Southwest Florida Real Estate Sales Continue Strong in August

Southwest Florida real estate sales continued to show strength in August. It marks seven straight months of real estate sales increases for Bonita Springs and Naples and eight straight months for the Ft. Myers area including Cape Coral.

While lower prices appear to be the driving force behind these increases in sales, other factors are also playing an important role. International buyers are not only finding many well priced properties; they also have much more buying power because of the current weak dollar. Falling mortgage interest rates are helping too. Savvy buyers are recognizing that many affordable opportunities now exist and are quickly grabbing up their piece of the Southwest Florida dream.

Here are some examples of August's sales numbers:

Cape Coral and Ft. Myers Sales Data

• Cape Coral had 416 total existing property sales for the month, up 210% from a year ago. The overall median sales price fell to $132,000, down 38% year over year. Single family home sales rose 207% and condominiums sales rose 253%.
• Ft. Myers had 262 total sales, up 12% year over year. The median price fell to $210,000 for single family homes and to $170,000 for condominiums.
• Pending sales (519) rose by 104% versus August of last year.

Bonita Springs and Naples Sales Data

• Bonita Springs had 79 total sales, an increase of 8% year over year. The median price fell to $425,000 for single family homes and to $244,500 for condominiums.
• Naples had 376 total existing property sales, up 26% year over year. The overall median sales price fell to $238,000, down 36% year over year. Over half the overall sales (222) were in the less than $300,000 price category. Sales of properties in that price range were up 275% versus August of 2007.
• Pending sales (527) rose by 92% versus August of last year.

So, if you’re looking for that dream vacation home or condo you’ve always wanted now may be the time to take advantage of one of the well priced properties that are available. The bottom line is simple, the Southwest Florida real estate market is moving along quite nicely once again and if you wait too long, you just might miss the best buying opportunity Southwest Florida has experienced in years.

*Sales Data Statistics from NABOR & SWFL MLS

Gulf Coast Associates, Realtors specializes in upscale Southwest Florida properties from Naples to St. Petersburg. Call us today at 888-617-3674.

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