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Southwest Florida Real Estate Market – May 2009

June 10 2009 Press Release from the Cape Coral-Fort Myers assocation of Realtors:

May homes sales were up over 101% year to year with 1,451 existing single-family homes sold, compared to 719 in May ’08. Pending sales were 38.5% above the prior year, with 1,980 single-family homes pending versus 1,429 a year ago.

The supply of single-family homes stayed the same versus the prior month at 3.8 months, which is significantly lower than May ’07, when the inventory supply was 8.1 months. This reduction of inventory is evident by the drop in the number of single family homes listed in the MLS. At the end of May, there were 7,477 active listings of existing single-family residential properties compared to 11,634 a year ago (a decline of 35.7%) and the active listings were down 13.7% versus the prior month.

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