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2011 Housing Inventory Ends At 5 Year Low

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WASHINGTON – Jan. 24, 2012 – Housing inventory slid to 1.89 million homes in December – down 6 percent from the previous month and 22.3 percent from the prior year, according to Realtor.com.

In the 145 markets tracked by Realtor.com, only Springfield, Ill., registered a year-over-year increase. Inventories plunged 49.7 percent in Miami, 49.1 percent in Phoenix, and 46.6 percent in Bakersfield, Calif.

Meanwhile, the national median price edged up 5 percent year-over-year.

Asking prices – the amount sellers include on a Realtor.com listing – climbed 32.5 percent in Miami, 21.7 percent in Naples, 21.5 percent in Fort Myers-Cape Coral, and 19.4 percent in Punta Gorda, according to Realtor.com.

However, asking prices were down 11 percent in Detroit, 10 percent in Chicago, 7.6 percenot in Las Vegas, and 7 percent in Sacramento.
Source: “Housing Inventory Ends Year Down 22 Percent,” Wall Street Journal (01/19/12)

Related News for the Naples Real Estate Scene:

2011 HOUSING INVENTORY ENDS AT 5 YEAR LOW
Annual Pending and Closed Sales Rise

NAPLES, Fla.-January 20, 2012- The 2011 Naples area real estate activity has led to a five year low of inventoryaccording to a report released by the Naples Area Board of REALTORS® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island).

Statistics compiled by NABOR show an increase in overall sales with inventory diminishing in Collier County, which is an encouraging sign that the favorable market conditions are moving buyers.

"Homebuyers have fewer choices today in 2012 than they had in 2011. Sales have continued to increase which has resulted in the overall available inventory to decline and naturally increase prices in some market categories," said Kathy Zorn, Broker/Owner of Florida Home Realty.

Brenda Fioretti, NABOR Media Relations Chairman and Managing Broker of Prudential Florida Realty agrees, "As the winter sales season begins in the Naples area, we currently have 1,564 fewer homes on the market than we did at the same time in 2010. The loss of listings includes 1,000 properties in the $300,000 and under price bracket. This is the lowest level of available homes and condos we have seen at the start of a new year since 2007!"

The available inventory declined 17 percent in 2011 with 7,581 available properties compared to 9,145 available properties in 2010. In the under $300,000 market category, the available inventory declined 21 percent to 3,771 properties in 2011 compared to 4,763 properties in 2010.

"Overall pending sales and closed sales increased year over year as our inventory continued to decline in 2011. Pending sales increased 8 percent and closed sales increased 5 percent," said John Steinwand, President of Naples Realty Services.

Every market category showed sale increases in both pending and closed sales with the largest increase in the $1 million and above categories.

"Closed sales in the $2 million and above luxury market increased 12 percent with 223 sales in 2011 compared to 199 sales in 2010," said Bill Poteet, 2012 NABOR President and President of Poteet Properties. "The traditional market has become a large percentage of our total market share (66 percent) as the number of short sale and foreclosure sales diminishes."

The 2011 report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. An overall summary combines the statistics for both single family and condominium properties. The statistics are presented in chart format, along with the following statistics:

¨      Single family pending sales increased 5 percent with 5,162 contracts in 2011 compared to 4,896 contracts in 2010.

¨      Condo pending sales increased 11 percent with 4,908 contracts in 2010 compared to 4,422 contracts in 2010.

¨      The overall median closed price over $300,000 increased 2 percent to $550,000 in 2011 from $540,000 in 2010.

The 2011 fourth quarter report showed overall pending sales for the 12 months ending December 2011 increased 8 percent to 10,071contracts compared to 9,319 contracts for the same 12 months of 2010.

¨      Overall closed sales in the $1 million to $2 million category increased 38 percent with 76 sales in the fourth quarter of 2011 compared to 55 sales in the fourth quarter of 2010.

¨      Single-family home sales in the $500,000 to $1 million price range increased 13 percent with 90 sales in the fourth quarter of 2011 compared to 80 sales in the fourth quarter of 2010.

¨      Condo sales declined 2 percent to 793 sales in the fourth quarter of 2011 compared to 808 sales in the same quarter of 2010.              Find all MLS Naples Property Listings:  http://www.TourNaplesRealEstate.com

 

Builder's Confidence Rising...

