Foreclosure filings continue to impact the Southwest Florida real estate market in January and February in both Lee and Collier counties. For Lee County, there were 1,395 new filings in February, up from the 1,318 in January. In Collier County, there were 565 new filings in February, up from 457 in January.

While both counties’ filing numbers were down on a year over year basis, foreclosure sales are still having a major impact on the overall market. In Lee County, 42% of January’s solds were a foreclosure; in Collier County, foreclosures accounted for 23% of the month’s closed sales.

The numbers are quite a change from the last year as far as filings are concerned and while two month’s data does not make a trend, it is hopefully a good sign of things to come. Naturally, no one can predict for certain what will happen as we move forward from here. Many forecasters still predict it will be doom and gloom. However, with a little luck, things will slowly continue to improve. As with all things in this current real estate market, only time will tell the tale.

Southwest Florida Foreclosures

Tags: foreclosures, markets, sales