By Brett Ellis
Each year we provide a SW Florida Real Estate State of the Market Report based on year-end numbers and current trends we see in the local SW Florida real estate market.
SW Florida Real Estate State of the Market Report
Today we’d like to update you on sales prices and inventory levels. As you can see from the Year End Prices graph, prices have been moving upward since 2009. The median sale price in 2009 was $90,400. Compare that to 2014 median price of $190,000 and you can see that prices have more than doubled in just 5 short years.
We have circled the last year on the graph to call to your attention something we’ve been saying for awhile. While our market is as healthy as it’s been in years, we could be returning to a period of more moderate growth, which is a good thing. As we learned from the previous Boom, the market cannot sustain 15-20% prices increases forever. Everybody knows that. Traditionally 3-5% is the average, and we’ve been beating that by wide margins. This was OK because in our opinion the market over-reacted and fell too far, so it had …read more
Source:: Top Agent