Hot Market News
View Market News & my Blog at www.NaplesFLAreaHomes.blogspot.com 
(July 2008 Update) Naples(NA), Bonita Springs(BS), Estero(ES) First Half Home Sales Market Report
(May 2008 Update)
Fort Myers, Fl: April Home Sales Up 32% From Last Year
Inventory of unsold homes declining
The Realtor Association of Fort Myers, Florida reports that a total of 684 existing single family houses were sold in April. That's a 32 percent increase in the number of single family houses sold compared to last April. In addition, 1176 single family homes are pending, reflecting a 47.2 percent upswing since April, 2007.
The median sales price is $180,000, up 21 percent from 2003 levels, but down from year ago by 16 percent. Moderately priced inventories are moving as buyers are taking advantage of the lower interest rates and the affordable property values in the market. Based on the 4-month trend, it is anticipated that existing single family home sales will out-pace 2007 sales by 30 percent. "It is apparent that buyers are seeing the value of homes in Southwest Florida and are entering the market at increasing numbers."- Special to Florida Weekly
(August 2007 Update)
Two of the fastest-growing metro areas in the Nation
**Newly revised population numbers out by the Census Bureau show some astonishing growth that will certainly help pull Southwest Florida out of the housing slump. With just over 45,000 people moving to Lee & Collier county (each year) it's only a matter of time before they begin to make a significant impact on the current supply.
August 2007 Revised Census numbers:
Lee County grew by 32,247 people — or 6 percent — between 2005 and 2006, according to the revised figures which estimate the total population at 571,344. This number varies slightly from the University of Florida numbers which estimate it at 615,741 as of April 2007.
Almost half the growth was from the foreign-born population. The number of immigrants in Lee — 86,891 — grew by 21 percent in the same period and was more than double the 40,362 immigrants in 2000. More than 2/3rds (or 10,000) of the 15,000 immigrants that moved to Lee in the last year are US citizens.
New Collier 2007 stats:
Collier County is a county located in the U.S. state of Florida. As of 2000, the population was 251,377. The U.S. Census Bureau 2006 estimate for the county is 314,649(a roughly 5% increase per year or 15,000 people a year).
• The Southwest Florida regional population is projected to increase 138% from 2000 to 2030.
From 2000 to 2005, the population of Collier County, Florida grew 22%. In 2006, the population in Collier County was 319,905. Collier County population is projected to increase by more than 28% from 2003 to 2010. Collier County’s population rises by an estimated one-third to nearly 500,000 during the winter season which traditionally lasts from November through April.
• Nearly 76% of Collier County’s total population is younger than age 65. The Median age of residents in Collier County is 44.2.
More findings about Florida Real Estate is available on UF's web site at www.cba.ufl.edu/fire/realestate/cres/findings.asp
(August 2006 )
We're getting younger as population, business grows!
The changes in Lee county can be seen through Collier and other neighboring counties as well.The faces of Lee county are changing – growing younger and more diverse. They are also growing faster than ever before.
Lee Counties permanent population grew by 30,000 people from 2004 to 2005 and by 100,000 from 2000 to 2005. (Lee county includes Fort Myers, Bonita Springs, Estero, Sanibel, Cape Coral and Lehigh Acres).
Really explosive growth kicked in around 2000.
The retiree community already seems to be changing.
The population older than 62 grew about 10 percent from 2000 to 2005. However, last year, it made up 26 percent of the population, down from 29 percent in 2000.
The median age has dropped two years to 43.
Many of the young families have children, and local schools are expanding to try to keep up.
The percentage of school-age children is on the increase, up more than 21,000 people, or 26 percent, from 2000 to 2005.
In 2005, eight new elementary schools opened, and this year, 17 schools added desks for 6,000 students.
From August of the 2000-01 school year to the same time this year, the district added 17,219 students.
The Lee school district welcomed its student No. 80,000 last month.
“We grew 5,000 students last year, and we may hit that again this year,” Smith said.
More business
Marietta Mudgett, who heads the Greater Fort Myers Chamber of Commerce, said the business community is booming in reaction to the population increases.
“We’ve seen major growth,” she said.
“We’re seeing a lot more smaller businesses moving into the area, people opening businesses and our local businesses are expanding and adding staff.”
Mudgett said the availability of jobs and good weather keeps bringing people in even though housing prices have shot up.
“The people who retired here have their young families come down. They don’t want to wait until they are 65,” Mudgett said.
“A lot of the people that are moving here have visited here before. They see the lifestyle and the opportunities, and they see it as a place to start their own lives, to send their children to school.”
Mudgett said she realized how much the population was growing when the snowbirds went home and the traffic didn't get much better.
“It’s not just a retiree haven anymore,” she said. “We have a lot of young people moving in, people with a lot of energy and technology skills.”
Past News for thought: Real Estate entrepreneur Barbara Corcoran in an NBC interview stated that the country wide real estate market is hot and while some worry that it may slow down it has traditionally been the single best place to invest money in both the short and long term. Nation wide two out of three homes are selling for more than the list price.
A few tips to consider when buying your property include:
- Make sure you are pre-approved for a mortgage.
- Whether the property has been listed for 3 days or 3 months be ready to write a contract as soon as you see the property that you like because once you decide you like it so will three other people.
- Historically low interest rates and your payments may make this the best time to purchase.
More findings about Florida Real Estate is available on UF's web site at www.cba.ufl.edu/fire/realestate/cres/findings.asp
* For more great tips & info see:
- More Market News - Updated Daily
- Kiplingers 2005 Real Estate Outlook.
- Lee County Leads Nation in Growth for 2004
- A Season of Sizzle in Naples- Real Estate
Recent Figures show - Sales up 100% & prices up 30% !
Click photo for full report.
