The Summer 2022 State of Real Estate
We hope you are well and enjoying your summer. We want to update you quickly on the ever-changing real estate market in SW Florida.
SW Florida is a unique real estate market and although we experience some of the same trends as the rest of the country we also have some distinctive variables.
Some of those variables are:
- A large number of Investors (HUGE vacation destination!)
- An exceptional number of cash transactions (nearly 70% of all sales are cash transactions)
- A large number of second homes/ retirement homes (Snowbirds & Retirees)
Housing inventory is increasing, albeit slowly. Home values are stabilizing yet are predicted to rise throughout the year, although not at the alarming pace, we saw in 2021 and the beginning of 2022.
The image is a graphic to help illustrate what we're seeing and forecasting through 2022.
We'd be delighted to have a conversation and provide you with more details so you can make the most informed decision.
What makes SW Florida's real estate market unique compared to other markets in the US?
SW Florida's real estate market has several distinctive variables, including a high number of investors due to its popularity as a vacation destination, an exceptional number of cash transactions (nearly 70% of all sales), and a large number of second homes and retirement homes, which attract snowbirds and retirees.
Are home values in SW Florida still increasing at an alarming pace?
While home values in SW Florida are predicted to rise throughout the year, the pace is not as alarming as what was seen in 2021 and the beginning of 2022. Housing inventory is also increasing, albeit slowly, which may help to moderate price increases.
How can I get more information about SW Florida's real estate market and make an informed decision?
If you are interested in buying or selling property in SW Florida, it's important to work with a knowledgeable and experienced real estate agent who understands the local market. Our team would be delighted to have a conversation with you and provide you with more details about the current market conditions and forecast.