Vacation home sales boom in Cape Coral, other parts of Lee County

LEE COUNTY

A top vacation spot is right in our backyard in southwest Florida. People choose Lee County to call their home, which makes Fort Myers and Cape Coral the number one in the country for vacation home sales. So we looked at how this sales boom is shaping Cape Coral.

There are fewer sales signs and those who want to sell don’t wait long.

A real estate agent here in Cape Coral told us that stocks are moving faster than ever, leading to fierce competition in the real estate market.

We all know what makes Southwest Florida a great place to live because we live here. People around the world appreciate what the region has to offer.

Brad Peska real estate agent told us that is why so many people move here.

“This area has something for everyone, so it’s really the lifestyle that drives people here,” said Peska.

People who want to live in the region are buying homes at record speed. Homes that were sold in weeks are gone in days. People also buy permanent houses and vacation homes.

“We’re seeing a great year for holiday sales in two categories,” said Peska. “One is because people want a second home that they can come to in Florida and enjoy, and the other is because people want investment property.”

According to the National Association of Realtors (NAR), vacation home sales rose 16.4% in 2020.

Lee County tops the list of top vacation home sales in the nation, and that’s because of the pandemic.

“People work from home,” said Gay Cororaton, the NAR director of housing and commercial research. “They enjoy working and vacationing in Florida, the retiree’s place of course, so I think that’s driving the boom and vacation homes too.”

What also happens is people with cash are pushing people in need of a mortgage out of the housing market.

Realtors say price is a driving factor in Florida.

“US $ 247,000 is the median price there. That’s sensible, ”said Cororaton. “If you’re in Massachusetts and buying a vacation home in Nantucket, you’re looking at anywhere from $ 500,000 to about $ 1 million or a million and a half, so Florida, Lee County in particular, is very affordable.”

See similar https://www.winknews.com/2021/06/23/vacation-home-sales-boom-in-cape-coral-other-parts-of-lee-county/

The post Vacation home sales boom in Cape Coral, other parts of Lee County first appeared on Daily Florida Press.

from Daily Florida Press https://dailyfloridapress.com/vacation-home-sales-boom-in-cape-coral-other-parts-of-lee-county/