WASHINGTON – Jan. 18, 2012 – Builder confidence in the market for newly built, single-family homes continued to climb for a fourth consecutive month in January, rising four points to 25 on the NAHB/Wells Fargo Housing Market Index (HMI). It’s the HMI’s highest level since June 2007.

“Builder confidence has now risen four months in a row, with the latest uptick being universally represented across every index component and region,” says Bob Nielsen, chairman of the National Association of Home Builders (NAHB). “Policymakers must now take every precaution to avoid derailing this nascent recovery.”

Each of the HMI’s three component indexes registered a fourth consecutive month of improvement in January. The component gauging current sales conditions rose three points to 25, which was its highest point since June 2007. The component gauging sales expectations in the next six months also rose three points, to 29 – its highest point since September 2009. And the component gauging traffic of prospective buyers rose three points to 21, its highest point since June 2007.

The HMI also posted gains in all four regions in January, including a nine-point gain to 23 in the Northeast, a one-point gain to 24 in the Midwest, a two-point gain to 27 in the South and a five-point gain to 21 in the West.

“Builders are seeing greater interest among potential buyers as employment and consumer confidence slowly improve in a growing number of markets,” says NAHB Chief Economist David Crowe. “That said, caution remains the word of the day as many builders continue to voice concerns about potential clients being unable to qualify for an affordable mortgage, appraisals coming through below construction cost, and the continuing flow of foreclosed properties hitting the market.”

Derived from a monthly survey NAHB has conducted for more than 20 years, the NAHB/Wells Fargo Housing Market Index gauges builder perceptions of current single-family home sales and sales expectations for the next six months as “good,” “fair” or “poor.” The survey also asks builders to rate traffic of prospective buyers as “high to very high,” “average” or “low to very low.” Scores from each component are then used to calculate a seasonally adjusted index where any number over 50 indicates that more builders view conditions as good than poor.

© 2012 Florida Realtors®

Leading U.S. Economists: Florida's housing market bouncing back

ORLANDO, Fla. – Dec. 7, 2011 – Despite national and global headwinds, Florida’s real estate market is entering 2012 on an upward trend, according to three leading U.S. economists.

“Our state is in a mini-recovery,” said Florida Realtors® Chief Economist Dr. John Tuccillo at the state association’s 2012 Real Estate and Economic Forecast Conference in Orlando. “Sales are trending up, listing inventories are falling, the supply of lender-related properties has stabilized, and we are seeing multiple offers on homes in some local markets.”

In fact, Florida homes today may be undervalued, Tuccillo added. “That may seem like a drastic statement,” he said. “But a buyer who plans to own the home for five to seven years can get some great bargains today.”

Mark Vitner, senior economist at Wells Fargo in Charlotte, N.C., said the U.S. economy will continue to face significant challenges, particularly financial concerns related to the European debt crisis. But he expects the U.S. economic recovery will continue next year, making it easier for Midwesterners, for example, to buy Florida homes.

“Florida’s economy is recovering, with tourism and healthcare leading the way,” Vitner said. “International tourism has been particularly strong in Miami and Orlando.”

Looking around the state, Vitner said Jacksonville’s unemployment rate has dropped and home prices are stabilizing. In Orlando, prices have not yet reached bottom, he said, but the winter tourism season should help the regional economy. Tampa and Southwest Florida have seen solid job growth, with little new home construction.

South Florida’s economy is growing thanks to trade relationships with Latin America and the Caribbean, while in the Panhandle, Fort Walton Beach is outperforming Panama City and Pensacola, according to Vitner.

Dr. Lawrence Yun, chief economist for the National Association of Realtors®, said many Florida markets are showing sharp drops in inventories of homes for sale – a sign that demand is picking up and prices are stabilizing. “That’s a major change from just a year ago,” he said. “Buyers have stepped back into the Florida market.”

Noting the state’s powerful appeal to international buyers, Yun said he was particularly optimistic about the outlook for South Florida. “Don’t be surprised to see a gain in home prices in the Miami and Naples markets in the next 18 months,” he said. “From there, the recovery is likely to roll northward to Central Florida and then North Florida.”

