Homes for Sale in Naples Florida
Home Valuation Code of Conduct Changes Effective May 1, 2009
The Federal Housing Financing Agency’s Home Valuation Code of Conduct (Code, or HVCC) will be effective on May 1, 2009, and will require that the lender order the appraisal. The intent of the Code is to help ensure that borrowers, homebuyers and secondary mortgage market investors receive fair and independent property valuations.
During the month of February 2009 a total of 228 homes were sold with a median sold price of $211,300 for the Naples area.
The number of homes sold when compared with February 2008 shows an increase in sales volume of 85 homes or roughly 59.4 percent.
The February 2009 homes sold also represents an increase over February 2007 by 81 homes or roughly 55.1 percent.
In addition the 2009 homes sold figure is 25.3 percent higher than February 2006 by 46 homes.
The median price of a single family home sold in the Naples area does reflect a devaluation from the median sold price of $400,000 in February 2007 or $188,700, which translates to roughly 47.2 percent. [Read more...]
The number of Naples condominiums available for sale at the beginning of October was 4716. The absolute number of listings increased by 41 condos over the 4675 listings at the beginning of September. Therefore, the months of inventory remained stable at 29 months. Viewing the months of inventory for the 12 month moving average trend shows a downward trend from February. The months of inventory in February was 37 months, while at the beginning of October it was 29 months.
Graph for the number of months for Naples condos available for sale.
During the month of August 117 Bonita Springs homes were listed for sale. For the same month in 2007, 149 homes were listed for sale; this represents a decrease of 21.5 percent. The increase from 2006 was 10.7 percent from the 131 new listings. In July 2008 there were a total of 110 homes listed for sale and in June 129 homes.
Potential short sale homes listed in August was 12 or 10.3 percent and 6 homes or 5.1 percent are listed as a foreclosure, REO or bank owned.
Village Walk of Bonita Springs had the largest number of potential short sales – 4 with a median list price of $227500. The remaining potential short sale homes were listed in numerous developments.
The Bonita Springs homes listed as foreclosures were spread through various developments.
The inventory of available Bonita Springs homes for sale in February was 1201 homes or about 33 months. At the start of August the inventory had dropped by 217 homes or 18.1 percent to 984 homes or about 26 months. [Read more...]
During the month of August 73 Estero homes were listed for sale. For the same month in 2007, 59 homes were listed for sale; this represents an increase of 23.7 percent. The increase from 2006 was 17.7 percent from the 62 new listings. In July 2008 there were a total of 66 homes listed for sale and in June 66 homes.
The number of homes available for sale in Estero has dropped from 575 homes in February 2008 to 456 at the end of August. This represents a reduction of about 20.7 percent. In terms of the number of months of homes to sell it is presently at 20 months versus 32 months in February. [Read more...]