Lee County real estate prices rose 15 percent from a year earlier, rising from $89,100 to $102,100, according to statistics released Monday by Florida Realtors, while distressed sales dropped to 440 compared to 1,146 last October. Nationally though, prices dropped 4.7% from last October and sales rose 1.4 percent to a seasonally adjusted annual rate of 4.97 million in October from a downwardly revised 4.90 million in September, and are 13.5 percent above the 4.38 million unit level in October 2010 according National Association of Realtors®.
To the thousands of new homeowners and investors who have taken advantage of the great deals and prices over the last couple of years, this is great news. What was thought to have taken years upon years before seeing any price increases has been shortened to a couple of years.
Prices will always continue to fluctuate and Lee County is no different. September prices saw a decrease month to month but year over year they were still up.
The local News-Press still keeps pushing the doom and gloom though prices are increasing and inventory is declining. I never quite got the reasoning for that. I’m sure it does not help. But there are always another side of the story.
Regardless, Lee County Real estate is up year over year and though sales were down this month, year over year we continue to show strong numbers of sales according to the Florida Realtors Association. And according to the major banks and REO agents, there is more inventory coming our way and more opportunities for new home owners, investors, retirees and renters.