What does a stabilizing housing market mean for you?

Housing markets are always shifting, but the desirability of SW Florida continues to protect home values. Still, as the market begins to stabilize, it is important to understand what you can do, should you opt to sell, to ensure your property sells quickly.  Home sale statistics for the month of March are in, and there is a lot we can learn from them.

Set the right price the first time.
A quality home, properly priced, attracts buyers quickly and sells for a much larger percentage of its original listing price.  A review of sales last month shows that homes sold within 30 days averaged 96.4% of their original price. After 120 days, selling prices dropped to only 84.3% of their original price. Don't wait longer only to make less. An experienced agent can help you set the right price; receiving more money in less time.

Home values continue to rise.
Home prices in Fort Myers continue to climb, averaging $480,250 - up from $410,000 a year ago.  I know I keep saying SW Florida defies national trends, but the numbers really do back that up.  Buyers understand this and that makes your home more attractive to them.  While it is important not to overshoot with your asking price, don't think for a minute that means that you'll have to settle for less than fair market value.

The seller's market continues.
Home inventory numbers remain low. In Cape Coral, there were 495 homes available in March, compared to 689 last March. In Fort Myers there were 373 homes available, compared to 471 last year. Low supply, high demand. We all learned in high school economics what that means. It means if you are ready to sell your home, now is the time!