The downward trend in Southwest Florida foreclosures abated somewhat in the 3rd quarter. In Lee County, foreclosures rose slightly in September (0.3% over August), ranking it third in the state. The review shows that 1,378 Lee county housing units were in foreclosure (one in every 265), down from 3,823, or nearly 64% from September 2010. In Collier County, foreclosures spiked to 503 housing units (one in every 386), up 54% from 326 in August, but still down 60.3% from 1,267 units in September of last year.
For the 3rd quarter, Lee County totaled 1,453 foreclosures, down 44% from the 2,577 last year. Collier County had a total of 2,164 foreclosures, down 64% over the same time period. Overall, while the numbers rose slightly in September, they are still not too bad when you consider we've had over 100,000 foreclosures in the two county areas since January, 2006.
Foreclosure sales also continued to decline proportionately. For Lee County, 1,224 foreclosures were sold and there are only 493 currently on the market out of 7,393 total listings available for sale. In Collier, 269 foreclosures were sold and there are only 198 currently on the market out of 9,760 total listings available for sale.