The BEST Time to Buy in Southwest Florida?
Posted by Benjamin Dona on Saturday, November 9th, 2013 at 3:50pm.
When is the best time to Buy in Southwest Florida? We get this question all the time. After struggling with this question for many years, we took a look at the statistics available to us to see just how much we could "glean" to answer the question. After looking at the year to date information regarding months of inventory, what is our lowest sale price for each month, what is the trend in sales prices, how many homes sold and their median price, how many new listings come on the market each month, and how many days on market (DOM) did property average until selling, we've found that the market is so rapidly moving we may not be able to rely upon the past "rules of thumb."
Each one of the graphs and explanations below will give you a picture of the activity during certain months and you can make some legitimate decisions about timing a purchase; but, unfortunately, that won't present a clear picture to you for pulling the trigger.
Real estate is always local – everyone has heard the phrase, "Location, Location, Location!" many times in their adult life. Sometimes sayings are true because they actually have meaning. For real estate purchases, desire to live in a certain location will typically win over every buyer eventually. Then you’ll want to look at that locale and see how many homes that fit your criteria are actually available for sale, followed by how quickly do they sell.
Here is an example for all properties from November of 2012 to October 27, 2013, in Bella Terra. Bella Terra is in an excellent location, enjoys easy access to Ft. Myers, Bonita Springs, Naples, the airport, and five star beaches, shopping and dining. The community is a mixture of single family homes, attached villas, townhomes, and two story condominiums. The fees are reasonable for the services and amenities and Bella Terra attracts a large demographic of young professionals, families, second home owners, and retirees because of their pricing which ranges from as little $100,000 for condominiums (although rising rapidly) and over $500,000 for their largest single family homes.
To finish reading our entire post on When is the BEST Time to Buy in Southwest Florida? and how we arrived at our conclusions, please visit our Realty Times page Here.
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About the Author
Benjamin Dona is the Broker and Owner of Gulf Coast Associates, Realtors in Bonita Springs, Florida. He holds two advanced degrees, an MBA and an MA, and has an extensive background in both business and marketing. In 1998, he founded Gulf Coast Associates, and formed a group of like-minded Realtor® associates dedicated to offering professional Southwest Florida real estate services by concentrating on information, education and the use of leading edge technologies. He also is a recognized expert on the "Net," a much-quoted and read blog author, and a contributor to both national and international news outlets. Benjamin is a member of the National Association of Realtors, the Florida Association of Realtors, and numerous local real estate boards throughout Southwest Florida.
Contact Benjamin Dona at 239-948-3955
Southwest Florida Real Estate Blog