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Florida Real Estate Sales Strong Again in September

Posted by Benjamin Dona on Saturday, November 14th, 2009 at 6:48pm.

Florida Real Estate Sales - September, 2009After 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.
  • Foreclosures and short sales continue to drag down the median price. The median price of single-family homes was $85,500, up 4% over August but still down 32% from last year. Condos faired a little better as their median price was down only 18% to $122,650.
  • At the end of the September, there were 11,334 active residential properties listed in the Ft. Myers MLS. That's a decrease of over 52% versus this time last year and reflects just 5 months worth of supply of inventory.

Bonita Springs and Naples Real Estate

Bonita Springs and Naples Highlights:
  • Single-family home sales were up 25% and totaled 296 sales.
  • Condos sales were up 38% and totaled 248 units.
  • Foreclosures and short sales continue to drag down the median price. The median price of single-family homes was $195,000, down 31% from last year. Condos faired a little better as their median price was down only 23% at $179,000.
  • At the end of the August, there were 9,209 active residential properties listed in the Naples-Bonita Springs MLS. That's a decrease of 16% versus this time last year and reflects over a 10 months worth of supply of inventory.

With the latest news of the extention and expansion of the Home Buyer Tax Credit, sales are likely to remain brisk. So, if you're thinking about getting a little piece of paradise for yourself and your family, now is the time to do it. Just come on down and join in on all the fun. You can be certain that buying now may just get you the deal of a lifetime.

*Sales Data Statistics from SWFL and 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



7 Responses to "Florida Real Estate Sales Strong Again in September"

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Posted on Saturday, November 14th, 2009 at 9:34pm.

Chris - Edmonton wrote:
Florida has been one of the hardest hit areas in the States. It also likely has the greatest room for heavy market growth. With the aging boomers just beginning to come into the retirement villa market, the great state of Florida is likely to bear witness to a population boom. If buying for the long term, a decade of investment into a place to call home stands to bear some sizeable returns.

Posted on Monday, November 16th, 2009 at 12:42am.

Sarah Spillman wrote:
Very informative, I couldn't agree more!

Posted on Monday, November 16th, 2009 at 6:55pm.

Cary, NC wrote:
I think Chris has a pretty good point; those markets that fell the furthest aren't likely to get much worse. I could easily see this next generation of retirees taking on Florida.

By the way, what's your take on short sales right now? I was reading a blog about an agent who recently short sold a house with two loans on it. Are you finding that loan institutions in Florida are being a bit more flexible these days when it comes to homes with more than one loan?

Posted on Tuesday, November 17th, 2009 at 12:01am.

Benjamin wrote:
Yes, they have loosened up on short sales all the way around recently.

Back in January, less than 1% were going to closing. For the last couple of months, we have seen over 40% (with offers) actually getting to the closing table.

It has really helped us cut through a lot of inventory. And, buyers have gotten some really nice deals in the process.

Posted on Tuesday, November 17th, 2009 at 12:42am.

margaret wrote:
Florida is the best place for potential growth in the market. So, I am sure that real estate sales will always remain strong here.
Thanks for updating. Nice information.

Posted on Wednesday, December 2nd, 2009 at 10:39am.

Rene - Hayward, CA wrote:
This is always good news to hear. In my area we are seeing a growth in numbers and a bit of an overall resurgence, but not to this extent. Hopefully this is a sign of good things to come.

Posted on Monday, December 14th, 2009 at 3:40am.



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