Condo sales have sky rocketed in Lee County over the last few months. In August alone, the number of sales shot up 20% year over year. That's 602 pending condo sales vs 499 in 2016, which is impressive to say the least! Median sales price was also up 7% over last year topping $175,000 for August 2017, and the number of closed sales was up 4.5%.
The days of getting a "steal" can be logged in the history books. The foreclosure market for August 2017 was a measly 13 condos, down 13% over last year. And short sales continue to rapidly decline, down 83% over August 2016. That's not to say that there aren't properties out there that can be bought at a value, but they're most likely going to need some TLC to bring them to current market value.
What does all of this mean? Well, if you're looking to save some money, be ready to get your hands dirty and prepare for a remodel. If you're wanting move in ready and updated, be prepared to pay full [or close to it] market value. With condos selling at 96% of list price, on average, you might have some room for negotiation, but not much.
Author:Stacey Bohannon Phone: 239-464-2157 Dated: October 12th 2017 Views: 233 About Stacey: "I am a Fort Myers native, and absolutely LOVE to call SW Florida my home. I am a wife to an amazin...
Our office is the leader and expert in the Real Estate market. As the broker for over 24 years in Lee County, I have been interviewed by the following media sources, NPR, Today Show, NBC Nightly News, Wall Street Journal, Washington Post, LA Times, Miami Herald, PBS NewsHour, Time Magazine, Life Magazine, Realty Trac's Foreclosure Report's, ABC Dateline, CNN Court TV, Jay Thomas Show, FGCU Happening Now, Florida Realtor Magazine, Boat Us Magazine, and countless international interviews. All as a result of our extensive market knowledge and proactive approach to selling homes.
We are direct Fannie Mae and Direct Freddie Mac Vendors with offices in Lee County, Pinellas County, Marion County and Duvall County.
We are the REO market leaders and the only company in SW Florida with a Free Foreclosure Tour Bus. We are the experts and have the credentials to back it up. I also hold a REO certification from the prestigious Five Star Institute. This certification is only earned by a select few in our industry that have passed an intensive course and test. With over 24 years of local experience and credentials only one real estate in SW Florida can demonstrate. My company prides itself on customer service and one on one attention. Designations also include the GRI (Graduate of the Real Estate Institute). Former CMA Lic, and a 4 year BS degree from Florida State University. Finally, born here in Lee County I believe in making a proactive difference in our local real estate market.