Hot Florida Real Estate Result Possibly Inflated

Friday, February 03 2006 @ 03:13 pm UTC

Contributed by: jron

As all signs saying Southwest Florida real estate market is hot, there is still at least one realtor who says it's not as hot as it looks like.

Obvious reasons to say that a handful of list of homes can be found for sale in Lee County, There are reports saying that the rate of homes sold keeps on climbing uphill.

RE/MAX Realtor Brett Ellis says "The state of Florida numbers started to flatten out and even go down in the fourth quarter of last year and miraculously Fort Myers and Cape Coral had some outstanding numbers for fourth quarter," He adds that those numbers weren't as surprising as they are.

Ellis said that both Fort Myers Board of Realtors and Cape Coral Board, reports their numbers to the Florida Association of Realtors, saying that there's a possibility that the sales could be reported twice because all their numbers go to the state board of Realtors which he believes combines the sales figures of both.

Don Heisler of Cape Coral Association of Realtors said "It's very likely that in the last couple of years when we've been on two separate systems that situation has existed," Meaning the median home price would not be as high as the board states.

Ellis also said that "I don't think it's anything but sheer oversight, just a mistake," He said that mistakes like those should be corrected for obvious reasons.

Just last year, the Fort Myers-Cape Coral market was ranked among the top ten for home sales nationally, Cape Coral Association president said that even if the results were duplicated their market is still in an excellent rate.