Take a look at this article from the Naples News. It appears that buyers are coming to the conclusion that the bottom of the market is very near. Existing single-family home sales in Florida were up for the third month in a row in November. If you are an investor or first time home buyer you better not wait much longer. Home prices appear that they may not fall much lower. For a full list of REOs in our area, please emal me at isemory@hotmail.com. There are still some great deals out there, but they are getting purchased very quickly.
Fort Myers-Cape Coral market sees major jump in Realtor-assisted home sales
By LAURA LAYDEN
2:37 p.m., Wednesday, December 24, 2008
The Fort Myers-Cape Coral market saw a 64 percent jump in Realtor assisted sales for single-family homes in November.
Last month, there were 600 existing home sales, up from 365 in the same month a year ago, according to the Florida Association of Realtors.
The median sales price for single-family homes declined 53 percent to $106,100 in November, down from $228,100 a year ago.
The median price is the price
at which half the homes sell for more and half for less.
While single-family homes sales were up in Lee County last month, condo sales were down. There were 85 existing condo sales, down 21 percent from 107 a year ago. The median price was $136,200, down 20 percent from $170,000 a year ago.
In Marco Island, there were 25 single-family home sales in November, up 79 percent from 14 a year ago. The median price dropped 48 percent to $262,500, down from $500,000 a year ago.
Last month, there were 13 condo sales in Marco, down 50 percent from 26 a year ago. The median price declined 26 percent to $295,000, down from $400,000 a year ago.
In Punta Gorda, single-family home sales were up 13 percent last month. There were 174, compared to 154 a year ago. The median price fell 45 percent to $97,700, down from $177,300 a year ago.
There were 17 condo sales in Punta Gorda, down 19 percent from 21 a year ago. The median price dropped 28 percent to $102,000, down from $142,500 a year ago.
Naples statistics are not broken out in the report, though they are included in the statewide numbers.
Statewide, existing single-family home sales were up for the third month in a row in November. Sales were up 4 percent. There were a total of 8,571 sales, up from 8,269 a year ago, according to the Florida Association of Realtors.
Nine of Florida's metro areas reported increases in existing single-family home sales in November. Some also showed gains in condo sales.
Florida's median sales price for existing homes last month was $158,300, down 27 percent from $217,000 a year ago.
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