People love living in Florida! Between July 2020 and July 2021, Florida had a net domestic migration of over 220,0000 people, making it the highest ranked state for net domestic migration. Texas ranked second with a net migration of over 170,000. This comes as no surprise because there is so much that makes Florida a great place to live. From the weather to the lifestyle, Florida is a highly desireable location. If you have entertained plans of moving state, you may want to consider Florida as a viable contender. More specifically, Southwest Florida has lots to offer and is definitely worth exploring.
When I refer to Southwest Florida, I am speaking specifically about Lee and some parts of Collier Counties. Lee County includes places like Fort Myers, Cape Coral and Lehigh Acres. Collier County is home to the city of Naples, a well-sought after location. While all of Florida is beautiful and desireable, there is something extra special about the southwest. Apart from the fact that it is much less congested than than the east coast, there is less traffic to deal with and housing is much more affordable in the southwest. Here are a few reasons why you should consider moving to these specific cities/towns in Southwest Florida. Let's start off with Fort Myers in Lee County, Florida.
Living in Fort Myers
Fort Myers was rated the #1 best place to retire to in 2020 by the U.S News and World Report. Some of the factors taken into consideration when deciding on the ranking included the happiness of the local residents, housing affordability, tax rates as well as the quality of healthcare available. Known as the City of Palms, Fort Myers is a favorite for snowbirds looking to escape the harsh winters up north.
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Living in Cape Coral
Cape Coral is renown for its access to the Gulf of Mexico and is a boat lover's dream. With miles and miles of canals, Cape Coral is a top choice for those looking for affordable waterfront properties.
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Living in Lehigh Acres
If you are looking for very affordable living and to get more bang for your buck, you should definitely consider Lehigh Acres. Lehigh Acres is a quickly developing location which offers larger lot sizes for those who prefer larger yards and lots of outdoor space. For those who prefer a quieter lifestyle that is close to nature, Lehigh Acres may be worth consideration.
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Living in Naples
Moving further south, let's talk about why Naples is a highly desireable place to live. Naples offers high-end shopping (think 5th Avenue) as well as some of the best golf courses in Florida. Located right on the Gulf of Mexico, Naples is perfect for anyone who desires to live close to beaches. Even though the cost of living in Naples is comparably high, it it perfect for luxury home buyers.
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The Southwest Florida Real Estate Market
The Southwest Florida real estate market continues to be a hot seller's market. This is characterized by increasing home values, limited inventory and quick sales. Here are some statistics from the Florida Gulf Coast MLS that will give you a clearer picture of what is currently happening in the Southwest Florida real estate market. These statistics include the last 12 months of data (December 2020 to December 2021).
| Entire Florida Gulf Coast MLS | Naples | |
|---|---|---|
| Median Sales Price | $354,995 (+21.6%) | $450,000 (+20%) |
| Closed Sales | $46,528 (+20.8%) | $15,121 (+24.8%) |
| Median Days on Market | 9 (-77.5%) | 12 (-76.9%) |
| Months' supply | 1.9 (-64.8%) | 2 (-69.2%) |
| Percent of List Price | 100% (+3%) | 99.1% (+2.7%) |
| Price per square foot | $155 (+24%) | $206 (+25.6%) |
| Median # of Shows to Pending | 10 (+11.1%) | 11 (+10%) |
| Median # of Shows per listing | 8.7 (+77.6%) | 9 (+87.5%) |
From these statistics, you can see that median sales prices have increased by 21.6% and 20% respectively for the entire Florida Gulf Coast MLS and Naples respectively. With the low levels of inventory (1.9 and 2 months worth), prices are expected to continue to rise in 2022 unless simething drastic happens. So if you are on the fence about buying, just know that prices are reasonably expected to increase similarly in 2022. Right now may be the best time to purchase an affordable home in Southwest Florida. The stats also indicate that houses are staying on the market for only 9 to 12 days before going under contract which each listing receiving 8 to 9 showings. This paints a very clear picture of the competitive nature of the southwest Florida real estate market. If you are planning to buy something, you must be prepared to put your best foot forward when it comes to making competitive offers. My past buyers who wanted to "test the market" quickly realized that it was near impossible to get their offers accepted. Only when they were willing to apply my winning strategies, were they able to make winning offers.
If you want to learn more about moving to southwest Florida, please feel free to reach out to me at 239-270-9441.