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Real Estate News

Southwest Florida July 2021 Real Estate Market Report

Below is a snapshot of July 2021 Southwest Florida Real Estate Market Report.

Closed Sales
Closed sales for the 12-month period ending July 31 were up 54.6% from the preceding 12-months. Year to date, closed sales posted a 58.6% increase over the same period last year.

Listing Inventory / New Listings
After several months of decline, the number of homes on the market stabilized in May and has since posted modest and steady increases. The 2,520 listings on the market as of July 31 were down 72.5% from the same date last year, and were up 11% since the end of May. Trends resulting in this increase slowly started to develop in recent months with a cooling of the feverish buyer activity that occurred early in the year and a greater than normal inflow of new listings.

Average Selling price
The average selling price for the 12-months through July 31 was $605,328, up 31.5% from the preceding 12-month period.

Summary
Our market continues to move in a positive direction. Demand, although having subsided somewhat from its previous intensity, remains strong. This, combined with favorable new listing activity, has stabilized listing inventory and provided more options for buyers. This is welcomed news for buyers who may have previously been reluctant to enter the market.

July 2021 SWFL Market Report

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Island Update Real Estate News

John R Wood Properties 2021

The Brand Evolution of the most storied Real Estate Company in Southwest Florida!

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Real Estate News

Florida Mortgage Rates Drop Again

Florida Average Mortgage Rates Falling 2.93%

Inflation hasn’t pushed mortgage rates higher because the market believes it’s only temporary, says Freddie Mac chief economist.

This week’s average mortgage rates fell a bit more, to 2.93% from last week’s 2.96% for a 30-year, fixed-rate loan, according to Freddie Mac’s weekly update. In times of rising inflation, mortgage rates begin to rise. However, that hasn’t happened this time, at least so far.

Mortgage rates for the week of June 17, 2021

  • The 30-year fixed-rate mortgage averaged 2.93% with an average 0.7 point for the week, down from last week’s 2.96%. A year ago, the 30-year FRM averaged 3.13%.
  • The 15-year fixed-rate mortgage averaged 2.24% with an average 0.6 point, up slightly from last week’s 2.23%. A year ago, the 15-year FRM averaged 2.58%.
  • The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.52% with an average 0.3 point, down from last week’s 2.55%. A year ago, it averaged 3.09%

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Click here to search Sanibel, Captiva & SWFL properties for sale

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Island Update Real Estate News

Hurricane Season Preparation Tips

The 2021 hurricane season is here. Readiness implies something beyond making a fiasco pack and evaluating your family’s disater plan, albeit these are basic initial steps.

There’s significantly more you can do to secure your home and family before a hurricane hits. You can limit expected damage from flooding and high breezes by being ready.

Plan in advance

  • Document items and contents in your home in photos.
  • Put together your disaster kit. This includes, but is not limited to: shelf stable foods, water, flashlights, battery-powered radios, batteries, medical, accessibility and pet supplies, cash, and first-aid supplies. If you wait until the last minute, you may encounter diminished or depleted supplies, crowds, and increased traffic on our roads.
  • Buy a National Flood Insurance Policy from your insurance company. Standard homeowner’s insurance policies do not cover flood damage. See msc.fema.gov/portal to know the flood risk in your area and see floodsmart.gov for information about risk and rates.
  • Download the FEMA app at fema.gov/mobile-app. The app provides disaster resources, safety tips, maps of open shelters, and weather alerts from the National Weather Service. Go to Ready.gov for more details.

Trees with trunks larger than six inches in diameter should be far enough away from your house that they cannot fall on it. Remove branches that loom over utility wires. Professional regular pruning done can create a sturdy, well-spaced framework of tree branches with an open canopy that allows wind to flow freely through.

During a hurricane watch

Obtain severe weather information from NOAA website www.noaa.gov it provides real time data.

  • Keep an eye on phone alerts, stay tuned to TV or radio weather reports
  • Activate your disaster plan, go through your disaster kit. Make sure you have enough stock of essential items such as food/water, flashlights, battery-powered radios, batteries, medical, accessibility and pet supplies, cash and first-aid supplies.
  • Place your important documents such as as driver’s licenses, social security cards, passports, birth certificates, vehicle registration cards and insurance policies in a waterproof, portable container.
  • Know what you and your family will do if there is an evacuation order.

During a hurricane warning

  • Keep an eye on phone alerts and regular weather reports
  • Fill vehicle with gas
  • Keep your mobile devises fully charged
  • Disconnect electrical appliances
  • Bring your pets inside
  • Bring any loose items such as trash cans, yard furniture, bbq grills, items on your docks etc inside.
  • If you evacuate, turn off gas and electricity at the main switch or valve.

For additional information on hurricanes, visit ready.gov/hurricanes; for details on floods, visit ready.gov/floods. For more information on recovery, visit FEMA.gov, or follow @FEMARegion4 on Twitter and FEMA’s Facebook page.

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Real Estate News

HomeLook Magazine June 2021

HomeLook Magazine June 2021 Edition

Browse through our collection of feature Sanibe, Captiva, & SWFL properties for sale. Featured Residential, Condo and Vacant lot listed for sale. Homelook Magazine demonstrate our portfolio of active MLS listing.

HomeLook June 2021


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Real Estate News

April 2021 Southwest Florida Real Estate Insights

Closed Sales
April posted 4,837 closed sales, over double that for April of last year when an abnormally low 2,234 sales were posted due to the initial impacts of the pandemic. Comparing April 2021 sales with the average for April 2017, 2018, and 2019, sales were up 74% from 2,774 to 4,837. On a 12-month rolling basis, sales through April 30 were up 40.8% from 27,658 to 38,942.

Listing Inventory / New Listings
As of April 30, 2021, there were 2,390 properties on the market, down 79.8% from the same date last year when 11,801 properties were available. Months of supply as of April 30 was under one month, at .74, down 85.6% from last year when 5.12 months was posted. New listings for April were up 95.4% from last year, mainly due to last April’s sharp but temporary drop in new listings due to uncertainty about the pandemic at that time. However, at 3,587, new listings for April 2021 were consistent with the 3,670 average for April 2017, 2018, and 2019. On a 12-month rolling basis, new listings were up 1.7% from 38,149 to 38,800.

Average Selling price
For the 12-month period through April 30, the average selling price was $557,227, up 23.15% from the preceding 12-month period when a $452,496 average was posted.

Summary
We’ve experienced a steady decline in standing inventory over the past year; however, the rate of that decline has started to decrease in recent weeks. This is due in part to a modest increase in new inventory entering the market over the past few weeks when compared to typical patterns for this time of year. With standing inventory still in short supply, it is this increase of new inventory that is helping satisfy continued strong buyer demand

April 2021 Insights

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Real Estate News

LEE COUNTY HOME SALES UP 35%

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Island Update Real Estate News

STATUS UPDATE FROM CITY OF SANIBEL

The city of Sanibel provided the following status update date June 3rd

Sanibel of City Update June 3rd