Tuccillo noted that foreclosed and distressed properties will remain a significant part of the Florida market in 2012, but lenders are feeding these properties into the market at a gradual pace rather than pushing them out all at once.

The event also featured a panel of Florida real estate professionals, who discussed the 2012 outlook for several sectors of the state’s real estate market from a practitioner’s point of view. Panelists were Clark Toole, president and COO, Coldwell Banker Residential Real Estate Inc. in Florida, discussing residential real estate; Cynthia Shelton, 2009 president of Florida Realtors and a director at Colliers International in Orlando, discussing the commercial market; and Dean Saunders, accredited land consultant and broker-owner of Coldwell Banker Commercial Saunders Real Estate in Lakeland, covering the market for land and undeveloped property.

Florida Realtors real estate and economic summit was webcast to 32 local association or satellite sites around Florida. “Turnout was high for our statewide event,” said 2011 Florida Realtors President Patricia Fitzgerald, manager/broker-associate with Illustrated Properties in Hobe Sound and Mariner Sands Country Club in Stuart. “We hope to hold more of these forums on a regular basis – sharing knowledge of market trends is a powerful way for our Realtor members to connect with buyers and sellers.”

A PDF of PowerPoint slides used during the 2012 Real Estate and Economic Forecast Conference is available on the floridarealtors.org research page.
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10 Cities Where List Prices Are Rising the Most

10 Cities Where List Prices Are Rising the Most

Daily Real Estate News | Wednesday, November 02, 2011

Which cities are seeing median list prices increase the most? Nationally, median list prices have risen 1.60 percent to $190,000, according to year-over-year listing data from September 2011 by Realtor.com, based on 146 markets.

Yet, in some cities, median list prices in that time frame have risen more than 20 percent. Florida cities, in particular, are continuing to see some of the largest rebounds in list prices. 

Here are the 10 cities that have seen the largest percentage increases in median list prices based on year-over-year data from September: 

1. Fort Myers-Cape Coral, Fla. 

Year-over-year median list price increase: 34.46% 

Median list price: $215,000

2. Miami, Fla. 

Year-over-year median list price increase: 25.63% 

Median list price: $250,000

3. Naples, Fla.

Year-over-year median list price increase: 23.41% 

Median list price: $369,000

4. Sarasota-Bradenton, Fla.

Year-over-year median list price increase: 16.53%

Median list price: $233,000

5. Punta Gorda, Fla.

Year-over-year median list price increase: 14.07%

Median list price: $169,000

6. Shreveport-Bossier City, La. 

Year-over-year median list price increase: 12.22% 

Median list price: $176,750

7. Lakeland-Winter Haven, Fla.

Year-over-year median list price increase: 11.93% 

Median list price: $129,500

8. Fort Wayne, Ind. 

Year-over-year median list price increase: 11.77%

Median list price: $112,000

9. Daytona Beach, Fla.

Year-over-year median list price increase: 11.32% 

Median list price: $178,000

10. Boise City, Idaho 

Year-over-year median list price increase: 10.58% 

Median list price: $150,000

By Melissa Dittmann Tracey, REALTOR® Magazine Daily News

Baby Boomers delay selling, but desire second homes

CHICAGO – Oct. 13, 2011 – The fragile economy is causing more baby boomers to delay selling their homes, even though they want to, according to a new survey from Coldwell Banker Real Estate, which surveyed about 1,300 agents to gauge home selling and buying behavior among the baby boomer generation.

However, there is still a strong desire for investment properties and second homes among this generation.

“The baby boomer generation has driven the U.S. economy for years, and like many Americans, they may be anxious about their next real estate decision,” Jim Gillespie, CEO of Coldwell Banker Real Estate, said in a statement. “I know baby boomers are a very diverse group and cannot be described in generalities, but our survey clearly indicates that boomers who are financially secure are actively seeking to buy their retirement home, or a second home.”

Among the survey’s findings:

• More than one-third (34 percent) of real estate professionals say younger baby boomers (those aged 47-55) are interested in purchasing a second home. Meanwhile, about 22 percent of older baby boomers (ages 56-64) are interested in buying a second home.

