Tip of the Month :

This month I want to compare three geographic areas of Florida and the sales activity in each. The areas we're going to look at include Naples (Sunshine MLS data), SE Florida - St. Lucie to Dade (Regional MLS data) and Mid Florida - Bradenton to Orlando(Regional MLS Data). Click on the area name in the paragraphs below to view the reports for each MLS that I'll discuss.

Naples had 442 sales of single family homes and condos combined during the month of March and 15,338 actively listed single family homes and condos during the same period. Sold units accounted for 2.88% of all inventory during March. At the rate of 442 units selling per month, it would take about 34 months to sell all that inventory. 62% of all units sold are taking more than 121 days to sell.

Real estate markets are local. Some general conclusions can be drawn from this data - #1 something is screwy with real estate agent reporting in Dade county! Seriously, in general listings are taking longer to sell. Naples is far worse off than other areas of the state as far as absorption goes.
For a more introspective look closer to home, look at the Naples report.
The only way to compare apples to apples here is to look at the average price of a sold condo in March $585,100 and the average price of an actively listed condo in March $606,954. Maybe if sellers would shave off that 5% from their asking price, they wouldn't sit on the market for more than 120 days waiting to sell. I am certainly no statistician but that is my simple read of the situation. Feel free to share with me your opinions and I hope I've given you some useful information.

Southeast Florida had 4,422 sales of single family and condo units in March
2007 while there was a total of 24,251 actively listed homes and condos.
Sold units accounted for 18.23% of all inventory in March. If sales continued at the pace of 4,422 per month, it would take just under 6 months to sell all the inventory listed. 17.7% of all units sold in under 30 days and slightly less or 17.5% of all units took more than 190 days to sell.
Interesting dichotomy.

Mid Florida had 3,993 sales of single family and condo unit in March with a total of 14,337 units actively listed. The sold units equated about 27% of the total inventory during March and at that rate it would take 3.59 months to sell the inventory provided no new units were listed. Just over 43% of all listings have taken more than 120 days to sell in this market.

Helpful Resources:

Collier County Website

Lee County Website

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