In the month of June a total of 115 condos were placed under awaiting closing in the Bonita Springs area. Of the 115 condos pending sale, 13 condos were foreclosures. This represents approximately 15 percent of the total condos awaiting closing - pended sales. At the beginning of July 20 condos were active listings for sale or about 2 percent of the 1105 condos for sale. Based upon the activity in June there is less than two months of condo inventory for sale. Search for foreclosed condos for sale in Bonita Springs.
The Naples real estate market for homes is starting to show signs of strengthening in many aspects and prospective buyers should be aware of the positive changes. The statistics presented and discussed below are global in nature for the Naples area and do not represent the more important micro-market views which can vary greatly between the North Naples, Naples West, Naples Central, Naples South, Pelican Bay, Pelican Marsh, The Vineyards and Golden Gate Estates areas.
Listings:
During the month of May a total of 689 homes were listed for sale. In May 2008, the number of homes listed for sale in the Naples area was 840. In addition the 689 homes listed for sale was less than the 852 homes in May 2007. The downward trend of new listings is continuing.
The listed homes in May 2009 was the lowest number of homes listed since October 2005. The noteworthy item about this fact, is that in October 2005, was the start of the real estate erosion even though the median sold price of homes peaked in January 2007 with January 2006 as the next highest median sold price month.
While the volume of Naples homes on the market remained stable, the months of inventory (time needed to sell all the homes based upon closed sales) did drop one month between September and October. At the beginning of September the months of inventory was 29 while at the beginning of October it was 28 months.
For explanation of the meaning of the various moving averages you can read more on my Naples Real Estate Blog.
Glenn Ginsburg serves the developments of Pelican Bay, Pelican Marsh and The Vineyards in Naples.
Real estate broker for Naples, Bonita Springs, and Estero. Three consecutive years voted FIVE STAR: Best in Client Satisfaction Real Estate Agent by Gulfshore Magazine (2008, 2007, & 2006)
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