Summer heat in the real estate market

It was 94 today and my pool was 92. Hard to cool off even getting wet. The real estate market in Lee County is experiencing the same heat. Sales are registering a blistering pace with 1742 pending resale homes in Lee County.

Inventory fell to 10,300 single family resale homes. That's one percent less than last month. Pending sales were almost 2% meaning there is new inventory still out pacing sales.

Of the sales, over 61% were under $100,000. With out these, sales would be 1072 less. This is the market that is on fire and where buyers are seeing values they can't pass up. Homes above this price are still facing an uphill battle with some upper price ranges facing 100 months of inventory. Current available inventory is available in real time at HOMEY.com

Still seeing this level of demand speaks well for the interest of people to be near our waters and living in the hot sunshine of SW Florida. The heat that's here even when the artic wind blows in the north. Remember to put the sunscreen on when your on the beach New Year's eve.

Michael Polly

http://www.michaelpolly.com