Real Estate in Southwest Florida Continues To Climb
The overall median closed price for the region continues to climb over 10% from 2014 over 2015 and consumers for real estate in Southwest Florida continued to purchase according to April statistical data just released for the area.
Median price for luxury homes market $2 million+ was up 9% compared to last April. Demand continued for price points above $500,000 as closings and pending sales showed strong increases from last year.
Inventory in the sought after entry level and investor price point of $300,000 and below continued to decline. This deflating inventory influenced the reduction of pending and closed sales for the price point. Single family and condominium median price however, continues to move up by almost 10% for the region, causing a "market creep" movement of inventory to the next price level.
Market trends to watch are the single family and condominium homes in the mid market range of $300,000 to $500,000 where inventory is up 15%. This surprising increase in inventory could be influenced by the "market creep" as inventory in the lower end increases in value as well as sellers seeing equity in their property and listing for sale. Closed and pending sales in this price point were up 20% compared to April 2014.
New construction continues to influence price points as well as balance the need for housing in Southwest Florida. Throughout the region, buyers will find new single family homes generally ranging in price from $400 to $700,000 and carriage or coach home products from $200,000 to $400,000.
Always consult a Realtor when considering a purchase of real estate in Southwest Florida. Whether your choice is resale or new construction, Florida Home Realty agents have the experience and knowledge of properties that best suit your lifestyle. Sellers can confidently list their properties with our agents, knowing that they are going to get the best price.
Other Articles Of Interest:
Naples Real Estate Area February 2015 Market Report
Naples Real Estate Area January 2015 Market Report