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Realtors in Southwest Florida have noticed a change in pace in the local real estate market. It’s started to slow down a bit, and that’s a good thing.
Last year, we saw a significant boost and accelerated momentum. Consumer confidence, housing demands, home sales, home sale prices, and new construction were all on the up and up. The economy was recovering. It was exciting.
Instead of a gradual recovery, in this case, the market caught up at a fast pace. While we needed that boost to pop our heads up out from under the waters of a long recession, the speed of propulsion forward wasn’t sustainable. Now, we’re seeing an appropriate, healthy adjustment in the market.
There’s been a slight deceleration in home sales, land sales, and construction and development. It’s a balancing out. Due to high housing demand and low housing supply last year, home prices increased very quickly, which then led to affordability concerns. As the market slows down, we’ll see how the housing supply shifts, but industry leaders do anticipate that home prices should start to level out, driven by the buyers market.
If you’re interested in Sanibel real estate–whether you’re buying, selling, or just looking–contact one of our knowledgable Sanibel realtors, search our MLS for available properties, or get in touch with our office at 239-272-2411 for general inquiries. We’re also more than happy to help you find the Sanibel realtor that’s the right fit for you.
Source: Florida Realtors
This article is provided by John R Wood Properties, a full service Sanibel Island real estate agency made of people who love where they live as much as what they do. With local knowledge and decades of combined experience, our Sanibel and Captiva Island realtors are passionate and dedicated to exceeding your real estate needs.
About the author: Nina Rogers is a writer, designer, and illustrator who grew up on Sanibel Island. As a Communications Content Manager for John R Wood Properties, Nina enjoys keeping people updated with the latest in local news and Sanibel real estate.