• 31 percent of younger baby boomers (47-55) are looking to sell their current home and trade up to a larger home, while only 6 percent of older baby boomers desire a larger home. For the majority of baby boomers looking to downsize, their primary reason is for a simpler lifestyle.

Source: Melissa Dittmann Tracey, Realtor® Magazine Daily News

© 2011 Florida Realtors®

Naples Fl Real Estate

REAL ESTATE MARKET KEEPS IMPROVING
 
Report Shows Downward Trend in Inventory Continues
NAPLES, Fla.-September 16, 2011- The Naples Area real estate market is strong as shown by inventory that continues to drop and the overall median closed price stabilizing, according to a report released by the Naples Area Board of REALTORS® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island).

The number of available properties decreased 21 percent from 8,745 in August 2010 to 6,930 in August 2011. "The overall inventory continues to decrease and is currently at its lowest level since we started tracking inventory in January 2007," said Brenda Fioretti, NABOR President and Managing Broker of Prudential Florida Realty.

"The decrease in inventory covers all property types; single-family home inventory decreased 22 percent and condo inventory decreased 20 percent in August 2011," said Phil Wood, President of John R. Wood REALTORS®.

For the 12 months ending August 2011, the overall median closed price for properties over $300,000 increased two percent to $550,000 up from $540,000 for the 12 months ending August 2010.

"Single-family homes showed positive gains in the median closed price for the 12 months ending August 2011, with a four percent increase compared to the same 12 months in 2010," said Bill Poteet, President of Poteet Properties.

The report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. The statistics are presented in chart format, along with the following analysis:

¨ Overall pending sales for the 12 months ending August 2011 increased 5 percent with 10,107 contracts compared to 9,607 contracts for the 12 months ending August 2010.

¨ Single-family home pending sales increased 5 percent in August 2011 with 457 contracts compared to 436 contracts in August 2010.

¨ Condo pending sales for the 12 months ending August 2011 increased 12 percent with 4,880 contracts compared to 4,371 contracts for the 12 months ending August 2010.

According to Wes Kunkle, President of Kunkle Realty, "The number of foreclosure sales decreased 50 percent from 179 sales in August 2010 compared to 88 sales in August 2011."

"As the number of foreclosed home sales declined to only 88 transactions, short sales jumped 40 percent from 99 closings in July to 140 in August," said John Steinwand, President of Naples Realty Services.

Short Sales and Slow Payments Can Ruin Your Credit Score

How to Wreck Your Credit Score  by Karen Blumenthal
Tuesday, May 24, 2011  


  

Don't underestimate the harm that even one missed mortgage payment can do to your credit score -- especially if you had good credit to begin with. 

The severe consequences underscore that you shouldn't shrug off even an accidentally missed payment. Instead, you should pay it and call the lender right away, begging for forgiveness before it mars your credit record. 

In an unusually specific commentary to lenders, Fair Isaac (NYSE: FICO - News), the creator of the FICO score, recently spelled out the severe consequences to the credit scores of borrowers who are 30 days late on their mortgages -- as well as the long-term impact of failing to repay the whole mortgage. 

It isn't a pretty picture.

Being 30 days late on a house payment -- even if it is an accident -- can knock 100 points off a pristine 780 credit score, moving you from qualifying for the very best interest rates to the edge of subprime territory.

The actual numerical drop is less severe if your starting credit score is 720 or 680, but the impact is greater, since your new score is likely to sink to a level where new credit is hard to get and very expensive.

The FICO score ranges from a low of 300 to 850, with scores of about 750 or higher generally qualifying for the best loan terms.

The details provide a warning for anyone whose home is way underwater and is tempted to simply walk away, or considering a "short sale." That is when the sale price is less than the amount you owe and the borrower doesn't make up the difference. More than 350,000 homes have been sold this way since 2008, according to the Office of the Comptroller of the Currency.

FICO officials usually dodge questions about the specific impact of actions on scores. But Joanne Gaskin, director of FICO mortgage markets, compiled the data partly to counter incorrect information, such as recommendations that people stop paying their mortgages so they can negotiate with a lender, she says.

FICO says a foreclosure or short sale where the size of the unpaid balance is reported are equally devastating to a good or excellent credit score, reducing it by as much as 150 points, to the high 500s or low 600s. A rarer "deed in lieu of foreclosure" -- in which the borrower voluntarily transfers ownership of the home to the lender -- may have less impact on an excellent score.

