Real Estate Blog & News

Immobilienmarktbericht Januar 2011 fuer Lee County

 

Lee County Market Statistics

January, 2011

2010 continued to be a record setting time for sales in Lee County. 2009 and 2010 activity have brought inventory levels down close to a stable market. With the filing at the Lee County Courthouse to continue to shrink, there is light at the end of the tunnel as to the end of a soft market.

Typically 6 - 12 months after a filing at the court house, the property will come onto the market. Lee County is currently backlogged 10,000 - 12,000 properties. There should be a push in 2011 to get these processed through the court house. If these foreclosures get processed and pushed through in 2011, there should not be much supply coming onto the market from foreclosures after this, which should firm up the market.

Currently, January and February have a small amount of foreclosures scheduled, so realistically, it may be a few more months before we start to see a significant number of properties come through the court house.

It is possible the properties could be delayed into 2012. Based on the absorbtion rate, which is how many months of inventory exists in a market, Lehigh Acres is the hottest market while Naples is the softest market.

 
Thank you - Danke.

Sincerely yours – Mit freundlichen Gruessen

Gerhard O. Jakobeit, P.A.
REALTOR®
Sun Coast Global, Inc.
1633-A Cape Coral Pkwy E
Cape Coral, Fl 33904
Tel. 239-677-7057
[email protected]
www.jakobeit.com
www.suncoastglobalrealty.com 
 
 

Cape Coral Economic Development Office beurteilt Immobilienmarkt sehr positiv

Cape Housing Market Thriving In 2010, Cape Coral led the state in highest number of residential property sales and the new year is off to a great start.  Sales continue to be aggressive, interest rates are historically low and home prices that remain below replacement cost make this an excellent time to buy.  Here is a brief overview of the Cape's 2010 home sales:   Fewer distressed sales The number of distressed home sales declined to 62 percent of total sales.  In 2009, foreclosures and pre-foreclosures (short sales) made up 73 percent of the total homes sold.  Today's Cape Coral home inventory is made up of only 35 percent of short sales and foreclosures combined.   Strong numbers Almost 6,000 single-family homes were sold by Realtors.  That makes the number of homes sold in 2010 greater than any single year during the real estate boom (2003-06) and exceeded in history by only the sales in 2009.   Most under $200,000 Of the homes sold in 2010, 86 percent were sold for less than $200,000, the same percentage as 2009.   In 2010, eight homes sold for more than $1 million, compared to seven in 2009.   Decreasing inventory In January 2007, Cape Coral had 6,073 single-family homes on the market. Today, we have 2,387 homes.  We've enjoyed a steady decline that if sustained will lead to the return of property value appreciation.  Media attention continues to attract investors and future retirees to our market.  Buyers want what we are blessed to enjoy each and every day at perhaps soon to be gone bargain basement prices.