Hoolihan speaks on state of the real estate market
Local real estate professional Thomas P. Hoolihan Jr. was the guest speaker at the recent monthly North Fort Myers Chamber of Commerce Business Leaders Luncheon, giving his insight on the recent new area real estate boom.
Sales have been dramatically high in the area in the first quarter, he said. “Basically, the last three or four months, the buying and the deals were extraordinary and the level of buying right now is incredible,” he said. “Statistically speaking, the sales in the first quarter were incredibly higher.”
He shared a variety of statistics with luncheon attendees.
In 2008, there were a total of 13,989 total sales in Lee County. (That includes 11,568 residential, 2188 lots, 42 commercial and 191 residential income properties). In 20009 – as of April 14, there have already been 5,107 sales. (4,525 residential, 402 lots, 12 commercial and 168 residential income properties.)
He also went over area specifics. In North Fort Myers, there have been 200 closed sales since Jan. 1, 2009, as compared to 514 total closed sales in all of 2008.
He also went over foreclosures and short sales listed specifically in North Fort Myers. There are currently 74 foreclosures listed and 130 short sales in the area.
He also noted the nearby Cape Coral market, listing 498 foreclosures listed and 1,755 short sales. He gave sales activity figures for the Cape, with 7,012 MLS active properties, and 1,361 properties pending in Cape Coral.
Hoolihan is the owner of Thomas Hoolihan Real Estate and Lifestyle Centers located in the Shell Factory, next to the chamber of commerce.
The luncheon was held at Beef O’Brady’s restaurant in the Publix complex at the corner of Orange Grove Boulevard and Hancock Bridge Parkway.
The luncheons are held on the third Wednesday of the month as a combination meeting/informational session. Civic and business leaders address timely issues. The next luncheon will be held Wednesday, May 20 at Ichiban Restaurant, 14651 N Cleveland Ave., Fort Myers, from 11:30 a.m. to 1 p.m.
The guest speaker for that meeting will be an official from the Red Cross, on the subject of disaster preparedness for your business. The cost is $15 for members and $20 for non-members.
For information and reservations, call the chamber at 997-9111.