Easter came early this year. What does this mean for the Naples Florida real estate market? What does this mean for the Bonita Springs Florida real estate market or the Marco Island Florida real estate market? To understand our local real estate market, you have to realize that we have three seasons in my opinion. Our winter season is coming to an end.
As the winter season (Christmas to Easter) starts winding down, it is important to note that a lot of contracts will be written in the two weeks after Easter. Many of our northern visitors will be heading back home by the end of April. Some will be heading home early to take care of their tax return! For a seller, knowing that the winter season is coming to an end, you might want to consider one more price change in the hopes of generating an offer. For the buyer, you might want to put an offer in as many properties will go under contract in the next two weeks.
As we enter the month of May, this is viewed as a transitional month. The winter visitors will be gone and the summer visitors are not here yet. This is a great month to get your property ready for what many think will be a good summer season.
What are the summer visitors like? We see many international visitors in the summer. We also get a lot of East Coast Floridians vacationing on the west coast during the summer. When school is out, you tend to see more families traveling around the state.
Let me give you an amazing statistic that every seller in Southwest Florida should be aware of. In fifteen of the last eighteen years, Downing-Frye agents have had more closings in the summer (June, July, August) than in the winter season of January through March. Let’s put that in perspective. Downing-Frye agents have had more closings in this period than any other local real estate brokerage firm.
In the fall, a lot of buyers come down hoping to get first pick of the inventory before the winter visitors arrive. Also in the fall, you get some buyers who are ready to move quickly with their purchase decision as they hope to secure a property before the winter months. The goal is to have a home to visit during the winter months of January through March.
Many of the local realtors are bullish on the coming year. There does not appear to be a lot of “storm clouds on the horizon “. We have a good amount of inventory for buyers. Interest rates, though they have gone up a tad, are still historically on the low end of the spectrum.
The winter visitor season was pretty strong. I suspect that we will have a lot of summer visitors as well. Regardless of the season, you have a chance to own a piece of paradise.
Welcome to Florida!
Mike Hughes, Vice President
Downing-Frye Realty, Inc.
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