Southwest Florida Real Estate - Foreclosure Filings Drop

As most everyone already knows, foreclosure filings continue to impact the Southwest Florida real estate market. However, at least for the month of March, filings improved in both Lee and Collier counties. For Lee County, there were 3,961 new filings, down 18% from March, 2009. In Collier County, there were 1,390 new filings, down 24% from a year ago.

While both counties' filing numbers were down on a year over year basis, foreclosure sales are still having a major impact on the overall market. In Lee County, 41% of March's solds were a foreclosure; in Collier County, foreclosures accounted for 21% of the month's closed sales.

The numbers are quite a change from the last year as far as filings are concerned and while one month's data does not make a trend, it is hopefully a good sign of things to come. Naturally, no one can predict for certain what will happen as we move forward from here. Many forecasters still predict it will be doom and gloom. However, with a little luck, things will slowly continue to improve. As usual in this real estate market, only time will tell the tale.

*Sales Data Statistics from SWFL and NABOR MLS