(December 10, 2009 – Fort Myers, FL) Members of the REALTOR® Association of Greater Fort Myers and the Beach, Inc. closed 70.5 percent more home sales in November of this year than in 2008. There were 1,245 single family homes sold in November, which brings the year’s total to 15,336 while a total of 8,768 homes sold in all of 2008. Of those November sales, 47.4 percent of the homes were bank-owned, 18.9 percent were short sales and the remaining “conventional” sales, made up 33.7 percent. The number of pending sales (3,741) is 57.5 percent more than in November of last year (1,591). This has affected our inventory level as our monthly supply for single family homes has dropped below 2 months (1.9), which is significantly below October’s level, which was 4.1 months. There are currently 6,976 homes available for purchase through the MLS, which is 42.4 percent less than in November of last year when 12,106 were available. This drop in active listings, coupled with increased sales activity, has led months-of-inventory to decline by 75.0 percent since November 2008, when the inventory of single family homes was 7.6 months. The median price of all existing homes sold in November 2009 increased 5.0 percent to $89,900 from the $85,600 recorded in October 2009. October 2009’s median price is a decrease of 14.4 percent compared to November 2008’s median of $105,000. “If you are a first time homebuyer or have thoughts about moving up in the market, this is the time to purchase a home in Southwest Florida”, said Association President Suzanne Sherer. “Prices are starting to tick up and as our inventory levels continue to drop, the competition for the fewer homes available will become more intense. We anticipate that the first quarter of 2010 will continue to be strong as the homebuyer credit has been expanded and extended through April, 2010”. ***New 10 day short sale ruling could mean families no longer have to wait months in limbo while banks decide whether or not to accept offers. It could really help our market too! http://www.miamiherald.com/business/real-estate/story/1421797.html?storylink=mirelated If you need to more information on short sales, please feel free to contact us!
***New 10 day short sale ruling could mean families no longer have to wait months in limbo while banks decide whether or not to accept offers. It could really help our market too! http://www.miamiherald.com/business/real-estate/story/1421797.html?storylink=mirelated If you need to more information on short sales, please feel free to contact us!
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