Estero is a large community on Estero Bay on Florida’s west coast. Approximately 20 miles from Fort Myers and less than 30 miles from Naples, Estero is known for its relaxed lifestyle, convenient location, and unique homes. Estero Bay offers residents calm waters for kayaking, fishing, and stand-up paddleboarding and is home to several parks, including Koreshan State Park.
Estero has been a popular community for retirees and those looking for a slower pace of life for a number of years. With a growing population and many amenities available, this community has a thriving real estate market and is known for its excellent quality of life. Homes here are large and comfortable, with many having gated entries. Estero real estate will remain strong in 2023—take a look at the forecast:
A positive trend in property values
Homes in Estero have always been in high demand due to the desired location and amenities this community has to offer. In recent years, the demand for Estero real estate has only increased as more and more people relocate and vacation in the area. The positive trend in property values is expected to continue into 2023, making it a great time to invest in Estero real estate. Homes here range in price, but the average home price is still affordable for many buyers. In addition to the appreciation in values, there’s also a strong rental market in Estero, and owners can adjust prices to meet inflation and the rising cost of living while making a good return on their investment.
Home prices increase
Many people dream of retiring in a peaceful and relaxing community like Estero. Prices can vary greatly depending on the location and type of home. The community has a variety of homes to choose from, including single-family homes, condos, and townhomes. Many of the homes here are large and comfortable, with gated entries and plenty of amenities Home prices are expected to remain consistent without significant increases or decreases. It’s likely that prices will fluctuate with demand and will have minor increases, but buyers and sellers shouldn’t expect substantial changes.
Long-term investments are ideal
With a long history and a stable population, Estero has a lot of value to offer. Buyers with long-term goals can expect better outcomes in 2023. A long-term investment is when a buyer plans to live or rent a property for an extended period of time, typically more than five years. Estero real estate is excellent for long-term investment since the value will increase and provide a profitable resale or high rental income. Buyers looking to purchase fixer-uppers or short-term investments may not see a worthwhile return with already high purchase prices.
A seller’s market remains
A seller’s market is when there are more buyers than homes for sale, which happens when the demand for homes in Estero an area is higher than the number of homes available. In Estero, the demand for real estate has been increasing while the number of homes available has remained relatively stable. This has resulted in a seller’s market that’s expected to remain in 2023. Estero is surrounded by natural and preserved land, which draws residents to this beautiful area but limits buildable land and housing options. Sellers can expect to receive high offers and possible bidding wars, while buyers can expect competition when making an offer and should prepare to pay at least the asking price with minimal contingencies.
Interest rates won’t jump
Interest rates can seem high to many buyers but are historically low and aren’t expected to increase in 2023. This is good news for buyers looking to purchase Estero real estate since a low-interest rate means they can get more for their money and will have lower monthly payments. This makes Estero an even more attractive community for buyers looking to relocate. Still, it’s always important to shop for a mortgage lender and find a company that offers competitive rates. You can also work with a financial planner to better understand the importance of interest rates and find a lender with programs to meet your needs as a buyer.
No crash in sight
Many buyers and sellers may be wondering if there will be a crash in the market with the volatile increases experienced since 2020. As the market begins to level out in some areas, a crash isn’t expected. The Estero real estate market will remain strong and stable in 2023. Like other forecasts, real estate forecasts are estimates based on many factors and aren’t always correct. Outside factors affecting real estate and even local markets can vary from neighborhood to neighborhood.
Working with a real estate agent is the best way to learn more about your local markets. Expert agents can provide up-to-the-minute changes in your area and offer guidance on real estate decisions. Challenging market conditions are also no reason to avoid the market. An experienced agent can help buyers and sellers accomplish their goals and use strategies to their advantage. It’s critical to work with an agent who can market your home for top dollar and help you secure your dream home.
Donna Marcotte is an Expert real estate agent in Bonita Springs and surrounding areas like Estero. Donna has an extensive background in hotel and corporate sales, where she sharpened her customer service skills. She’s a well-versed agent who knows the local markets and prioritizes lifestyle when helping clients buy and sell homes. See what properties are on the market and start planning your move with Donna.
*Header photo courtesy of Shutterstock
