A Current Real Estate Market Report; Thoughts on Upcoming Months

by Phaidra McDermott, Broker/Owner, Kingfisher Real Estate

The following is a current market report and my thoughts on the upcoming months.

On the selling side: The prices here are holding firm. We had seen some mid-season adjustments to pricing for some properties which had been on the market either at inflated prices and or a long duration. We have not seen any softening of prices since the current world events began.

On the Buying Side: We are experiencing a slowing down in pending sales due to the fear of the unknown. Some buyers we are working with have decided not to purchase at this time and all have made a very similar statement. “We will buy on the Islands in the future. We are just on hold until things settle down.”

A Different Perspective on Buying / Ready Willing and Able:
Within the past week we have been contacted by several different families who are in larger density settings around the United States. They are looking to relocate here for reasons of safety and lifestyle. All have visited here in the past and have felt a sense of community and safety unlike anywhere else. This could make our market more competitive in the near future on the buying side.

Oh Crystal Ball:
Should history repeat itself we stand to have a strong Summer for sales. As a lifelong resident, I can reflect on how the market has reacted after numerous world and local events.

Buyers will be able to buy with confidence securing properties with unprecedented low mortgage rates. With the demographics of Florida growing steadily as a whole, Sanibel and Captiva will continue to stand out as one of a kind islands with an amazing sense of community and safety. At 99% build-out and 2/3 preservation land our future is as brilliant as today’s sunshine. If you are considering buying in the future, I feel now is the time to prepare and do your diligence. Myself and my dedicated Associates here at Kingfisher are ready to make your dream a reality. We look forward to seeing you here soon.

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