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Bonita Springs and Naples Real Estate Sales - November, 2009 Update

Posted by Benjamin Dona on Monday, December 21st, 2009 at 6:53pm.

The real estate market in Southwest Florida continued to be strong in November. In fact, for the first eleven months of the year, the Bonita Springs and Naples market areas have seen total sales rise over 17% and 48% respectively on a year over year basis.

Bonita Springs Real Estate Sales

Bonita Springs November Highlights:
  • Single family home sales were up 189% and totaled 53 sales.
  • Single family home inventory has fallen to 4.6 months worth of supply.
  • Condos sales were up 182% and totaled 42 units.
  • Condominium inventory has fallen to 5.7 months worth of supply.
  • Pending sales were up 218% over last year and total 56.

Bonita Springs Closed & Pending Sales - 2008-9

  • Foreclosures and short sales continue to drag down the median price. The median price of all sold properties was $241,000, down 8% from a year ago. The median price for properties sold above $300,000 was $464,000, down 7% from $500,000 in 2008.
  • For the month, there were 90 foreclosures sold, 47 normal sales and 18 short sales.

Bonita Springs Median Sales Prices - 2008-9

  • At the end of the month, there were 1,807 active residential properties listed in the Bonita Springs MLS. That's a decrease of 11% versus this time last year and reflects a 5.1 months' worth of supply of inventory.
  • All residential sales total 1,109 for the year and are 37% below 2005 number of 1,801, the biggest sales year on record. However, they were 17% above the 925 sales of a year ago.
  • The list to sales price average for all properties sold was 96.79%.
  • The average Days On Market were 175 for single family homes and 149 for condominiums.

Naples Real Estate Sales

Naples November Highlights:
  • Single family home sales were up 31% and totaled 263 sales.
  • Single family home inventory has fallen to 9.8 months worth of supply.
  • Condos sales were up 136% and totaled 248 units.
  • Condominium inventory has fallen to 11.7 months worth of supply.
  • Pending sales were up 118% over last year and total 880.

Naples Closed & Pending Sales - 2008-9

  • Foreclosures and short sales continue to drag down the median price. The median price of all sold properties was $173,000, down 11% from a year ago. The median price for properties sold above $300,000 was $525,000, down 7% from $565,000 in 2008.
  • For the month, there were 118 foreclosures sold, 287 normal sales and 106 short sales.

Naples Median Sales Prices - 2008-9

  • At the end of the month, there were 9,469 active residential properties listed in the Naples MLS. That's a decrease of 14% versus this time last year and reflects a 10.7 months' worth of supply of inventory.
  • All residential sales total 6,827 for the year and are 18% below 2005 number of 8,289, the biggest sales year on record. However, they were 48% above the 4,628 sales of a year ago.
  • The list to sales price average for all properties sold was 95.05%.
  • The average Days On Market were 157 for single family homes and 183 for condominiums.

So, if you're thinking about purchasing a Southwest Florida property for yourself and your family, now is the time to do it. By buying now, you just might be be certain you're getting the deal of a lifetime.

*Sales Data Statistics from Nabor MLS

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About the Author

Gulf Coast Associates, RealtorsBenjamin Dona is the Broker and Owner of Gulf Coast Associates, Realtors in Bonita Springs, Florida. He holds two advanced degrees, an MBA and an MA, and has an extensive background in both business and marketing. In 1998, he founded Gulf Coast Associates, and formed a group of like-minded Realtor® associates dedicated to offering professional Southwest Florida real estate services by concentrating on information, education and the use of leading edge technologies. He also is a recognized expert on the "Net," a much-quoted and read blog author, and a contributor to both national and international news outlets. Benjamin is a member of the National Association of Realtors, the Florida Association of Realtors, and numerous local real estate boards throughout Southwest Florida.

Contact Benjamin Dona at 239-948-3955



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