Real Estate Matters: 2016 End of Season Sales Report

Producer: Rachel Rothe
Published: Updated:

FORT MYERS, Fla. – The first quarter real estate sales numbers are in. Real estate expert Denny Grimes from Denny Grimes & Company stopped by the WINK News studio to put the season in perspective.

This year we have some clear signs that the market is cooling down, which is something we begin to see in January.

Let’s look at the numbers.

1. Home Sales: Here is the big news

  • Lee and Collier are both down (15% & 14% respectively)

2. Condo Sales, even more dramatic

  • Lee & Collier both down 21%

There is a trend that home sales are trending downward:

Lee & Collier Co. has five straight months of slower sales

3. Home Prices are mixed

  • Lee & Collier are way up year over year
  • Lee +11%
  • Collier +31%

But that doesn’t tell the whole story. Home Prices are trending downward in Lee County

* December 2015 Median was $231,000. Qtr I is $219,000 Down 5%

* Collier on the other hand is up 18%.

Condo prices are up 7% in Lee and 5% in Collier

There’s one more important stat, and that is INVENTORY.

Inventory is up over 40% in Quarter I, which is good news for buyers.  There is more to choose from and prices and sellers’ expectations have softened, so now is a good time to strike a deal.

Buyers should remember an adage in real estate and that is, “the best homes go first because they are the best.”  That will continue to be the case.

If you have a question that you would like Denny to answer, email him at Denny@dennygrimes.com

Copyright ©2024 Fort Myers Broadcasting. All rights reserved.

This material may not be published, broadcast, rewritten, or redistributed without prior written consent.