There is a surplus of homes for sale up and down Southwest Florida's coastline, but is it due to the slowing housing market or that people are scared after previous hurricanes have caused major damage to homes and skyrocketing insurance premiums?
Property that was once very desirable seems to have slowed when it comes to buyers.
Joseph Oster, licensed real estate broker, president and CEO of Gulf Coast Realty and Property Management, says that a lot of the people who are selling have been there for years, sometimes even passed down through family generations.
"There's quite a bit for sale. If you look at Naples Park area of Vanderbilt Beach area, there's quite a few properties on the water that are for sale," Oster said.
He says it is much of the same for Fort Myers Beach. If you drive down Estero Boulevard, you will pass by dozens of homes for sale that are considered waterfront properties.
"I think we are in a period of time where people are being a little apprehensive about being on the water," Oster said.
Oster says that homes are up on the market now from an average of 90 to 120 days — which is much higher than where it was just a few years ago.
"Part of that is because of the slow movement, and I think a lot of people have wanted to get away from the water after Ian."
Fluctuations in the housing market are normal. However, it took major hits back-to-back from Irma, COVID-19, and Ian.
"People just aren't confident. I don't feel confidence out there for people," Oster said.
There are still people who are staying put through thick and thin.
Christine Gallas and her husband bought their home in Fort Myers Beach right before Hurricane Ian.
"I feel like anywhere you live, there's going to be something like if you're in Ohio, there's always tornadoes. In California, there was always earthquakes and wildfires. You know, it's just kind of like I think it happens pretty much everywhere. There's a risk of some sort," Gallas said.
After the Gallas purchased their home in April 2022, they started doing renovations, but unfortunately, they were never able to see it finished.
"Our home was the poster child for Hurricane Ian."
During Hurricane Ian, they watched the hurricane impact their home through their security camera.
The last thing they saw was the water running down the street before their power went out, until a friend reached out after the hurricane passed.
"She sent me a screenshot of it, and she's like, 'I think this is your house.' And I'm looking, and I'm like, I cannot-- that can't be it. It was so unrecognizable," Gallas said
Two long years later, with permits approved, there is finally progress being made.
"We'll see when we finally move back into Fort Myers Beach," Gallas said.
There are others who are not choosing to rebuild.
"Our neighbors on both sides of us are both selling. So I think it's about 50/50. I think some people are just frustrated and may not have been able to afford to rebuild," Gallas said. "I think a lot of these people have had these little beach cottages that have been in the family forever and they've been paid off forever. I think they just kind of think it'll never happen to me, and then when it does-- You're basically just left with the lot."
Although Gallas has put so much effort into a home to start almost from scratch again, she feels lucky.
"No, we're not giving up. And, you know, it's easier to have a positive outlook because we didn't lose anybody. We didn't lose anything, you know, other than the home. And it was a lot of money. But, you know, we will recover, and we're going to fight. And we'd like to see Fort Myers Beach back the way it used to be," Gallas said.