volume, sales count, average and media price are all up. That is a growing market.
  • Further analysis shows the market segments are shifting.
  • Final and most important note. The street tends to be wrong.

Who am I?

  • I am the local expert and source of data for the current trends in Real Estate Metrics.
  • I also have performed market metrics and product modeling for the capital markets and several private equity firms.
  • I have participated in many large bulk asset and distressed note sale
  • I have engineered some large and well performing residential portfolios.
  • Since 2009, I have brokered over 9 million in Commercial Real Estate. These projects have ranged from large office buildings in Cape Coral, distressed gulf access development sites in Naples and numerous large warehouses from Sarasota in Fort Myers.
  • I have also been very active in commercial leasing.
  • I have worked with the following media outlets as a subject matter expert. (General Real Estate, Real Estate Statistics, Real Estate Investing & Foreclosures): NPR, Bloomberg, Huffington Post, Wall Street Journal, NBC, ABC, Wink, Fox, Fort Myers News Press, Naples Daily News, Fort Myers Weekly, and Gulf Coast Business Journal.

Questions? Thoughts?

Call 239 694 3300 x102 or use the form below




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One Comment

  1. Pingback: They're still coming! SWFL population growing! ~ Steelbridge Realty LLC

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