Naples Foreclosure Statistics

Posted by Tim Ryan on Thursday, February 24th, 2011 at 5:21pm.

January 2011 Foreclosure Stats for Naples, Florida

How did Naples fare when compared to the US, Miami and Tampa?

We've all accepted that foreclosures are going to riddle the housing market for the near future, but how are things looking thus far in 2011? And specifically, how do Naples, FL foreclosure filing trends compare with national foreclosure statistics and two other major market players: Miami and Tampa?

Let's talk a bit about the makeup of the Naples housing market. Its housing market (and its economy for that matter) is moved primarily by second home buyers. These days, second homebuyers looking for foreclosed homes in upscale areas are acting quickly- and they should. Foreclosure inventory in these upscale neighborhoods is rather limited. And while foreclosures can be found in every socio-economic segment of Naples, high concentrations are located in workforce neighborhoods and are priced under the $200k mark.

As we head in to a new year, let's see how things are starting off. How do Naples, Florida foreclosure statistics compare with national numbers during the first month of 2011?

Foreclosure numbers at a national level for January 2011:

  • Nationally. 1 in every 494 housing units received a foreclosure filing in January 2011.
  • New foreclosures in January 2011 were up slightly (1.39%) over December 2010, coming in at 261,333.

January 2011 foreclosure stats for Collier County and Naples:

  • Collier County. 1 in every 697 housing units (or 271 units) received a foreclosure filing in January 2011 (this is about 200 units higher than the national average...which is a good thing!) Naples accounted for an amazing 252 of these 271 units, with Marco Island coming in next at a mere 11 units.
  • Naples. 1 in every 640 housing units in Naples received a foreclosure filing in January 2011.
  • Within Naples, zip code 34120 saw the most foreclosure filing action, with 30 properties receiving a foreclosure filing in January 2011. Zip codes 34140, 34116, and 34112 were not far behind, coming in at 27, 27, and 26 respectively.

January 2011 foreclosure numbers for that state of Florida, Miami, and Tampa:

  • Florida. The state of Florida had the distinction of coming in second behind California for the number of new foreclosure filings for the month of January 2011 with 21, 671 new filings. That means that 1 in every 406 housing units received a filing during the month. This top-ranking position is nothing new for the Sunshine State, and is up slightly from December 2010, which came in at 1 in every 343 Florida housing units receiving a foreclosure filing.
  • Miami. 1 in every 422 housing units in Miami received a foreclosure filing in January 2011. A figure that's about 200 housing units lower (or "worse") than Naples.
  • Within Miami, zip code 33193 saw the most foreclosure filing action, with 67 properties receiving a foreclosure filing.
  • Tampa. 1 in every 317 housing units in Tampa received a foreclosure filing in January 2011. Again, Naples figures come in better.
  • Within Tampa, zip code 33637 experienced the most foreclosure filing action, with 180 properties receiving a foreclosure filing. That's more than double the next closest zip which was 33647 with 74 filings.

All in all, the real estate market in Naples, FL is hanging in there, and opportunities for flips or second home buying are competitive when compared to other markets, especially in the under $200k range. When compared to the nation as a whole, and Miami and Tampa markets specifically, Naples saw less new foreclosure filing activity during January 2011. Now let's see what the rest of the year holds in store.

Guest contributor: Show Appeal Realty, an Arizona real estate brokerage selling Scottsdale Homes and Casa Grande real estate.

1 Response to "Naples Foreclosure Statistics"

Laura L Balas, CRS, e-Pro wrote:
In Northern Palm Beach County our market is pretty similiar! The sad part is that we have some first time home buyers missing out because investors are snapping up the properties. According to our Realtor association, the inventory of lender-mediated properties have gone down. From our understanding, there will be more lender-mediated properties showing up in the market place for possibly another year or two. In April, Lender-mediated properties made up approx. 9.5% of our inventory and approx. 17% of our closed sales.

Posted on Wednesday, June 1st, 2011 at 4:50pm.


Leave a Comment