The National Association of Realtors published their polls and it shows that in 2009 with the assistance of realtors, 16,260 homes were sold. In 2005 when the housing boom began, the record was 12,123
However one significant change is the declining home prices. In 2005 the median home price was 278,200, now in 2009 we were at 90,400. This decline is due to the record number of short sales and foreclosures now flooding the real estate listings. Sellers are now coming to their senses and listing their homes more realistically, their homes are worth significantly less from what they were selling for 5 years ago.
The fact of the matter is that homes are STILL selling. We may have to navigate through a few detours, from bank negotiations to new lending laws, but properties are moving.
Buyers also need to understand that there are great deals to be had, but when a property is under market value as many of them are, they may sell very quickly and most likely there will be multiple offers.
So when searching for real estate in Cape Coral, we suggest you secure your financing and act quickly when you find the right home at just the right price. Call one of our agents at Florida Future Realty to assist you with your home buying experience.
Yours in Success,
Florida Future Realty Team