Data sourced from:
- Residential Data is from MLS.
- Cape Coral Permit Number from the City of Cape Coral.
- Retiree Data is from Census.
- Trended with Microsoft Excel.
- Unless otherwise stated, charts contain all Residential assets.
- Disclosure: My work is done for me and shared with you.
2018 Lee County Florida Market Update: Lee County Metrics
Volume and sales counts 1/1 thru 12/31
The increase in Volume and sales counts are significant. This is from the stellar year the market was having before Hurricane Irma.
Volume and sales counts 1/1 thru 12/31
Cash Sales Percentage 1/1 thru 12/31
The percentage of cash sales is higher than the national average and the state of Florida average. That inherently gives the market stability.
Distressed Sales 1/1 thru 12/31
The lack of distressed sales indicates that there is very little bank-owned inventory.
Sales Counts by Property Type:
|Low Rise (1-3)||3,343||3,461||3.53%|
|Mid Rise (4-7)||677||709||4.73%|
|High Rise (8+)||419||522||24.58%|
Pricing by Property Type:
|Average Price 2016||Average Price 2017||Difference|
|Low Rise (1-3)||$202,530||$205,990||1.71%|
|Mid Rise (4-7)||$262,797||$266,539||1.42%|
|High Rise (8+)||$547,304||$512,338||-6.39%|
2018 Lee County Florida Market Update: What submarkets are growing?
|Fort Myers Beach||$235,098,215||464||$506,677|
|North Fort Myers||$170,726,157||963||$177,286|
|St. James City||$42,259,442||154||$274,412|
Year over year change by percentage: Red showed a reduction in volume
|Fort Myers Beach||6.94%||4.04%||2.79%|
|St. James City||-2.08%||1.99%||-3.98%|
|North Fort Myers||-2.47%||-6.32%||4.11%|
2018 Lee County Florida Market Update: Bubbles of sales Activity
2018 Lee County Florida Market Update: Hurricane Irma and the Market.
Quarter 1 thru Quarter 3:
2018 Lee County Florida Market Update: Volume and sales counts Q1 – Q3
2018 Lee County Florida Market Update: Pricing Q1 – Q3
2018 Lee County Florida Market Update: Quarter 4, Hurricane Irmas aftermath.
2018 Lee County Florida Market Update: Quarter 4
Sales counts and volume.
Median and Average Pricing.
The data shows that Hurricane Irma had an effect on the market. The bubbles charts show a reduction in the sales above $500,000. It does not take many of these price points to change the volume.
2018 Lee County Florida Market Update: Where are we at in this cycle?
We are correlating the last cycle from a retiree demographic standpoint but without the leverage driven mania that we experienced 200- 2006. We have a great demand than we did 2004-2006. We also appear to be growing a bit more checked. I attribute this due to the constraints in Dodd-Frank.
Things to watch for?
- Volume and pricing in season. We have a very early Easter (4/1/2018). This leads to a busy March and May/June.
- What effect do the millennia’s have on the market as they enter?
- Cape Coral lot metrics and permit growth?
- Dodd-Frank being repealed or watered down.
- When landlords can get an acceptable gain elsewhere. There is a lot of trapped equity. Rising interest rates could provide a destination for the trapped equity in the market.
- Rising Prices can provide a barrier for retirees.
- Workforce housing shortage?
- Tiny homes.
- New Fed Chief? Will they change velocity that rates are raised?
- True effect on the tax reform?
- Stock Market? What if it crashes? What if it does not?
- Cryptocurrency long-term trajectory and how mainstream does it become?
Stay tunbed and subscribe to our blog and or facebook page. We have an update coming from season and more work on the distressed, building permits and Cape Coral lot market.
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During the beginning of the housing downturn Steelbridge Realty LLC was the Brokerage arm of several private equity entities. We assisted them with asset modeling and market metrics. Many prominent local commercial projects were included in this scope of transactions. in 2012 Jeff and Cristina bought the other partner out and relocated the company to North Fort Myers. It now serves as a boutique style firm cater to it clients and the community at large.
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