What caused the massive spike in $psf at the beginning of 2013?

Asked by roya_13, Fort Myers, FL Wed Jul 10, 2013

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Terry McCarl…, Agent, Cape Coral, FL
Wed Jul 10, 2013
As Sally mentioned - supply and demand. Foreclosure filings have dropped significantly and inventory has decreased significantly. If you are looking to buy or sell real estate in Fort Myers please feel free to contact me and I will be more than happy to answer any questions you have.
1 vote
Kirsten Priz…, Agent, Naples, FL
Wed Jul 10, 2013
This is a strong indicator for higher demand in housing with low inventory. The real estate economists predict this is only for this year. By end of this year you will see a more graduate raise in prices such as 2-3 percent per year.
Best regards,
Kirsten S. Prizzi
FL Lic Real Estate Broker / Realtor
Immobilienfachwirt / Immobilienmakler
Telephone: 239.248.1667
Residential & Commercial Real Estate
TMB Realty, Inc.
Email: Kirsten@RealEstateFloridaUSA.com
1 vote
Marc Comisar, Agent, Bonita Springs, FL
Mon Jul 15, 2013
You mean the correction that was long overdue? Supply and demand.... http://www.fortmyersflhomesearch.com

0 votes
Sarah Garrett, Agent, Fort Myers, FL
Wed Jul 10, 2013
We have had a strong buyers market which has reduced our inventory of homes significantly. Homes that were selling for $70K last year are now $85,000.00 this year. This increase is higher than the forecasted 5-8% increase that was projected in 2012 for 2013. Again supply and demand play a big part in how prices increase. Thanks for your question.

Sarah Garrett, Realtor
"Chosen Best in Client Satisfaction 2006-2012" by Gulfshore Life Magazine
Web Access to MLS:
0 votes
Annette Law…, Agent, Palm Harbor, FL
Wed Jul 10, 2013
SP/SF is a precurser, an indicator of current conditions that project most likely events.
Be aware, real estate is a local affair. Looking at aggregate numbers will result in misguided actions.
My research has shown SP/SF trends in a community will be high the first two quarters but will moderate as 3rd and 4th quater numbers come in. When you observe the "Market In a Minute' reports on my blog (trula.com/blog/annettelawrence) you may find it benefical to read the commentary for those communites with stabliized and assending SP/SF trend lines (line G).
The accurate reponse to your question would require analysis of the sales in the area.
Be aware, one waterfront sale at $354 SF can bump the numbers in an area with fewer waterfront homes.
Analysis is requred.
Data without interpretation is meaningless.
If you are seriously thinking of buying or selling a home, call a local professional. They know the numbers, there meaning and how into covey such data onto stategy, planning and action.
If you do not know a Fort Meyers professional, I would be happy to introduce you to one.

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
0 votes
Sally Grenier, Agent, Boulder, CO
Wed Jul 10, 2013
That would be the basic concept of supply vs demand. Most markets are seeing a significant decrease in inventory. In turn, this causes an increase in demand, therefore prices go up.
0 votes
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