Bonita Springs and Naples Real Estate Sales - April, 2010 Update

The sales of homes and condominiums in the Southwest Florida real estate market continued to impress as season wound down in April. The cities of Bonita Springs and Naples saw their property sales rise substantially. Both snowbirds and investors alike pulled the trigger and snapped up one of the many good deals currently available. Buyers who remain in a "wait and see" mode are finding out their choices are becoming more limited and many of the best properties are now receiving multiple offers.

Here's a synopsis of the April sales numbers:

Bonita Springs Real Estate Sales

Bonita Springs Real Estate Market Highlights:

• April sales totaled 197 and were up 44% from a year ago.
• Single family home sales were up 37% and totaled 91 sales.
• Single family home inventory has fallen to 3.9 months worth of supply.
• Condos sales were up 61% and totaled 106 units.
• Condominium inventory has fallen to 4.3 months worth of supply.
• For the month, there were 26 foreclosures sold, 148 normal sales and 28 short sales.
• The list to sales price average for all properties sold was 87.91%.
• The average Days On Market were 175 for single family homes and 204 for condominiums.

Naples Real Estate Sales

Naples Real Estate Market Highlights:

• April sales totaled 914 and were up 46% from a year ago.
• Single family home sales were up 25% and totaled 407 sales.
• Single family home inventory has fallen to 4.5 months worth of supply.
• Condos sales were up 69% and totaled 507 units.
• Condominium inventory has fallen to 5.9 months worth of supply.
• For the month, there were 145 foreclosures sold, 630 normal sales and 139 short sales.
• The list to sales price average for all properties sold was 90.04%.
• The average Days On Market were 160 for single family homes and 169 for condominiums.

At the end of the month, there were 9,239 active residential properties listed in the Naples MLS. That's a decrease of 13% versus this time last year and reflects a 8.6 months' worth of supply of inventory. Pending sales were up 33% over last year and totaled 1,293. Foreclosures and short sales continue to drag down the median price. The median price of all sold properties was $208,000, up 22% from a year ago. The median price for properties sold above $300,000 was $550,000, up 5% from $525,000 in 2009.

It will be interesting to see how things go as we move into the summer season. If the tighter inventory trend continues, things are going to get tricky as the competition for properties will be fiercer. So, if you're thinking about purchasing a little piece of paradise for yourself and your family, now may be the time to do it. Waiting too much longer and you may just let the deal of a lifetime pass you by.

*Sales Data Statistics from SWFL and NABOR MLS