Let’s talk about the Fort Myers real estate market. Keep in mind, going back six months, the median sale price of a single family home on Sanibel was $1,412,500 and a condominium was $1,080,000. Combine this with many of our prospects who are working with a budget of $300,000 to $600,000. Consequentially, 20-25% of our business takes place in the Fort Myers area. For example, you can own a 2 bedroom, 2 bath condo in the South Fort Myers area in the $325,000 to $450,000 range in a gated community with amenities. Monthly maintenance fees run about $500 a month.
Single family homes are available in the $600,000 to $700,000 range compared to a similar size home on Sanibel. We are also seeing some Sanibel owners looking to move off the island to be closer to medical services and, in some cases, use the extra equity in their Sanibel homes for personal use. As a bonus, the Lee County Tax Assessor allows a homesteaded resident to transfer a portion of their reduced tax assessment to their newly purchased property. If you are considering a purchase in the Fort Myers area, keep me in mind. I am very familiar with the market there. Last week, I showed 5 condos that were well maintained and moderately priced.
Thinking of selling? Call me for a confidential discussion addressing your thoughts and goals. We are currently offering a substantial savings to Sellers whose properties go under contract within 45 days.
Thank you for reading my column. I hope it provides you with additional market information.