Miromar Lakes is a spectacular, master-planned community. The club’s three miles of gorgeous sandy beaches encompass Lake Como's tranquil, fresh waters. Boating, paddle boarding, and fishing are only some of the recreational water sports available.

Miromar Lakes is an idyllic community that makes people feel like they are on vacation every day. An amazing 10,000-square-foot infinity pool overlooks the lake. Residents lounge by the pool as they sip cocktails and enjoy the resort-style amenities.

A fitness center, wellness spa, and tennis facility are a few more goodies for members. There is also an 18-hole championship golf course with stunning views of the lake and the surrounding lush greenery.

Would you like to find out more? The Guillette Group, highly skilled real estate professionals, has assembled this year’s market prices, trends, and forecasts for the Miromar Lakes’ real estate market. Check out the details below.

MIROMAR LAKES 2023 HOUSING FORECAST:

Miromar Lakes housing values are increasing. Homes in Miromar Lakes are increasing in value. Single-family houses went from a median price of $756,900 last year to $1,850,000 this year. The median price for condominiums and townhomes in Miromar Lakes was $792,500 last April, compared to $1,024,000 in 2023.

Rates take a dip. Interest rates had a slight decline during the last week of April 2023. Nationally, for a 30-year fixed mortgage, the average percentage rate or APR was 6.85%. The rates have been on an up-and-down cycle hovering between 6% to 7% so far this year.

Investors will continue to do well. Miromar Lakes has single-family homes, condominiums, townhomes, and apartments. There are 2,884 housing units in the community. Of those, 86.58% are owner-occupied, and 13.42% have renters. The number of renter-occupied units was down by 2.5% from last year. Despite that, many people will rent due to market forces, so investing in the area remains viable.

There are fewer residents this year. Miromar Lakes has approximately 7,545 people, a 19.7% difference from the previous year.

LEE COUNTY HOUSING MARKET TRENDS 2023:

Lee County, Florida, is in a seller’s market. The median home price was $380,004 in April of 2023. That is up 13.4% from April of 2022.

On average, houses sold in 16 days last April. This year, it took 40 days for a place to sell, a rise of 142.3%. This is good news for buyers. They will have more opportunities to bid on a home, and sellers may be more willing to negotiate.

What were the impacts of Covid-19 on the Miromar Lakes real estate market? Covid-19 positively impacted sellers in Miromar Lakes and Florida as a whole. So many people decided to relocate, resulting in a boon in the real estate market. Houses sold quickly and at high prices. Homes are not selling as quickly today, but the prices have remained high.

MIROMAR LAKES MEDIAN HOME PRICES

In April of 2023, the median price of a home in Miromar Lakes was $1,059,000. That is an increase from last year at the same time when the price was $774,700. Miromar Lakes has more people wanting to buy a home than the current inventory can accommodate. This makes it a seller’s market.

TIPS FOR BUYING AND SELLING IN ANY MARKET

Some strategies work regardless of whether it is a buyer’s or seller’s market. The following suggestions are meant to get people off to a good start in any market.

First things

Check your credit score. If it is low, try to repair it before starting the process of searching for a home. Have a down payment ready. Unless your loan is through the VA or USDA programs, you must have a down payment. Get your debt-to-income (DTI) ratio under control. Add your monthly bills and divide the total by your gross income. Most lenders require a DTI to be under 43%. Search online for a DTI calculator to determine your ratio.

Contact a real estate agent

Interview several agents based on where you plan to purchase or sell a property. The agent should be highly rated but not too busy to be able to give you the attention you deserve. Be sure to ask agents if they have expertise in flipping houses or renovation. Agents with this knowledge can see potential problems and advise how a house can be modified to fit your needs.

Manage expectations

Whether the market favors the buyer or the seller, prices are always too high for one and too low for the other. Eventually, the market will sort it out. Currently, Miromar Lakes’ prices are higher than buyers expect. This is evident by homes staying on the market longer. Sellers will be hesitant to lower prices. However, the longer a house is on the market, the more a seller will be willing to negotiate. An excellent real estate agent can guide you through the process.

ONE REAL ESTATE GROUP IS HERE FOR YOU

The real estate market and an ever-changing interest rate can be a bit confusing. While people can buy and sell homes independently, it may not be the wisest choice. The Guillette Group has years of real estate experience. They know when there are Miromar Lakes homes for sale and where to find luxury property in places like Estero and Wildblue.

GET READY TO ENTER THE MIROMAR LAKES REAL ESTATE MARKET

If you want to learn more about the housing options in Miromar Lakes, The Guillette Group can help. If you need to sell property in one of the other neighborhoods in Southwest Florida, they can help with that, too. Instead of attempting to go it alone, contact The Guillette Group.