That is the assessment based on empirical evidence offered in a recent analysis of the real estate market across Collier, Lee and Charlotte counties.
In fact, some principals in the industry admit to frank surprise that real estate activity – both in the commercial and residential realms – has been so fast-paced and vigorous over recent months.
And it is in the latter sphere that a spiked volume of transactions and closings has been most impressive. One local commentator underscores that, “The residential market in particular has been stronger than many of us anticipated.”
That begs this obvious question: Just how potent has the market been?
Industry indicators that the publication Florida Weekly states have flatly “defied expectations” convey an eminently clear picture. Here are two relevant points to consider:
- Notably high level of transactional activity during the customarily post-peak months of June and July
- Close to 9,000 building permits issued during the first half of 2020 (17,600 new permits issued in Collier, Lee and Charlotte counties all of last year)
In arguably ironic fashion, it is simultaneously both a buyers’ and sellers’ market presently and potentially going forward. Mortgage rates are beckoning buyers with historically low levels, and many sellers are commanding – and getting – top prices for their homes.
“More properties are being purchased sight unseen,” says one industry insider.
Prospective buyers and sellers can reasonably turn for transactional help across a broad spectrum (e.g., due diligence, contract drafting/review, listing, closings and more) to a proven and deep team of experienced Naples real estate attorneys.
That assistance can be equally valuable in transactions involving a primary residence, vacation home or investment property.