2012 has been a great year thus far; gaining positive momentum for our once troubled housing market. The once forgotten homes that were lost in the short sale or foreclosure process are now full of life, occupied by new loving owners, looking more beautiful than ever. The first quarter statistics are very positive for the overall health of our local economy. What they also show is that we have hit the bottom and have continued trending significantly upward from this time last year.
If you have ever dreamed of owning your piece of paradise, but are in need of a little nudge, here it is. In 2011 the average price for a single family home was $136,317.00, this year that same figure has increased by 22% making the average price $166,249.00. That is just our local area, increases has been documented on a national level as well.
The Florida Realtors reported that real estate economists and analysts are optimistic that we will see a dramatic recovery in the next two years. These economists predict that next year home prices will begin to rise by 2% and then get a larger boost of 3.5% by 2014.
These statistics coupled with low interest rates, and less stringent lending policies make now the time to buy that new home or special vacation spot. If we can help you in any way make your dream possible give a call. We look forward to hearing from you.
It appears that after a few trouble years for our local real estate market the clouds are parting and the sun is shining brightly over Cape Coral and Fort Myers Florida. There have been two studies performed by two separate online search giants; Realtor.com and Trulia. They have suggested through their research we (Cape Coral) are poised for a real estate rebound.
Realtor.com has published a Top Ten Turnaround Report. It states that there are “6 Florida cities that were considered good bets for an upswing in sales.” This information was gathered through a formula that was created by analyzing recent price appreciation, changes in inventory, median age of inventory, number of searches through there site (Realtor.com), and area unemployment statistics. In Cape Coral we have experienced an increase in the median home price, smaller amount of inventory, our unemployment rates have stabilized, and we have seen recently; an influx of foreign buyers to our market.
Realtor.com turnaround list (Florida cities only) includes:
- Fort Myers-Cape Coral
- Fort Lauderdale
- Lakeland- Winterhaven
Trulia has published a similar report, Trulia’s Metro Mover Report.
This report was designed to analyze home searching data. They have looked at the number of people that search for homes is a particular city. This study also includes people interested in rental properties. They then compare it to the number of city residents looking for somewhere else to call home. It’s findings; an area with a high number of searches within the same city and low searched for elsewhere suggests an increase in demand for housing.
Their list is as follows: (Florida cities only)
- North Port-Bradenton-Sarasota
- Fort Lauderdale-Pompano Beach-Deerfield Beach
- Cape Coral – Fort Myers
- West Palm Beach-Boca Raton-Boynton Beach
If you are on the fence about buying, or looking to make a positive real estate investment, Cape Coral is a great place to do just that. If we can help you with your real estate goals, no matter how big or small, give us a call. We look forward to hearing from you.
Yours in Success,
The Florida Future Realty Team