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Southwest Florida Real Estate Sales: March, 2010 Update

Posted by Benjamin Dona on Tuesday, April 27th, 2010 at 11:31am.

Southwest Florida Real Estate Sales Continue to ClimbThe sales of homes and condominiums in the Southwest Florida real estate markets of Bonita Springs, Cape Coral, Fort Myers and Naples continued to be impressive in the month of March. Many buyers became more "determined to buy"  as inventories continued to fall. Both snowbirds and investors alike were snapping up the many good deals available at a pretty torrid pace.

Here's a synopsis of the March, 2010 sales numbers:

Bonita Springs Real Estate Sales

Bonita Springs Real Estate Market Highlights:

  • March sales totaled 165 and were up 35% from a year ago.
  • Single family home sales were up 21% and totaled 83 sales.
  • Single family home inventory has fallen to 5.5 months worth of supply.
  • Condos sales were up 50% and totaled 82 units.
  • Condominium inventory has fallen to 5.1 months worth of supply.
  • For the month, there were 27 foreclosures sold, 116 normal sales and 22 short sales.
  • The list to sales price average for all properties sold was 90.01%.
  • The average Days On Market were 138 for single family homes and 221 for condominiums.

Naples Real Estate Sales

Naples Real Estate Market Highlights:

  • March sales totaled 850 and were up 40% from a year ago.
  • Single family home sales were up 41% and totaled 424 sales.
  • Single family home inventory has fallen to 6.5 months worth of supply.
  • Condos sales were up 46% and totaled 426 units.
  • Condominium inventory has fallen to 7.2 months worth of supply.
  • Properties sold for over $1 Million totaled 66 and were up 55% over one year ago.
  • For the month, there were 179 foreclosures sold, 553 normal sales and 118 short sales.
  • The list to sales price average for all properties sold was 88.89%.
  • The average Days On Market were 156 for single family homes and 176 for condominiums.

At the end of the month, there were 9,557 active residential properties listed in the Bonita Springs/Naples MLS. That's a decrease of 15% versus this time last year and reflects a 6.7 months' worth of supply of inventory. Pending sales were up 53% over last year and totaled 1,394. The median price of all sold properties was $195,000, up 18% from a year ago. The median price for properties sold above $300,000 was $562,000, up 8% from $520,000 in 2009.

Cape Coral Real Estate Sales

Cape Coral Real Estate Market Highlights:

  • March sales totaled 638 and were down 12% from a year ago.
  • Single family home sales were down 7% and totaled 573 sales.
  • Single family home inventory has fallen to 2.9 months worth of supply.
  • Condos sales were up 48% and totaled 65 units.
  • Condominium inventory has fallen to 6 months worth of supply.
  • For the month, there were 252 foreclosures sold, 247 normal sales and 139 short sales.
  • The list to sales price average for all properties sold was 88.89%.
  • The average Days On Market were 74 for single family homes and 118 for condominiums.

Fort Myers Real Estate Sales

Fort Myers Real Estate Market Highlights:

  • March sales totaled 644 and were up 69% from a year ago.
  • Single family home sales were up 65% and totaled 357 sales.
  • Single family home inventory has fallen to 4 months worth of supply.
  • Condos sales were up 73% and totaled 287 units.
  • Condominium inventory has fallen to 3.8 months worth of supply.
  • For the month, there were 212 foreclosures sold, 333 normal sales and 99 short sales.
  • The list to sales price average for all properties sold was 96.87%.
  • The average Days On Market were 96 for single family homes and 116 for condominiums.

At the end of the month, there were 11,147 active residential properties listed in the Cape Coral/Fort Myers MLS. That's a decrease of 27% versus this time last year and reflects a 4 months' worth of supply of inventory. Pending sales were up 11% over last year and totaled 2,819. Foreclosures and short sales continue to drag down the median price. The median price of all existing properties was $90,000, up 7.7% from a year ago. The median price for properties sold above $300,000 was $445,000, up 7% from $415,000 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. Waiting too much longer may allow the buying opportunity of a lifetime to just pass you by.

*Sales Statistics from Nabor and SWFL MLS. Data for Ft. Myers and Naples Proper Only.

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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



6 Responses to "Southwest Florida Real Estate Sales: March, 2010 Update"

Tony Orlando wrote:
Nice writing style. I look forward to reading more in the future.

Posted on Tuesday, April 27th, 2010 at 12:44pm.

Preston Guyton - Myrtle Beach wrote:
Nice post with all good news for Home buyers, sellers and of course, real estate agents...if you could provide some graphs and tables with the sales figures, it would be of great help...
Thanks & Kind Regards,
Preston Guyton

Posted on Sunday, May 2nd, 2010 at 1:24am.

Benjamin wrote:
Hey Preston,

Thanks for stopping by.

I hear you when to comes to adding the graphs. I've done so in the past and really have no excuse for not continuing the practice on these types of posts.

Note to self - get busy!

Posted on Sunday, May 2nd, 2010 at 10:08am.

Moraira wrote:
Encouraging figures from all areas. We just need a period of economic stability to build on this foundation.

Posted on Thursday, May 6th, 2010 at 2:02pm.

David - Admirals Cove wrote:
Great info for everyone. The market will eventually come around. Only time will yield the outcome.

Posted on Wednesday, May 26th, 2010 at 12:03pm.

Ana - Fort Worth wrote:
Hopefully the real estate market and economy see a steady upward trend. At times I think I'm going to be rich and next month I think Oh No. lol

Posted on Saturday, July 3rd, 2010 at 11:53am.



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