Fort Myers, FL housing market

Fort Myers home values are down about five percent in a year, and the typical home now sits for over three months. Here is what that means if you are weighing a sale this year. The typical Fort Myers home is now worth about three hundred thousand dollars, after sliding a little over five percent over the past twelve months. Meanwhile, there are about two thousand five hundred homes for sale, and the median listing is taking ninety-four days to move. Only about 470 new listings came on this month, so this is not a flood of fresh supply. It is stale supply. And here is the number that explains why. The median asking price is about three hundred twenty-eight thousand dollars, roughly twenty-eight thousand dollars above the typical home's actual value. Sellers are still pricing for last year's market, and buyers are not paying it. About 17 percent of listings have already cut their price, and more will follow before they move. If you decide to sell, price at today's market from day one, because an overpriced home in Fort Myers sits for months, then cuts, and often still sells for less than it would have at the right price. To find out what your home is worth right now, get a free estimate at Home Value Pros dot com.