INVESTOR RESOURCES
FLORIDA
Why is the Southwest Florida Real Estate Market So Hot?
by David Kastan, Whitestone Developments
ENORMOUS DEMAND & DESIRABILITY Whether it’s golfing, boating, fishing, kayaking, or the many other activities to enjoy in the beauti- ful outdoors of Southwest Florida, we are home to those seeking an enhanced quality of everyday life. This past year has only accelerated that trend as Florida, to many, has been deemed the closest resem- blance to “normal” during very uncertain times. As a result, the desirability for people to be here is higher than ever before, consistently strong, and not going away anytime soon. It’s estimated that 850 people
he real estate market nationwide is seeing unprecedented surges.
will move to Florida per day over the next 5 years. While the mar- kets feeding this growth continue to be Midwest and Northeast cities, Southwest Florida is now seeing residential and business reloca- tions from California, Texas and the Pacific Northwest. The accessibility to Southwest Florida via new non- stop routes from San Francisco, San Diego and Seattle to the Southwest Florida International Airport (RSW) is helping drive this surge. THE COVID EFFECT Due to the global pandemic and massive shutdowns people have
T
One of the hottest markets in the US is Southwest Florida. As of November 2021, Southwest Florida is showing 0.3 months of inventory in Collier, Lee and Charlotte counties, which is down 80% of where we should be for a bal- anced market. This is mostly a result of strong buyer demand, high compe- tition from deep-pocketed institutional investors, builders’ inability to provide new inventory, and a dash of seller reluctance as replacement properties are not as easy to find, thus limiting new resale inventory.
56 | think realty magazine :: january – february 2022
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