New housing numbers received by South West Florida housing market news reveal SWFL Home Sales/Prices are on the upswing.

Over the past several months, the housing market in southwest Florida has shown signs of a slow recovery. Home inventory has been diminishing at ever-increasing rates and in November, home sale prices actually began to rise as well.

The Realtor Association of Greater Fort Myers and the Beach indicated that the new sales numbers look reassuring. Earlier this month the group released the following information:

Housing sales in November 2009 increased 70.5% over November 2008. There were 1,245 single family homes sold in November, bringing the 2009 total to 15,336. This compares to the 8,768 homes sold in all of 2008.

Home sales in November included 47.4 percent that were REOs and 18.9 percent that were short sales. Conventional sales were up 33.7 percent and sales pending for the month totaled 3,741 which translates to a 57.5 percent increase over last year’s numbers.

There are also 6,976 homes now in the MLS system. That total number is down from last year’s 12,106 for the same time period. November’s median price of existing homes sold in November increased 5% from $85,600 in to $89,900 in October 2009. That price is down from the 2008 median price of $105,000.

This news is full of promise for one of the hardest hit areas by the housing bubble, and it signifies that the rock bottom bargains in real estate that have been plentiful in recent months are now becoming more difficult to come by.

There is still available inventory at prices that are well below replacement cost so now is the time to purchase these income properties.

Learning about the area is the key to finding properties that will start paying off immediately.

Is South West Florida Turning into a Competitive Real Estate Market?
New housing numbers received by South West Florida housing market news reveal SWFL Home Sales/Prices are on the upswing
Over the past several months, the housing market in southwest Florida has shown signs of a slow recovery. Home inventory has been diminishing at ever-increasing rates and in November, home sale prices actually began to rise as well.
The Realtor Association of Greater Fort Myers and the Beach indicated that the new sales numbers look reassuring. Earlier this month the group released the following information:
Housing sales in November 2009 increased 70.5% over November 2008. There were 1,245 single family homes sold in November, bringing the 2009 total to 15,336. This compares to the 8,768 homes sold in all of 2008.
Home sales in November included 47.4 percent that were REOs and 18.9 percent that were short sales. Conventional sales were up 33.7 percent and sales pending for the month totaled 3,741 which translates to a 57.5 percent increase over last year’s numbers.
There are also 6,976 homes now in the MLS system. That total number is down from last year’s 12,106 for the same time period. November’s median price of existing homes sold in November increased 5% from $85,600 in to $89,900 in October 2009. That price is down from the 2008 median price of $105,000.
This news is full of promise for one of the hardest hit areas by the housing bubble, and it signifies that the rock bottom bargains in real estate that have been plentiful in recent months are now becoming more difficult to come by.
There is still available inventory at prices that are well below replacement cost so now is the time to purchase these income properties.
Learning about the area is the key to finding properties that will start paying off immediately.