Housing market in Collier County since Ian

Reporter: Lauren Leslie Writer: Paul Dolan
Published: Updated:
for sale sign
Credit: WINK News

The housing market has seen a bit of a seesaw, going back and forth with prices for some time, but has Ian had an impact?

Home prices are actually going back up in Collier County post-Hurricane Ian. Before the storm, inventory was down by around 70%.

Simply put, supply and demand have shifted things since homes were destroyed in the storm. Because people have to go somewhere, the little inventory that exists is now seeing even greater demand.

While we know this is not the case for everyone, Rick Haas, a real estate broker, told WINK News that those who lost their homes and have the means are now buying rather than trying to find temporary housing.

“Because rental prices are still through the roof, and some of these landlords are starting to gouge people with these rental prices, and it’s very sad,” Haas said. “So people are saying, ‘Well, I might as well just buy another home, live in it for a year, ’cause it’s going to take me maybe six months to a year to rebuild my other home and then move back into my other home and keep this one as an investment or a rental property.'”

The housing market in Collier County is a bit different than in Lee County and Charlotte County. Haas said homes tend to hold value better, so buying right now if you’re able isn’t a bad idea. Haas said the market north of Collier County is feeling and reflecting the effects of the hurricane.

For sellers who were under contract before the hurricane, they are responsible for whatever damages occurred.

WINK News has been told that many people are eating the costs and making necessary repairs in order to close on the sale.

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