Tuesday, July 1, 2008

2nd Quarter Update of Sales & Prices

I wanted to remind people with a photograph of what we all come to Southwest Florida for before providing some information on the market.

...Weather, Beaches, Boating & Sunsets!

This is just a hip shot of the make up of the BN/ES and NA MLS Inventory as of today, July 1st, 2008!

Very interesting numbers for both buyers & sellers!

Total number of listings as of this morning in Bonita/Estero and Naples, all residential types = 13,552

Total number of closed sales over the last 12 months in BN/ES, NA, resid. = 5,362

Current YRS/MNTHS of Inventory in BN/ES and NA, Residential = 2.52 yrs/30.3 mths

Market MakeUp Within Price Ranges BN/ES and NA, All Residential Types

0-250K 4,131 or 30% of the entire inventory

250-350 2,572 or 19% of the entire inventory

350-500 2,282 or 17% of the entire inventory

500-750 1,826 or 13% of the entire inventory

750-1M 992 or 7% of the entire inventory

1M-2M 1,135 or 8% of the entire inventory

2M-3M 442 or 3% of the entire inventory

3M-5M 219 or less than 2%

5M-10M 113 or less than 1%

10M 18 or not that much, in fact as a bonus if you are looking over 10 million we can do it all in a day or two.

Pending sales 2nd Qtr of 07 vs. 2nd Qtr of 08 are up 35%, that is BN/ES and NA, all residential areas.

So 66% of the inventory is below 500k, and a whopping 49% is below 350k.

These are some pretty interesting numbers for those that know the Naples & Bonita Springs market and think prices are still too high.

Hopefully these numbers provide an update on how we stand as of July 1st and further my commitment to providing the most up to date statistics and market news Naples, Bonita Springs & Estero southwest Florida market.

Delivering Noteworthy Results!

Garren Grup, REALTOR


Anonymous said...


One thing that I would suggest that people do when they are evaluating and area that they like is compare what the price per square foot is doing. That is probably the best way to determine if a particular neighborhood has hit bottom or not. If it is going up then you might want to make on offer. If it is going down you still might want to make an offer but adjusting it downward to cover themselves. Please remember that no one has a proven method for timing the bottom or top for that matter.

Anonymous said...

Pending sales are up 80.1 percent with 1379 single family homes pending compared to 762 in June 2007.

This news come from the Fort Myers Realtor Board. Just goes to show you that this isn't Flint Michigan or Sandusky Ohio.

People are taking advantage of the low prices at this time.