September Southwest Florida Real Estate Outlook

September 15, 2023 | Blog

In just a few days, we’ll mark the one year anniversary of Hurricane’s Ian landfall in Southwest Florida.  The sights and sounds of the storm are still fresh for many of us.  But, our community has come a long way on the path to making a full recovery.

Our barrier islands are slowly recovering. This includes businesses and restaurants reopening, and preparations being made to welcome seasonal residents. It’s a positive sign for the local economy and community.

The fact that Fort Myers Beach and Captiva are hosting the annual Island Hopper Songwriter Fest is a positive sign that the tourism and entertainment industry is bouncing back.

Hurricane Ian had an impact on our local real estate market, with an increase in investment activity.  Many homes that were damaged and sold by owners in the months after Hurricane Ian have been repaired and are re-entering the market.

However, this isn’t enough to overcome the shortage of homes for sale.  The shortage continues to create increased competition among buyers.  With just over 4,600 single family homes on the market in Lee County, the median sales price in August topped out at $375,000.

While single family home prices slipped slightly from a year ago, condo and townhome sellers experienced a 10-percent increase in sales price year over year.

It’s important for potential buyers and sellers to stay informed about local real estate market conditions and work with a real estate agent who has knowledge of Southwest Florida’s specific challenges and opportunities.

Additionally, being aware of the potential impact of hurricanes on property insurance costs and building standards is crucial when dealing with real estate in hurricane-prone areas.

Overall, Southwest Florida’s housing market is strong and when you’re ready to make your move give us a call 239-542-1075.

Click on the graphs below for a detailed view.