The condominium market for the Naples real estate area at the start of September 2009 declined down to 4095 units for sale. In the year over year comparison the number of unit declined 580 or about 12 percent from the 4675 condominiums on the market in September 2008.

The September 2009 was also a decline from the August 2009 4248 condominiums on the market. The decline represents a about 3.6 percent reduction.

The composition of various types of possible real estate transactions of the September condos for sale are broken down as follows:
Traditional condos for sale – 3482
Potential short sales – 533
Foreclosed condos – 80

In August the breakdown of condos for sale was as follows:
Traditional sales – 3629
Potential short sale – 542
Foreclosed condos – 77

In the Naples real estate market the month of September has started with a total of 3777 homes for sale. In a year over year comparison the number of homes have declined from 5247 in September 2008. This represent a drop of about 28 percent. The number of homes for sale is taken from the close of business on August 31st.

At the start of August there were a total of 3923 homes for sale. The number of homes for sale has declined 146 homes or approximately 3.7 percent.

The composition of Naples homes for sale is shown by the pie-chart below:

During the month of June a total of 4 Estero foreclosure condos were sold. During the month of June a total of 20 condos were sold. The foreclosure condos represents about 22 percent of the total sales.

In the month of June a total of 82 condos were placed under awaiting closing in the Bonita Springs area. Of the 82 condos pending sale, 7 condos were foreclosures. This represents approximately 9 percent of the total condos awaiting closing - pended sales. At the beginning of July, 3 condos were active listings for sale or about 1 percent of the 265 condos for sale. Based upon the activity in June there is less than 1 month of condo inventory for sale. Search for foreclosed condos for sale in Bonita Springs.

On July 1st there were 8 Estero foreclosure homes on the market or roughly 3 percent of the total number of active listing with the Estero area.

During the month of June a total of 13 homes offers were presented to either banks, lenders, or REO companies which were accepted, thus pending sale. The number of Estero foreclosures which pended equated to approximately 10 percent of the 109 homes which had offers accepted.

During the month of June a total of 5 foreclosed homes were sold, which represents about 27 percent of 36 homes sold.

Search for foreclosure homes for sale in Estero.

On July 1st there were a total of 28 Bonita Springs foreclosure homes on the market or roughly 3 percent of the total number of active listing with the Bonita Springs area. During the month of June a total of 161 homes offers were presented to either banks, lenders, or REO companies which were accepted, thus pending sale. The number of Naples foreclosures which pended equated to approximately 24 percent of the 126 homes which had offers accepted. During the month of June a total of 12 foreclosed homes were sold, which represents about 23 percent of 47 homes sold. Search for foreclosure homes for sale in Bonita Springs.

During the month of June a total of 14 Bonita Springs foreclosure condos were sold. During the month of June a total of 46 condos were sold. The foreclosure condos represents about 33 percent of the total sales.

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.

On July 1st there were a total of 144 Naples foreclosure homes on the market or roughly 3 percent of the total number of active listing with the Naples area. During the month of June a total of 263 homes offers were presented to either banks, lenders, or REO companies which were accepted, thus pending sale. The number of Naples foreclosures which pended equated to approximately 26 percent of the 1126 homes which had offers accepted. During the month of June a total of 164 foreclosed homes were sold, which represents about 43 percent of 43 percent of total of 377 homes sold. Search for foreclosed homes for sale in Naples.

During the month of June a total of 65 Naples foreclosure condos were sold. During the month of June a total of 290 condos were sold. The foreclosure condos represents about 23 percent of the total sales. In the month of June a total of 662 condos were placed under awaiting closing in the Naples area. Of the 662 condos pending sale, 83 condos were foreclosures. This represents approximately 13 percent of the total condos awaiting closing - pended sales. At the beginning of July 64 condos were active listings for sale or about 2 percent of the 4416 condos for sale. Based upon the activity in June there is less than one month of condo inventory for sale. Search for foreclosed condos for sale in Naples.

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.

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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.