Buyer Market Today, Seller Market Tommorrow - The coming shift in Southwest Florida Real Estate

Another great month in overall sales volume in Southwest Florida. With 1342 properties sold in Lee County Florida, this was the 3rd highest volume month in the past 15 concurrent months. The most exciting part for those that bought is that inventory is shrinking. The current active inventory is the lowest it has been in that same 15 month comparison and with the sales of homes exceeding 1300 units each month the outlook for supply is at a 15 month low with an active supply of only 2 months.

The basis of these facts are interesting but the reality is when you are actively looking for properties. With a shrinking inventory the necessity to be flexible with your needs and wants is critical however even more important is the ability to take action. The buying cycle is shorter and the days on market for the average property is only 77 days. This is the total days it sits before it goes from an active listing to sold. This includes cash and financed transactions but that buying cycle is consistently at the lowest it has been in 2 years.

Everyone says the time to buy is now. I believe that buyers determine their own time in which they are prepared to purchase a home or condominium as it is a significant decision in your life. With this being stated, I do believe that the window of opportunity to get the steals and deals is closing very rapidly. As medium home prices continue to climb month over month (REO sale prices are up 14%) and inventory supply diminishing I predict that we are about 18 months away from another real estate shift.

As an investor myself I am finding the "deals" to be more scarce every single week. As a Realtor, I am finding it harder to meet my clients "Dream Home Checklist" demands. As a Sales Director I am finding it tougher for my office to obtain listings that meet our criteria for sale. As I scratch my head and plan the next quarter for my business I know that providing the right timely information to my clients will be critical to my success.