It’s been more than a month since the nation has begun to adapt to a “new normal” of how to live life during a global pandemic. And while industries across the board have been impacted, the real estate industry is faring better than you might expect.
For example, data from the MLS indicates that during the month of April, there were 2016 new listings in Southwest Florida (SWFL). MLS data also notes that 2,244 SWFL homes were sold and1,825 homes were pending sale, Buyers may be interested to learn that during the last week of the month, 571 price reductions were reported.
Are the numbers down year-over-year? Of course, they are, and for all of the obvious reasons. However, the good news is that we do not believe we’re on the cusp of the type of real estate recession that we experienced in 2008-2012.
There are two key differences between now and then.
First, during the global housing crisis, there was a lot of predatory lending. Second, and also during that time period, there was very little equity in a lot of the properties.
In the years since 2012, sellers and lenders learned a lot of good lessons, and many homes now have a good amount of equity. However, buyers and sellers need to still be wise and make smart decisions.
So what does this mean for our clients?
It means that consumers need to be cautious and make good business decisions. We can’t stress this enough. It’s also worth noting that there are a lot of motivated sellers out there, which makes May a great time for buyers to enter the market.
In terms of sellers, they need to be aware that despite the fact that inventory is low, new construction is still offering discounts and big incentives for buyers. When it comes time to price your home, be sure you price in front of (as opposed to chasing) the market.
If you’re looking to buy or sell a home, our team is here to help you achieve your residential real estate goals. Whether buying or selling, our tools are PROVEN to help you get the most from your transaction!
$499,000
17980 Bonita National Blvd 1924 Bonita Springs, Florida
2 Beds 2 Baths 1,344 SqFt 0.3 Acres
- Open House Search! The Paradise Luxury Group now has a website dedicated to showing you all open houses in the Southwest Florida area! No more driving around aimlessly – now you have a plan! Don’t forget to call your Paradise Luxury Group Agent to accompany you on your open house visits! Check out today’s open houses at https://paradiseluxurygroup.com/open-house-search/
- Detailed Market Analysis – Get active, pending, and all sold properties near your home or within your community within the past six months, as well as average sale price and the average days on market and more right HERE!
- New Streamlined Communications System – Our client resources and tools now reside on a dedicated server, making your experience faster and more convenient than ever! No other real estate team in Southwest Florida has the technical tools we have dedicated to serve you!
- Monthly Market Report. Let us present you with the most accurate data about your neighborhood including closed and active home sales. Visit: MarketReportSignUp.com
- Website Online Chat. Chat with our team in real-time to get your questions answered now!
- Elite Seller Feedback System – Take advantage of my sophisticated and exclusive system that provides valuable feedback from your showings via email, so you know what buyers are thinking.
- Interactive Home Illustration – Give buyers what they want to see with professional images and videos of your home!
- Superior Marketing Plan – Our marketing plan is unlike all others in this market! It will maximize exposure and get top dollar for your home.
- Updated Easy-to-read eMail Template – You’ll be able to review our messages and quickly access such as our featured listings, market reports, and quick links to various communities and all of our exclusive market tools!
