Fort Myers Florida Real Estate
Situated along the Caloosahatchee River and the Gulf of Mexico in Southwest Florida, Fort Myers is known for its low cost of living, attractive real estate market, and countless amenities that attract investors and home buyers alike from not only across the state but from out of state as well. Discover all you need to know about Fort Myers Florida real estate.
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Population of Fort Myers
As of 2019, Fort Myers had an estimated population of approximately 87,103. Located in Lee County, of which it is the county seat, the area has seen significantly higher population growth rates than average for the state of Florida – seeing a 40.3% population growth since 2000 compared to the average 17.6% experienced in the rest of the state.
The Real Estate Market in Ft. Myers
The Fort Myers real estate market is in the national spotlight, and for a good reason. Housing costs are measuring 9.7% below the national average. Additionally, when looking for Fort Myers homes for sale, one of the first things that stands out is the median purchase price of homes being only $208,700 compared to the state of Florida’s median home purchase price of $237,100.
Home buyers seeking Fort Myers homes for sale can get a lot more for their money than most other places in the state and country. With no state income tax, retirees and those conscious about where their hard-earned income goes are flocking to the state of Florida with Fort Myers being at the top of many lists. This is due to the affordability of real estate in the area compared to more tourist focused and resort-centered cities.
The ability to purchase a comfortable three-bedroom two-bathroom home with a two-car garage, spacious yard, and high-quality finishes throughout for less than a quarter million dollars is a massively attractive factor. These factors are especially attractive for those individuals that are cognizant of what they can afford elsewhere in the country.
Housing prices are skyrocketing on the east and west coasts to the point where they are pricing buyers out of the market regardless of if they are new/first time buyers or older retirees. With that in mind, Fort Myers, Florida offers the perfect oasis to escape the oversaturated markets of New York and Los Angeles and provides the ability for you to start building equity in property in the Sunshine State.
Fort Myers also has a lot to offer in the luxury home category as well. There are numerous multi-million-dollar luxury home communities spread out over Fort Myers. Many dozens of master-planned golf communities and luxury home, waterfront communities can be found all over the Fort Myers area.
Fort Myers Offers a Wide Range of Communities
When determining which neighborhood in Fort Myers is the perfect fit, it will often come down to price range as well as desired style. With a high six-figure or low-to-mid seven-figure price range, there are countless waterfront homes along the Caloosahatchee River on sprawling lots with the classic Florida estate design. Spanish tile rooftops, circle drives, and sprawling lawns are features spread throughout the homes in this area.
If the desired style is more traditional and the price range is less than a million, the rest of Fort Myers homes for sale offer limitless potential. With the average price range being in the $200,000s (and there being plenty more houses for sale below as well as above that price point) there is something for everyone. Fort Myers even has a home for those looking for a modern style, and there are new listings hitting the market every day for buyers of all tastes.
Investing in Fort Myers Real Estate
When looking for investment properties, it is crucial to consider the rentability of the property being purchased, and its ability to produce cash flow as an investment vehicle. On top of that, another important factor to account for is annual appreciation rates so that an exit can be planned in the future as part of the investment strategy. With Fort Myers real estate showing consistent year-on-year appreciation, investors are finding themselves acquiring cash flowing investment properties consistently in the city. This consistent appreciation has allowed these buyers to continue to invest, and thus expand a robust real estate profile.
With the average days on market for real estate listings in Fort Myers, Florida being 87 days, homes listed for sale are selling quickly. With less than six months supply of inventory of homes for sale in Fort Myers (currently between three and four months), it is a seller’s market. When a market is in equilibrium, with an equal number of buyers looking to move and sellers looking to sell their homes, the average months supply of inventory is typically around the six-month mark.
When there are more buyers looking to purchase homes than there are sellers willing – and wanting to sell their homes – the months supply of inventory drops down and creates a seller’s market. This type of shift allows sellers to get more money for their homes and sell them quickly as opposed to a market that is in equilibrium.
Fort Myers Attractions and Surrounding Area
Regardless of interests and hobbies, Fort Myers offers a little something for everyone. It is sure to please even the most discerning travelers whether they are looking to enjoy their time in town for a vacation or looking to settle down somewhere warmer than where they are from. With everything from museums, amusement parks, and art galleries to boutique retail outlets and hole-in-the-wall restaurants (many of which have been owned by the same family for generations) there is more than enough adventure to be had and stories to be made. And Fort Myers Beach and the beautiful islands of Sanibel and Captiva or a very short drive from anywhere in Fort Myers.
Shopping in Fort Myers
When looking for the best places to shop in Ft. Myers, Florida, be sure to check out some of the great shopping spots such as the local River District Farmers Market that takes place every Thursday from 7am – 1pm in the Centennial Park parking lot at the intersection of Heitman and West First Street. This is the spot to be on Thursdays to grab fresh produce, some homemade pastries or baked goods, and a bag of freshly roasted coffee beans to last throughout the week.
For those looking for a little bit of everything, look no further than the Gulf Coast Town Center located along Gulf Coast Main Street in Fort Myers. An outdoor mall, this shopping district offers more than 70 stores ranging from boutique clothiers to large national big box stores. This is the ideal shopping experience when going out with the whole family or a large group of friends, as everything everyone needs is all nearby for quick and easy access on a day out shopping on the town. Keep in mind that no matter where you live in Fort Myers, you are located just minutes from Southwest Florida Regional Airport.
In conclusion, the city of Fort Myers, Florida is a bustling waterfront town along the Caloosahatchee River and the Gulf of Mexico that boasts strong economic factors such as low housing costs, entertainment and shopping options for folks of all interests. There is a large variety in real estate styles and prices and a large variety of neighborhoods. Fort Myers is a very attractive market for investors looking to put their money to work for them in the form of real estate investment properties, and a healthy seller’s market.
These factors create a perfect storm for those looking for Fort Myers homes for sale, as they can rest assured knowing that they will likely see steady appreciation over the course of their home ownership in this southwest Florida oasis.