Interest rates: Better to buy a home now or wait?NEW YORK – May 10, 2018 – With heightened talk of rising interest rates, many prospective homebuyers are understandably concerned about whether'
Lee County Condos Popular
Condo sales have sky rocketed in Lee County over the last few months. In August alone, the number of sales shot up 20% year over year. That's 602 pending condo sales vs 499 in 2016, which is impressive to say the least! Median sales price was also up 7% over last year topping $175,000 for August 2017, and the number of closed sales was up 4.5%.
The days of getting a "steal" can be logged in the history books. The foreclosure market for August 2017 was a measly 13 condos, down 13% over last year. And short sales continue to rapidly decline, down 83% over August 2016. That's not to say that there aren't properties out there that can be bought at a value, but they're most likely going to need some TLC to bring them to current market value.
What does all of this mean? Well, if you're looking to save some money, be ready to get your hands dirty and prepare for a remodel. If you're wanting move in ready and updated, be prepared to pay full [or close to it] market value. With condos selling at 96% of list price, on average, you might have some room for negotiation, but not much.
I am a Fort Myers native, and absolutely LOVE to call SW Florida my home. I am a wife to an amazing husband, a mother of three beautiful children, a sister of two incredible families, a daughter of v....