Sanibel Real Estate Blog: Median Price up a Bit

September 23rd, 2016

August stats for Lee County have just been released and the median price for a single family home is currently $225,000, up 11% from last August. There was also a huge jump in sales in the over one  mill category of 80% with 27 homes sold in that range this past month. Closed sales for August were also up in single family sales by9.3% but down in condo sales by 4.1.

Active listings have risen as well, so we may see a tightening on the prices. 41% more condos for sale this August and 16% more single family homes.

Get the up to date scoop on all Sanibel real estate listings by calling Chuck Andrews, Re/Max of the Islands (239-849-3396)  or check out our website at www.chuckandrews.com.

Sanibel Real Estate Blog: Pending Sales Rise

September 1st, 2016

Pending home sales expanded in most of the country in July and reached their second highest reading in over a decade, according to the National Association of Realtors® (NAR). Only the Midwest saw a dip in contract activity last month.

The Pending Home Sales Index (PHSI), a forward-looking indicator based on contract signings, rose 1.3 percent to 111.3 in July from a downwardly revised 109.9 in June. It’s now 1.4 percent higher than a year ago in July 2015 (109.8). The index is now at its second highest reading this year after April (115.0).

Lawrence Yun, NAR chief economist, says a sizable jump in the West lifted pending home sales higher in July.

“Amidst tight inventory conditions that have lingered the entire summer, contract activity last month was able to pick up at least modestly in a majority of areas,” Yun says. “More home shoppers having success is good news for the housing market heading into the fall, but buyers still have few choices and little time before deciding to make an offer on a home available for sale. There’s little doubt there’d be more sales activity right now if there were more affordable listings on the market.”

Yun says the “index in the West last month was the highest in over three years largely because of stronger labor market conditions. If homebuilding increases in the region to tame price growth and alleviate the ongoing affordability concerns, the healthy rate of job gains should support more sales.”

Recent residential construction data shows that the size and costs of new homes has moved downward over the past year. According to Yun, this is an early indication that homebuilders are beginning to shift away from building larger, more expensive homes for the upper end of the market to focusing more on properties geared for buyers in the middle and lower price tiers.

“Realtors in several high-cost areas have been saying for quite a while that there is robust demand for single-family starter homes and townhomes at an affordable price point for young buyers,” says Yun. “The homeownership rate won’t move up from its over 50-year low without a meaningful boost from first-time buyers, whose participation has yet to noticeably increase so far this year despite mortgage rates near all-time lows.”

NAR forecasts existing-home sales this year to be around 5.38 million, a 2.8 percent increase from 2015 and the highest annual pace since 2006 (6.48 million). After accelerating to 6.8 percent a year ago, national median existing-home price growth is forecast to slightly moderate to around 4 percent.

IF you want to see your Sanibel real estate on the “pending” home sales list- give us a call to discuss your neighborhood and home or check out the current listings at www.chuckandrews.com.

Sanibel Real Estate Blog: New-home sales climb

August 24th, 2016

The AP has just reported that Americans stepped up their purchases of new homes in July to the fastest pace in nearly nine years. Thank you to low mortgage rates!

New-home sales jumped 12.4 % last month- the best jump since October 2007. The demand has eclipsed the pace of construction, just 4.3 months of supply is on the market nationwide, down from 5.2 months  last year at this time.

If you are looking for a new home in the Fort Myers or Sanibel area, we can provide all of the info  that you need. If you are interested Sanibel real estate resales(not much new on Sanibel!) , check out our website at www.chuckandrews.com or give Chuck a call anytime at 239-849-3396 with Sanibel real estate help. Kimberley has the info on new home sales in Ft. Myers, so if brand new floats your boat, give her a call anytime at 239-935-9235.

 

Sanibel Real Estate Blog: Floridians are Happy!

August 10th, 2016

HomeAdvisor surveyed 17,629 homeowners last spring across the country asking questions designed to see how happy they were in their homes. Florida ranked six in happiness only to be outranked by California, Washington, New Mexico, Colorado and Arkansas. The least happy states were Maryland, Indiana, New Jersey and Delaware.

