Iona McGregor Real Estate Report – June 2017

We are Iona McGregor real estate experts.  Using a combination of experiences in development and record sales, we have a very sophisticated and innovative service that can assist you with your selling and buying needs. The Allan Group is a team of realtors with Royal Shell Real Estate, the top producing brokerage in Fort Myers for the last 5 years.

Let's first define the Fort Myers Iona McGregor submarket.  I expand it just a bit, but I'm going to start it at the Cape Coral bridge and expand it south to Old McGregor.  If you draw a line on that McGregor route, let's include everything to the west.  Not a very big area, but that's what makes it so appealing.  I have nicknamed this corridor "The Paradise Corridor" for many and obvious reasons.  Here are June 2017 statistics for all single family homes in the Iona McGregor submarket.

Available Inventory as of 7/1/2017130$667,250 (m)
Pending as of 7/1/201710$444,450 (m)
Closings in June 201722$384,905 (m)
Avail. Homes < $400k Available (Min 2+ Den)29$359,900 (m)
Avail. Homes < $400k Built Post 200528$965,950 (m)
June Apsorption Rate6.90Months
Available New Construction Homes0

One thing is clear to me.  Being very connected to the Iona McGregor real estate market, I speak to many potential homebuyers with all kinds of budgets.  While many can afford the top-tiered homes, most of those I speak to are seeking new homes under $400,000.  This is solely the reason why the Treeline corridor is so active with new construction communities.  Those new communities, however, put you nearly an hour from the beaches and even the Sanibel Causeway.  It's an entirely different market.  So why isn't there affordable new inventory in Iona McGregor?  It's because land is expensive and there aren't big enough tracts to allow developers to spread the cost around on.

Since this submarket has a large population of retirees and empty nesters, Allan Development Group has designed a single family, fee simple, paired villa concept on Davis Road called The Villas at Causeway Key where we offer homes for under $325,000 and within walking distance to the Sanibel Outlets.

Allan Development Group is focused on providing the Iona McGregor submarket with high quality homes at an affordable price.  We have identified that there are literally ZERO new construction homes with price ranges from $300,000 to $500,000.  Our newest communities provide just that.

If you are reading this post, chances are you have some interest in local real estate.  Consider this an invitation to stop by my office anytime.  Let's talk real estate.  It's what I love to do.  If you are considering investing, buying, or selling, I think you'll appreciate the direct and very specific expertise we have in Iona McGregor of Fort Myers.

Nobody knows Iona McGregor real estate like we do.  It's all we know!

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