Single Family and Fixer Upper Homes for Sale Posted Strong Numbers

Residential property sales in some areas of Florida ended 2010 at a strong note. Sales of various residential types, including fixer upper homes for sale, were up in December when compared to a month before. However, most markets recorded a decrease in sales during December when compared with year-ago levels.

Residential properties, such as foreclosures in Naples, FL, and non-foreclosures in majority of the Florida markets, posted better than expected numbers during the last month of 2010. In Lee County, for example, sales of both single family dwellings and condo units jumped in December compared to November 2010. Data from Florida Realtors showed that sales of single family residences in the county totaled 1,322 in December, representing a 30% surge from the November sales total of 1,022.

Although sales of properties under foreclosure listings in Florida were expected to decline in December due to seasonal drops in housing market activities, overall residential property performance was still better than initially projected. Condominium sales in Lee jumped from the 260 units recorded in November to 431 in December, representing a 65% month-over-month improvement.

However, although monthly sales statistics showed improvements, sales on a year-by-year basis fell last year. The volume of fixer upper homes for sale and other types of residential properties that were sold in December 2010 remained lower than total sales posted in December 2009. Single family dwelling sales for Lee in December of last year were 11% lower than the 1,487 units sold in December of 2009. In terms of condominium sales, December 2010 figures were 7% lower than December 2009, when 463 units were sold.

According to analysts, Lee County’s housing market performed well in 2010, given the challenges it faced during the year, not least of which were the temporary hold on sales of houses in foreclosure and the Gulf of Mexico oil spill, which discouraged a lot of potential buyers. Full year figures showed that single family houses in the county represented a sales decline of 6% compared with 2009.

However, although sales of regular residential properties like fixer upper homes for sale declined last year, condo sales were up for the full year. For 2010, condo sales recorded a jump of 21% when compared with 2009 levels.