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Southwest Florida Real Estate Sales - January, 2010 Update

Posted by Benjamin Dona on Sunday, February 28th, 2010 at 11:48pm.

Southwest Florida Real Estate Sales Continue to ClimbThe new year has brought continued strength to the Southwest Florida real estate market. After a blow out year in terms of total sales for 2009, Jaunary's numbers show no signs of a let up.

Here's a synopsis of the January sales numbers:

Bonita Springs Real Estate Sales

Bonita Springs Real EstateMarket Highlights:
  • January sales totaled 99 and were up 45% from a year ago.
  • Single family home sales were up 54% and totaled 59 sales.
  • Single family home inventory has fallen to 9.9 months worth of supply.
  • Condos sales were up 42% and totaled 40 units.
  • Condominium inventory has fallen to 8.5 months worth of supply.
  • For the month, there were 23 foreclosures sold, 60 normal sales and 16 short sales.
  • The list to sales price average for all properties sold was 90.15%.
  • The average Days On Market were 145 for single family homes and 262 for condominiums.

Naples Real Estate Sales

Naples Real EstateMarket Highlights:
  • January sales totaled 532 and were up 51% from a year ago.
  • Single family home sales were up 21% and totaled 244 sales.
  • Single family home inventory has fallen to 9.8 months worth of supply.
  • Condos sales were up 91% and totaled 288 units.
  • Condominium inventory has fallen to 11.7 months worth of supply.
  • For the month, there were 118 foreclosures sold, 287 normal sales and 106 short sales.
  • The list to sales price average for all properties sold was 95.05%.
  • The average Days On Market were 180 for single family homes and 200 for condominiums.

At the end of the month, there were 9,548 active residential properties listed in the Naples MLS. That's a decrease of 16% versus this time last year and reflects a 9.3 months' worth of supply of inventory. Pending sales were up 183% over last year and totaled 1023. Foreclosures and short sales continue to drag down the median price. The median price of all sold properties was $178,000, down 31% from a year ago. The median price for properties sold above $300,000 was $525,000, down 6% from $560,000 in 2009.

Cape Coral Real Estate Sales

Cape Coral Real EstateMarket Highlights:
  • January sales totaled 460 and were up 7% from a year ago.
  • Single family home sales were down 4% and totaled 414 sales.
  • Single family home inventory has fallen to 3.3 months worth of supply.
  • Condos sales were up 59% and totaled 46 units.
  • Condominium inventory has fallen to 7.3 months worth of supply.
  • For the month, there were 195 foreclosures sold, 163 normal sales and 102 short sales.
  • The list to sales price average for all properties sold was 95.07%.
  • The average Days On Market were 78 for single family homes and 173 for condominiums.

Fort Myers Real Estate Sales

Fort Myers Real EstateMarket Highlights:
  • January sales totaled 531 and were up 105% from a year ago.
  • Single family home sales were up 47% and totaled 244 sales.
  • Single family home inventory has fallen to 4.6 months worth of supply.
  • Condos sales were up 298% and totaled 287 units.
  • Condominium inventory has fallen to 4.9 months worth of supply.
  • For the month, there were 218 foreclosures sold, 239 normal sales and 74 short sales.
  • The list to sales price average for all properties sold was 94.71%.
  • The average Days On Market were 102 for single family homes and 153 for condominiums.

At the end of the month, there were 11,741 active residential properties listed in the Fort Myers MLS. That's a decrease of 42% versus this time last year and reflects a 4.8 months' worth of supply of inventory. Pending sales were down 22.5% over last year and totaled 1,799. Foreclosures and short sales continue to drag down the median price. The median price of all existing properties was $85,000, down 4% from a year ago. The median price for properties sold above $300,000 was $410,000, down 2% from $418,500 in 2009.

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 this season, you can still be certain you may be getting the deal of a lifetime.

*Sales Data Statistics from Nabor and SWFL 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



3 Responses to "Southwest Florida Real Estate Sales - January, 2010 Update"

Tony Orlando wrote:
Thanks for posting the article, was certainly a great read!

Posted on Monday, March 1st, 2010 at 12:44am.

DJ Morris wrote:
My brother and sister in law used to live in Cape Coral, it was like a model home paradise there with all the builders having model homes and sales centers. What has happened to all the Model Home Sales Centers there....there used to be hundreds of them?

Posted on Friday, March 5th, 2010 at 9:29am.

Benjamin wrote:
Wow, that brings back some memories DJ. I lived in The Cape in 97-98 and yeah there were a bunch of them.

Most either went belly up after the bust or they just walked away when the buying stopped.

Many of the model homes on CC Parkway have even been turned into other businesses.

What few are left have moved up to the north end of town for the most part. The Cape still has plenty of vacant land on which to build in that area and sooner or later things will start moving again for the builders.

Posted on Friday, March 5th, 2010 at 5:28pm.



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