Forecasts predicts that Southwest Florida’s single-family home prices will continue to grow over the next three years.
Single family house prices in Lee County are set to rise by 24% over the next three years according to Local Market Monitor. The Cary, N.C. – based firm ranked Lee County as one of the top metropolitan areas statewide in terms of house price appreciation.
Company president Ingo Winzer is quoted as saying that between the second quarter of 2014 and the end of the second quarter 2017, there is no likelihood of a fall in prices and that he considered single family houses in Cape Coral undervalued.
Cape Coral in Fort Myers is set to see house prices grow by 24% over this same period of time having already seen a year-over-year increase of 13% in the second quarter of 2014.
An increase in demand for housing in the area and a lack of fully developed home sites and properties are causing the region’s increase in house prices, Winzer explained. In addition to this people are beginning to invest in real estate more and more as the returns on stocks, bonds and other investments become increasingly unpredictable.