SW Florida Home Sales Rise Again in May
Posted by Benjamin Dona on Thursday, June 19th, 2008 at 7:22pm.
Southwest Florida home buyers are back! In May, home sales rose again in the Bonita Springs, Estero and Naples markets. The move marks five straight months of gains and has continued into the month of June, too.
While many folks were predicting a slow down as season wound down, it just did not materialize. If anything, things are getting stronger as buyers recognize that their opportunity to grab an affordable slice of the Florida lifestyle is now. Overall sales in Naples grew 6% in May and pending sales rose 37%. The rise in sales was led by an 18% jump in single family homes with pending sales for this category up a whopping 87%. Sales in the Bonita Springs-Estero area also saw some substantial sales increases. Overall sales were up 63% and pending sales rose 20%. Single family home sales again led the way with an 83% increase year over year and the median home price fell to $365,000.
While lower prices appear to be the driving force behind these increases in sales (Naples median home price fell to $350,000), other factors are also playing an important role. International buyers are not only finding many well priced properties; they also have much more buying power because of the current weak dollar. Stable mortgage interest rates are helping too. Savvy buyers are aware of the bargains and are taking advantage of the many well priced properties that are on the market.So, if you're looking for that dream vacation home or condo you've always wanted, now is the time again to buy here in Southwest Florida.
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