Recovering your original score takes about seven years. That also is how long the information stays on your credit report, where insurers and potential employers can see it. Returning to a mediocre 680 score may take only three years.

Here are some other lessons from the data:

• Your past behavior counts, but your current behavior matters more.

Credit scores are intended to measure the risk that you won't repay a current or future debt. So your careful payments over many years translate into a higher starting score.

But your score takes the biggest hit of all when you are 30 days late on a payment, falling 70 to 100 points in the FICO example. It drops less when you are 90 days late and if you default. The reason? The first missed payment "captures a good deal of the risk of the consumer," Ms. Gaskin says.

• The best way to rebuild a damaged credit score, ironically, is to use credit.

Avoiding borrowing altogether means "you've frozen your credit history in a negative state," says Maxine Sweet, vice president of public education for credit bureau Experian. You will be better off using a credit card judiciously and paying it off promptly, adding good-behavior points to your record.

• A rotten score hurts more than you think.

A person with a 620 score would pay almost 12% interest on a four-year $25,000 car loan, compared with less than 5% for someone with a 780 score -- a difference of almost $4,000 over the life of the loan. On a 30-year fixed-rate $250,000 mortgage, a person with a 620 score might qualify for a 6% rate, but probably wouldn't be able to get mortgage insurance, which is required if your down payment less than 20%. A person with excellent credit might land a rate less than 5% and pay about $3,000 a year less.

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Pending Sales Up Again- Could 2011 be the Start of a Real Estate Turn Around?

WASHINGTON – Jan. 27, 2011 – Pending home sales improved further in December, marking the fifth gain in the past six months, according to the National Association of Realtors® (NAR).

The Pending Home Sales Index (PHSI), a forward-looking indicator, increased 2 percent to 93.7 based on contracts signed in December from a downwardly revised 91.9 in November. The index is 4.2 percent below the 97.8 mark in December 2009. The data reflects contracts and not closings, which normally occur with a lag time of one or two months.

“Modest gains in the labor market and the improving economy are creating a more favorable backdrop for buyers, allowing them to take advantage of excellent housing affordability conditions,” says Lawrence Yun, NAR chief economist. “Mortgage rates should rise only modestly in the months ahead, so we’ll continue to see a favorable environment for buyers with good credit.

“In the past two years, homebuyers have been very successful, with super-low loan default rates, partly because of stable home prices during that time. That trend is likely to continue in 2011 as long as there is sufficient demand to absorb inventory,” Yun said. “The latest pending sales gain suggests activity is very close to a sustainable, healthy volume of a mid-5 million total annual home sales. However, sales above 6 million, as occurred during the bubble years, is highly unlikely this year.”

The PHSI in the Northeast increased 1.8 percent to 73.9 in December but is 5.3 percent below December 2009. In the Midwest, the index rose 8.0 percent in December to 84.6 but is 5.1 percent below a year ago.

Pending home sales in the South jumped 11.5 percent to an index of 101.9 and are 1.7 percent above December 2009. In the West, the index fell 13.2 percent to 105.8 and is 10.7 percent below a year ago.

© 2011 Florida Realtors®

Florida Existing Condo Sales Rise in November

ORLANDO, Fla. – Jan. 3, 2011 – Sales of existing condominiums in Florida rose 11 percent in November, with a total of 5,411 condos sold statewide compared to 4,860 units sold in November 2009, according to the latest housing data released by Florida Realtors®.

The statewide existing condo median sales price was $88,200; in November 2009, it was $104,500 for a 16 percent decrease year to year. However, November’s statewide existing condo median price was, month-to-month, 7 percent higher than the statewide existing condo median of $82,400 in October.

Meanwhile, in the year-to-year comparison for existing home sales, a total of 11,900 single-family existing homes sold statewide in November compared to 13,961 homes sold in November 2009 for a decrease of 15 percent.

Florida’s median existing-home sales price in November was $132,700; a year earlier, it was $139,300 for a decrease of 5 percent. The median is the midpoint; half the homes sold for more, half for less.

