Demand vastly outpacing supply in the SWFL housing market

Southwest Florida is facing a housing crisis. Realtors in the area say inventory is low. That forces you to pay more for a home and make compromises when you buy.

Buying a home in Southwest Florida is a goal for many people.

“A lot of people are flocking to Florida. And they’re kind of buying up the property and causing the prices to increase.”

Ingrid Schaefer is touring homes. She is lucky to even get in the door for a viewing.

“We are looking. We’ve been looking for how long, Andrew? A little while. A couple years. He’s been very patient with us,” said Schaefer.

Patience, a realtor, and a willingness to compromise are a homebuyer’s best bets.

“If you’re a buyer, I would get with an experienced realtor, one that is experienced in negotiating and writing good clean offers, and can totally assess your situation and put your best foot forward, and your speed wins,” said Brett Ellis, a realtor in Fort Myers.

Even if homebuyers put in a quick offer, Ellis says there aren’t enough available homes to match the demand.

“Were down to 1,360 homes in all of Lee County. So we’ve been running way too low, and now we’re dipping once again into 1,300s,” said Ellis.

Schaefer is making sure to stick close to her realtor so they can hopefully be a front runner for a home in Southwest Florida.

“Andrew is helping us figure things out. We don’t want to be sort of knowing that we’re spending something that’s actually $100,000 more.”

Naples Realtor Andrew Tennent said, “there are more and more buyers buying with over zoom call like we’re having right now. So if you’re willing to do that, and you have a realtor that you feel comfortable, whether you can trust and everything that that might give you a leg up on the competition.”

Prices of homes in Southwest Florida are expected to keep rising in 2022.