says the headlines in today's (Tuesday, 27-January) The News-Press.
And why wouldn't sales rise dramatically? After all, there is one single driver in today's real estate market - Price...aka bargains, steals, and deals. That's what is driving it, period. The article sighted statistics for Realtor assisted sales as:
Homes sold - 1,064 in December 2008 versus 432 in December of 2007. Increase: 146%
Median price - $106,900 in December of 2008 versus $215,200 in December of 2007. Decrease: 50%
The median price is the price at which half of the homes sold for less than that amount and half of the homes sold for more than that amount.
"Homes" in this case refer to single-family residences. Condominium sales posted very similar numbers - increase in sales 98% and median price decrease 24%.
If you think that it's just Lee County, it's not. Statewide in Florida, the Florida Associaion of Realtors reported that Realtor assited sales for December in all of Florida were 11,053, a 27% increase. The National Association of Realtors reported that sales nationwide for the same period rose 6.5%.
It is also clear that the sale of foreclosed properties along with some short sales is driving the median prices downward. In effect, it has turned the real estate market today, into that of properties priced below $300,000. However, the affect on higher-priced properties is two-fold. Sellers reluctant to reduce the listing price are finding that their properties sit on the market for a long time or, just never sell. Also, the prices have come down in the higher-priced category but, there is still room for more price reductions. Nevertheless, the deals are good in all segments. Shop carefully and bargain hard!
Lee County and I cover: Cape Coral, Fort Myers, Estero, Bonita Springs.
In you're wondering, the situation in Collier County is similar.
Collier County and I cover: Naples and Bonita Springs
