As a resident of Moody River, I keep my finger on the pulse of the market. Moody River Estates is a great community located 2 miles from historic downtown Fort Myers and offers all the resort amenities and a great location for a great value. Inventory continues to fluctuate and prices continue to slowly increase. If you are looking to buy or sell in Moody River Estate is North Fort Myers, contact NextHome Advisors – The Jakus Realty Team, the local neighborhood experts to help you.
We currently have 7 months of inventory for Townhouses and Condos in Moody River Estates and 6 1/2 months of inventory for single family homes. Although sales in Moody River Estates have been soft in 2016, with the last few new construction homes and lots being sold, we should se some increase in sales in 2017. Inventory overall in Lee County Florida is on the rise and although prices are up slightly they have slowed down considerably.
Condos and Carriage Homes
Single Family Homes
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Fort Myers Florida Real Estate continues to be a strong market for both buyers and sellers depending on where you actually live. I took a look at single family homes in zip code 33919 since that is where our main office is located (see first graph below). As you can see, for the first time this year there is less than 3 months supply of inventory.
It is much different in the adjacent zip code of 33908 for Single Family Homes in Fort Myers Florida. Here we see a rise in inventory, with over 7 months of inventory in July 2016. As a buyer, you should know that pricing is a game of supply and demand. Additionally the price per square foot in 33908 is $ 174 per square foot vs. $ 164 per square foot in the 33919 zip code. The activity in 33908 for sold units and pending sales is significantly lower than 33919 as well.
The key thing when making a purchase in Lee County is to work a REALTOR who is demonstrates knowledge of the area, the market and can negotiate the best buy for you. If you are looking at selling, the same is true. Pricing a property to sell with very little movement in certain areas is absolutely the key.
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If you look at the “crash” of 2007 and 2008, the available inventory was 36 months based on sales. Today, our inventory is less than 3.5 months and as you can see from the chart, median home prices in Fort Myers near $ 300,000 for a single family home.
June 2016 (Quarterly) is a Neutral market*
Months of Inventory based on Closed Sales in June 2016 (Quarterly): 4.2
• Down 26.5% compared to the last quarter
• Up 31.2% compared to the last year
The foreclosure and REO market is drying up with only 89 total single family homes for sale in June that are foreclosures.
This last chart shows sold properties, pending sales and current inventory in Fort Myers Florida.
For all of your real estate needs or to search all of the most current listings available for sale, please visit us at www.SearchRealEstateFortMyers.com.
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