This looks like the year to be in South West Florida to purchase that special waterfront home. Over the past few months we have watched the waterfront home active listings for our area steadily decline.
Lee County sales counts are up over 100% over April 2008 – though prices have fallen like a rock over the past 12 months. Inventory of single family homes has fallen almost 1,000 in less than 60 days. The waterfront home inventory has declined the fastest. Waterfront Houses are moving fast, often going under contract within days of being listed and when they close they either sell at the asking price. We have a tremendous amount of cash buyers in the waterfront market. The purchasers buying who are financing their purchase are finding the lowest rates they have ever seen. With prices and rates low it affords an opportunity not to be missed.
This market for a waterfront home in Cape Coral and Fort Myers area will not stay forever and I see things very differently 3 to 5 years from where they are today.
If you are looking for that specail waterfront, now is the time. Sales markets change but the weather in SW Florida doesn’t.