So c’mon get happy! Check out Sanibel real estate at www.chuckandrews.com or give us a call to discuss buying or selling Sanibel real estate anytime at 239-849-3396.

Sanibel Real Estate Blog: Summer Doldrums!

August 3rd, 2016

IN spite of being the hottest summer we can recall, the real market has cooled off a bit since 2015. Still healthy- just not robust! At this point in the summer, closed sales are down 25% year to date. With 261 closed sales so far this year we are only about half way to the total of 2015 ( 496). The problem of sales likely lies with the low inventory- down 20% from this time last year.

Either way, buying or selling, we can help with Sanibel real estate. Check out our listings at www.chuckandrews.com or give us a call at 239-849-3396 to discuss the real estate market anytime!

Sanibel Real Estate Blog: June sales info

July 25th, 2016

The June sales numbers are in for Lee County and it looks like we took a drop in actual sales but there was another uptick in prices.

WE had 1177 closed single family home sales in Lee in June and last June we saw 1342 closed sales.

There was a jump in the median price however since last June of 10%, bringing the new median sales price on single family home to $ 230,500.

If you are ready to jump into the Sanibel real estate market or just have questions about your Sanibel real estate market value, give us a call anytime at 239-849-3396 or check out our listings at www.chuckandrews.com.

Sanibel Real Estate Blog: Island Hopper Fest

July 14th, 2016

The free music festival is back and scheduled for Sept 23-25 on Captiva and Sept 30-Oct. 2 on Fort Myers Beach. The headliners were announced this week and it looks like Maren Morris (It’s My Church) will be appearing as well as Bob Dipiero( Southern Voice), Even Stevens ( I love a Rainy Night) and Frank Myers ( I Swear). Make your plans to visit one of these venues.

If the trip to Captiva has you thinking Captiva or Sanibel Real Estate, check out our website at www.chuckandrews.com, or give us a call at 239-849-3396 to discuss Sanibel Real estate.

Sanibel Real Estate Blog: the 4th of July on Sanibel

June 30th, 2016

NO shortage of activities on Sanibel Island this 4th of July! Start your day with a pancake breakfast and Sanibel Community Church, served 7:30-9:30. Then head down Periwinkle and catch the amazing 4th of July parade. What to try a road rally? Head to Timbers Restaurant and 12 and sign-up. Spend some time walking the beach (or just sitting and admiring the view) and dusk will bring fireworks on the causeway. Sanibel is the place to be in Southwest Florida this 4th!

If a visit to the island has you curious about the Sanibel real estate– check out our website at www.chuckandrews.com or give us a call to discuss Sanibel real estate anytime.

Sanibel Real Estate Blog: Florida Sales & Listings Rise

June 24th, 2016

May stats are in and the state of Florida has a good month. Closed sales of single family homes were up 4.5% over the May 2015 figure.

Meanwhile, those of you checking out Sanibel real estate will find the Lee County numbers ever so slightly down at 0.1 % lower than last year (that is one fewer home), and condo sales fell 6.2% from 662 to 661.

Median prices in our area are up 4.7% to $225,000 from the previous $215,000. Condo sales price dropped slightly from $190,000 to $185,000

Always when purchasing real estate the best thing to do is analyze your neighborhood or the neighborhood that you may be purchasing. Chuck and Kimberley can help you sort it all out. Whether purchasing Sanibel real estate or Ft. Myers real estate, we can help!

Sanibel Real Estate Blog: A Note From Chuck

June 14th, 2016

Chuck has been reviewing the  Sanibel real estate stats as of this week and he has this to say:

Compared to this time last year our closed sales are down 21%. Home sales are down 23% and condos are down 13%. Our listing inventory is up 9% since January 1 and that is partly due to the slow sales activity.

The good news is that the median sales price for both homes and condos is up 8%. With smaller inventories and good comp sales, sellers are staying closer to their asking price than previous years.

Call Chuck Andrews to review the Sanibel real estate market anytime or check out our listings at www.chuckandrews.com