Fort Myers and Cape Coral Real Estate Sales - November, 2009 Update
Posted by Benjamin Dona on Friday, December 18th, 2009 at 3:39pm.
T he real estate market in Southwest Florida continued to boom in November. In fact, for the first eleven months of the year, the Cape Coral and Ft. Myers market areas have seen total sales soar over 70% on a year over year basis.
Cape Coral and Ft. Myers Real Estate Sales
Cape Coral and Ft.Myers November Highlights:
- Single family home sales were up 71% and totaled 1,245 sales.
- Single family home inventory has fallen to just 1.9 months worth of supply.
- Condos sales were up 237% and totaled 235 units.
- Condominium inventory has fallen to just 3.6 months worth of supply.
- Foreclosures and short sales continue to drag down the median price. The median price of all existing properties was $89,900, down 15% from a year ago but up 5% from October's median price of $85,600.
- For the month, there were 577 foreclosures sold, 410 normal sales and 231 short sales.
- At the end of the month, there were 11,486 active residential properties listed in the Ft. Myers MLS. That's a decrease of 47% versus this time last year and reflects a 2.3 months' worth of supply of inventory.
- All residential sales total 18,180 for the year and are 34% above 2005 number of 13,517, the biggest sales year on record.
- Pending sales were up 57.5% over last year and total 3,741.
- The list to sales price average for all properties sold was 95.11%.
- The average Days On Market were 107 for single family homes and 138 for condominiums.
So, if you're thinking about purchasing a little piece of paradise for yourself and your family, now is the time to do it. By buying a property now, you can be certain you're getting the deal of a lifetime.
*Sales Data Statistics from SWFL MLS
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About the Author
Benjamin 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
Southwest Florida Real Estate Blog