“SWFL Backyard News”

Updates in the Southwest Florida

Real Estate Market JUNE 2017

 

 

  • Second quarter sales higher than 2016 by 5%, total closings YTD were 2,378.
  • June sales increased from May by 4% and in one year the jumped by 10%.
  • Cape Coral home prices have come a long way since the bottom of the market, approximately 116% although continuing to rise year over year, we are roughly $99k away from peak prices!
  • Average sales price in Cape Coral is $279k a rise of 7% in one year.
  • Ft. Myers mid-year sales totaled 1,860 for single family properties, an increase of nearly 5% from a year ago!

CAPE CORAL FLORIDA

Cape Coral Active Single Family Homes

June 2016: 1,491

May 2017: 1,548

June 2017: 1,503

Cape Coral June Closed Single Family Homes

June 2017: 478

May 2017: 459

April 2017: 431

March 2017: 454

February 2017: 293

January 2017: 263

SWFL Home Price Comparisons June 2017

Cape Coral $279,000 = Affordability!

Fort Myers $335,000 = 20% higher than Cape Coral

Bonita Springs – Estero $542,000 = 94.2% higher than Cape Coral

Naples $665,000 = 138% higher than Cape Coral

 

SWFL GULF ACCESS Home Price Comparisons June 2017

Cape Coral $498,000 = Affordability!

Fort Myers $514,000 = 7.5% higher than Cape Coral

Bonita Springs – Estero $1,000,000 = 109% higher than Cape Coral

Naples $1,800,000 = 276% higher than Cape Coral

FORT MYERS FLORIDA

Fort Myers Active Single Family Homes

June 2016: 1,329

May 2017: 1,560

June 2017: 1,497

Fort Myers June Closed Single Family Homes

June 2017: 312

May 2017: 367

April 2017: 334

March 2017: 357

February 2017: 231

January 2017: 259

June 2016 vs. June 2017

Average List Price $322,ooo vs $350,000

Average Sale Price $308,000 vs $335,000

Average List to Sell Ratio 96% vs 95%

Inventory 4.4mo vs 4.7mo

 

 

 

BONITA SPRINGS – ESTERO FLORIDA

Bonita Springs – Estero Active Single Family Homes

June 2016: 687

May 2017: 673

June 2017: 659

Bonita Springs – Estero FLorida June Closed Single Family Homes

June 2016 vs. June 2017

Average List Price $522,ooo vs $575,000

Average Sale Price $496,000 vs $542,000

Average List to Sell Ratio 95% vs 95%

Inventory 5.4mo vs 4.4mo

 

 

“Industry News”

Qualifying with Delinquent Federal Tax Debt:

Delinquent federal tax debt that does not appear on a borrower’s credit report, or on the title report may remain unpaid provided the following:
Borrower has entered into a valid repayment agreement with the federal agency owed, at least one month of the scheduled payment has been made on time and payment amount must be included in the calculation of the borrower’s debt to income ratio.
Federal tax liens that appear on credit report or a title report: May remain unpaid providing the following: borrower has entered into a valid repayment agreement with the federal agency owed, at least three months of scheduled payments have been made on time, payment amount must be included in the calculation of the borrower’s debt to income ratio.
Borrower cannot pre-pay scheduled payments in order to meet the required minimum of three months of payments.

Low inventory/contingent offers/move up buyers?

Bridge loans may be the answer for those that wish to purchase but have a home they need to sell first. Bridge loans allows the homeowner to buy a new home before selling their current home. Under certain terms, a borrower’s home payment is eliminated so they only have one payment while they sell their current home. The equity in their current home can be used as the down payment for the new home. No principal/interest payments on the bridge loan required for up to 12 months, while the current home is being sold, no application or prepayment fees/penalties and the bridge loan can be used for single family homes and condos that are primary residences. Let me know if you need help with this. I have fantastic lenders to help!

 

WHY I AM AT RE/MAX “REALTY TEAM”

 

Thanks for Stopping by!

For Questions and Comments feel free to contact me!

Vickie Townes, Realtor  ~ 239-671-3300

CLICK HERE >>>Follow Me On FACEBOOK <<< 

 

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