Southwest Florida real estate shifts to a buyer’s market

Southwest Florida’s real estate market has shifted to a buyer’s market as home prices and sales decline. In Fort Myers, the median home price dropped nearly 7% compared to last year, and homes are taking longer to sell. Factors such as higher interest rates, insurance costs, stricter regulations, and the ongoing recovery from Hurricane Ian have contributed to the slowdown. Buyers now have more negotiating power, while sellers are responding with price reductions and home improvements. Experts view this as a market correction rather than a crash, offering opportunities for both buyers and sellers. For more information click here.