After a unbelievable first eight months of the year, real estate sales in Southwest Florida were again strong in September. In fact, home sales for the year are up 120% in the Cape Coral-Ft. Myers and up 30% for Bonita Springs-Naples. September marked the fifteenth month in a row sales have climbed in both Lee and Collier counties. The Cape Coral and Ft. Myers market area saw total sales rise over 57% on a year over year basis and the Bonita Springs and Naples market area was far behind, up 31%.

Cape Coral and Ft. Myers Real Estate

Cape Coral and Ft.Myers Highlights:

• Single-family home sales were up 64% and totaled 1,185 sales.
• Condos sales were up 57% and totaled 230 units.

Tags: real estate, sales, SW Florida

It looks like the last real estate market segment in Florida that has held out for higher prices has finally burst its bubble too. Luxury Florida real estate sellers appear to have finally come to the realization that they too are going to have to give in on price in order to sell their properties.

While many folks may have thought such a move was a given under today’s housing market climate, the reality was another thing altogether. The reason for such an attitude was multi-faceted. Let’s just suffice it to say that most luxury real estate in Florida is located on some of the most prized property available. You don’t give away oceanfront estates, island getaways or high rise condominiums with views to die for just because the rest of the market hits hard times. In addition, folks who are wealthy enough to afford such properties in the first place are also wealthy enough to carry them as they weather the market downturn.

Tags: Florida, living, markets, real estate

The National Association of Realtors (NAR) released its annual consumer survey for home buyers and home sellers today. The results were generated from 10,053 usable responses NAR received from a national sample of 133,000 home buyers and sellers who purchased their homes between July 2007 and June 2008. (BenjaminDona.gooruze.com)

Here are what we consider to be some important highlights from the results:

Home Buyers

• The number of first-time buyers continues to rise. They made 41% of the transactions, up from 39% in 2007 and 36% in 2006. Their median age was 30 and their median income was $60,600. The typical first-time buyer purchased a home costing $165,000 and plans to stay in that home for 10 years. Their median home down payment was 4% and 92% chose to use a fixed rate mortgage home loan to finance their purchase.

Tags: real estate