Gateway Real Estate News – Gateway 2017 sees the 2nd Highest Number of Real Estate
Sales & Increase in Sales Price.
The local Gateway real estate market saw the 2nd highest number of Real Estate sales in the last 10 years; along with an increase in the average sales price.
The total number of residential real estate sales in Gateway for 2017 was 366 residential units sold, a slight increase over the 363 residential units sold in 2016. But overall 2017’s total residential sales of 366 unit is above the annual average of 340 homes sold since 2008. In fact, the last three years have been the top 3 years of total residential units sold since 2008.
All that in spite of Hurricane Irma, which made landfall on September 10th, causing extensive damage locally and forcing many residents to be without power for several days. Moreover, sales totals for the month of September were actually above the 10 year average with 32 sales taking place. The months of October and November were also above the 10 year average for sales totals (27 sales for October and 26 sales for November) and the month of December finished right at the 10 year average. Quite a testament to the way the community weathered the storm and also to how quick recovery efforts were in the area.
Continuing the upward trend; the average sales price for a Single-family residence in Gateway for 2017 was $315,974.00, which was about a 4.2% increase in sales price versus the 2016 average Single-family home sales price of $303,272.00. However, with that increase in sales price Single-family homes within Gateway did see about a 10% median increase in cumulative days on the market. So the average real estate sales cycle, from listing the home to sale, in Gateway went from just over 3 months to almost 4 months.
Multi-Family Residences (example – Condos, Townhomes, Carriage Homes, etc.) saw an increase in average sales price with the 2017 average sales price being $168,989.00 and the average sales price being $156,273.00. That amounted to an almost 8% increase average sales price for a multi-family home.
The new construction communities of Hampton Park, Timberwood Preserve and Hammock Cove are bringing more inventory to the area and plays a part in increasing those sales numbers. But, overall those 366 residential sales is a dramatic improvement from the 205 sales that occurred just 10 years during the recession in 2008 and equates to an almost 79% increase in annual sales.
The Maciaszek Real Estate Team, one of the top producers within Gateway, has seen an improving trend in their own business with both total number of homes sold and annual average sales price rising for The Maciaszek Real Estate Team in 2017 calendar year.
The continuation of new construction, expanding commercial developments and increased hiring of local businesses within the Gateway area make this a very attractive location for new residents.
All this information is great news for local Gateway residents looking to explore the possibility of selling their home and assuring buyers looking to purchase within Gateway that they are making a good financial investment.
For more information contact the Gateway Real Estate Expert at:
The Maciaszek Real Estate Team
Keller Williams Realty Fort Myers & the Islands
Data source: Florida Gulf Coast MLS ‐ Data available as of January 22nd, 2018