It looks like the last real estate market segment in Florida that has held out for higher prices has finally burst its bubble too. Luxury Florida real estate sellers appear to have finally come to the realization that they too are going to have to give in on price in order to sell their properties.

While many folks may have thought such a move was a given under today’s housing market climate, the reality was another thing altogether. The reason for such an attitude was multi-faceted. Let’s just suffice it to say that most luxury real estate in Florida is located on some of the most prized property available. You don’t give away oceanfront estates, island getaways or high rise condominiums with views to die for just because the rest of the market hits hard times. In addition, folks who are wealthy enough to afford such properties in the first place are also wealthy enough to carry them as they weather the market downturn.

Tags: Florida, living, markets, real estate

The January thru June 2009 Sanibel Island real estate market statistics for both home and condominium sales are listed below. Sanibel Island, known as the “Shelling Capital” of the world, is one of Southwest Florida’s true treasures. Only 12 miles long and 5 miles wide, Sanibel is a haven of natural beauty, very romantic, and a place of solitude. Imagine seventeen miles of pristine soft white sand beaches all surrounding waterways, mangroves and wetlands teeming with abundant wildlife. Throw in the island’s quaint shopping experiences, numerous dining and nightlife choices, and 300 plus days of sunshine and you have the perfect Southwest Florida living destination.

Sanibel Island Real Estate Sales Data

Sanibel Island Homes Sales January-June 2009*:

• 55 Closed Sales

Tags: real estate, sales, SW Florida

The January thru June 2009 The Brooks real estate market statistics for both home and condominium sales are listed below. Encompassing 2,532 acres of natural Florida surroundings, The Brooks is master planned gated community consisting of five major and distinct communities - Copperleaf, Lighthouse Bay, Rapallo, Shadowwood and Spring Run. Each community is gated and sports a different kind of lifestyle. All five communities pivot around The Town Center and The Commons Club at The Brooks which also provides numerous amenities. With its central location between Bonita Springs and Estero, The Brooks provides a variety of lifestyle choices and price ranges and is a highly sought after place to live.

The Brooks Real Estate Sales Data

The Brooks Homes Sales January-June 2009*:

• 36 Closed Sales

Tags: real estate, sales, SW Florida

I was reading about some interesting research recently conducted by a professor at the University of Central Florida. Seems his analysis shows that current home values are just about where they would have been had the real estate bubble of 2005-7 not occurred. According to Professor Stan Smith, “most homeowners are within 6% of where they would have been had there not been a housing bubble. The people who have been here since prior to 2005 should not have been hurt,” though he also added: “… a lot of people who did buy in 2005 and 2006 obviously were hurt significantly.” However, a long-term view of the Florida real estate market reveals that even though prices rose and fell dramatically in recent years, they appear to have settled back into more normal historic patterns.

Tags: Florida, markets, real estate

The January thru June 2009 Pelican Landing real estate market statistics for both home and condominium sales are listed below. Pelican Landing is an upscale gated golf community with excellent amenities and is considered one of Bonita Springs premier communities.

Pelican Landing distinguishes itself by being the only community in the area to own a private barrier island on the Gulf of Mexico. The island includes a 32 acre beach park that residents have daily access to via a community run boat shuttle service. Residents can also opt for membership in the Pelican’s Nest Golf Club. Its two 18 hole Tom Fazio designed golf courses are considered by many as some of the best available here in Southwest Florida.

Tags: real estate, sales, SW Florida

New home construction sales continue to be slow in the Ft. Myers and Naples real estate markets according to a report released this week by Metrostudy, a national housing market research firm.

In the last 11 quarters, move-ins have outpaced housing starts, which has helped to decrease the inventory. For the first six months of the year, there have been 789 move-ins and 461 new home starts. That leaves the number of finished vacant new homes currently on the market at 705, which equates to a 4.7 month supply at the current sales pace. In addition, prices are still trending downward and communities like Bella Terra, The Plantation and Sandoval have some really good buys on the homes they currently have available.

Tags: real estate, sales, SW Florida

Florida real estate sales are hot. Yes, you read that right. The real estate market in Southwest Florida is booming and the rest of the state is doing quite well too. In fact, for the first six months of the year, the Cape Coral and Ft. Myers market area has seen sales soar 116% on a year over year basis and the Bonita Springs and Naples market area was not too shabby either, up 34%. Overall, Florida’s existing home and condominium sales have risen on a year over year basis for ten straight months. And, for two consecutive months in a row, the statewide median sales price for existing homes rose over the previous month’s figure. Not bad for a market that some in the press portray as dead in the water.

Tags: foreclosures, real estate, sales, SW Florida