In a separate report, the U.S. Commerce Dept. announced that sales of newly built, single-family homes increased 5.5 percent to a seasonally adjusted annual rate of 290,000 units in November. The gain represents a partial bounce-back from a near-record low, downwardly revised number of new-home sales in October.

The November improvement in new-home sales was driven by gains in two regions. The South, which is the nation’s largest housing market, posted a 5.8 percent gain, while the West showed a 37.3 percent rebound from the previous month. Meanwhile, declines of 26.7 percent and 13.2 percent were registered in the Northeast and Midwest, respectively.

The inventory of new homes for sale fell to 197,000 units in November, marking the first time in 42 years that this measure has fallen below the 200,000 level. This amounts to an 8.2-month supply at the current sales pace.

 © 2011 Florida Realtors®

NAPLES HOUSING MARKET WEATHERS PERFECT STORM (Click Full Screen)

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Report Shows Median Closed Price Stabilizing
   
NAPLES, Fla.-October 15, 2010- The Naples area housing market shows stability despite the ending of the homebuyer tax credit, financing challenges and the news of the oil spill in North Florida, according to a report released by the Naples Area Board of REALTORS® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island).
"Our inventory is at a historical low as we enter season despite the news of the oil spill in the media and the financing and appraisal challenges right now," stated Michele Harrison, REALTOR® with John R. Wood REALTORS®. The available inventory decreased four percent to 8,800 properties in the third quarter of 2010 compared to 9,209 properties in the third quarter of 2009.
According to Steve Barker, Managing Broker of Amerivest Realty, "The fact that pending sales decreased in the third quarter but increased 20 percent for the 12 months ending September 2010 indicates that buyers may have brought forward their purchases to get the homebuyer tax credit. This resulted in the number of pending sales decreasing for the quarter."
"While overall pending sales decreased slightly this quarter, this is only the second time in five years that we have seen over 2,000 contracts go pending in the third quarter," stated Mike Hughes, NABOR Media Relations Director, and Vice-President of Downing-Frye Realty.
The third quarter report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. The statistics are presented in chart format, along with the following analysis:
Overall pending sales saw a 2 percent decrease, with 2,090 contracts in the third quarter of 2010 compared to 2,129 contracts in the third quarter of 2009. Overall pending sales for the 12 months ending September 2010 increased 20 percent with 9,419 sales compared to 7,881 sales for the 12 months ending September 2009.
Single-family overall closed sales decreased 13 percent with 891 sales in the third quarter of 2010 compared to 1,030 sales in the third quarter of 2009. Single-family overall closed sales for the 12 months ending September increased 19 percent with 4,137 sales in the third quarter of 2010 compared to 3,483 sales in the third quarter of 2009.
Condo sales showed no change in pending sales in the third quarter of 2010. For the 12 months ending September 2010, overall condo closed sales increased 45 percent to 3,996 sales compared to 2,749 sales for the 12 months ending September 2009.
The overall median closed price decreased 3 percent in the third quarter of 2010, to $170,000, down $6,000 from the $176,000 registered in the third quarter of 2009. The drop was confined to the $300,000 and under price segment. Excluding properties in that segment, the third quarter 2010 data reveals an across the board jump in each of the other price segments. The end of third quarter 2010 shows an overall price increase of $48,000 for properties closed from $300,000 to 2 million, to $567,000 versus $519,000 one year ago.
The September report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. The statistics are presented in chart format, along with the following analysis:
Overall pending sales increased 11 percent to 764 contracts in September 2010 compared to 688 in September 2009.

Single-family pending sales increased 5 percent with 426 contracts compared to 407 contracts in September 2009. For the 12 months ending September 2010 single-family closed sales increased 14 percent with 4,084 sales compared to 3,579 sales for the same 12 months last year.
Condo pending sales increased 20 percent with 338 contracts in September 2010 compared to 281 contracts in September 2009.
"I believe trends are better measured by 12 month comparisons. The data as of September 2010 places the overall median closed price at $182,000, up 1 percent from September 2009. Exclusion of the $300,000 and under segment reveals a 2 percent increase over September 2009 to $540,000. These numbers are significant, considering the major problems faced by our marketplace during the past 12 months, said John Steinwand, President of Naples Realty Services.