State of the Market- Mini Update

State of the Market-Mini Update

Here is a look at Inventory levels from random past dates and today. Active represents Active listings by date, and Pending represents properties that were under contract for sale at the time. CMI represents our Current Market Index, which accurately predicts where the market is heading. See Below for Commentary.

Fort Myers Geo Areas
	ACTIVE	PENDING	CMI
6/20/2003	819	378	2.17
8/7/2003	768	337	2.28
10/15/2003	825	303	2.72
12/14/2004	494	295	1.67
4/1/2005	435	428	1.02
7/25/2005	398	350	1.14
9/29/2005	490	267	1.84
10/25/2005	626	200	3.13
1/24/2006	1338	210	6.37
dddd
Cape Coral Geo Areas
	ACTIVE	PENDING	CMI
6/20/2003	1575	805	1.95
8/7/2003	1463	733	2
10/15/2003	1593	651	2.45
12/14/2004	886	581	1.52
4/1/2005	1006	894	1.13
7/25/2005	1020	971	1.05
9/29/2005	1653	751	2.2
10/25/2005	2141	605	3.64
1/24/2006	3926	537	7.31

As you can see, inventory is rising quickly, and the market has swung from a Hot sellers market to a buyers market. The CMI index in October predicted the market would slow, and as you can see, Active listings have swelled while Pending sales have dropped.

We are seeing about a 5 to 1 ratio of new listings entering the market each day to number of homes that go pending, which has lead to a dramatic increase in inventory. How much will this build-up affect prices? Stay tuned and we'll post more Mini-updates on what is happening in SW Florida Real Estate.

Note, we selected certain geographic areas inside our MLS system for same sales comparisons. The Fort Myers and Cape Coral Geo areas do not encompass the Entire Lee County market, there are actually many more listings than what is shown here. We do feel, however, this is an accuratae representation of what is happening all over SW FLorida, regardless of which Geo area homes are located in.

To search for homes for sale, feel free to shop at www.LeeCountyonline.com