NewsLocal NewsLee County


CAPE CORAL | Housing market not "cooling off," but rather stabilizing, realtor says

Housing market
Posted at 4:47 PM, Sep 13, 2023
and last updated 2023-09-13 18:23:49-04

CAPE CORAL, Fla. — There have been a lot of changes in Florida's housing market, with much of it kick starting after the pandemic.

It comes back to prices rising, the number of homes on the market, and interest rates doubling. Where does our market stand now, though?

"I wouldn't use 'cooling down' around here," said Angie Cloutier, realtor with Cre8ive Realty. "Again, because everyone wants to be here."

She calls the market more reasonable as in prices, bidding and inventory. According to Zillow, there are 500 single-family homes on the market in Cape Coral.

"Houses are staying on the market much longer," Cloutier said. "People are being more picky."

She says in 2022, buyers were overbidding and paying all cash, creating a confusing situation for some realtors.

"You know, I don’t understand it," Cloutier said. "To me, when everybody’s frothing at the bit to buy something is when you really shouldn’t."

She told Fox 4 the market is stable and the numbers show consistency.

According to the MLS, a database of houses on the market, in August 2023, 2,400 homes sold in Lee and Collier counties altogether.

Last year at the same time, Cloutier says that number was 2,200.

"I think we’re going to remain steady," she said.

With a steady market, Cloutier says there's a sweet spot for buyers and sellers in terms of timing.

"Best time to put your house on the market is October, because then you got your seasoned people coming," she explained. "Best time to buy I think would be summer because you have less competition."

It's not clear what's ahead, but if the current market is any indicator, Cloutier says we could see some small hikes.

"I think prices will steadily increase easily," she said. "You know, not anything crazy. Just like a normal market."