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NAPLES AREA MID-PRICED HOMES SURGE 29 PERCENT

NAPLES AREA MID-PRICED HOMES SURGE 29 PERCENT
Pending sales of all single-family homes and condos increased

Naples, Fla. (Feb. 17, 2012) --   Pending home sales of Naples area mid-priced single-family homes and condos (between $300,000 and $ 1 million) surged 29 percent in January 2012, 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).

According to Phil Wood, President & CEO of John R. Wood Realtors, "Pending sales were very strong in January, plus some of the transactions were new development projects."

Naples Area Board of REALTORS® data shows that the overall market experienced 8,295 closed sales for the 12 months ending January 2012, a 5 percent increase over the 12-month period ending January 2011 (7,879 closed sales).

"The number of recent building projects indicates the belief, from many builders, that the market has turned the corner on new home construction," stated Brett Brown, Director of Sales at Fiddler's Creek Realty, Inc.

NABOR® data shows:  
  • Overall pending sales in the $300,000 to $500,000 category increased 34 percent from 115 in January 2011 to 154 in January 2012.  
  • Closed sales in the $1 million to $2 million category increased 13 percent from 336 to 379 for the 12- month period ending January 2012.
  • Inventory dropped 19 percent from 9,388 in January 2011 and remains at a low level with 7,860 available properties in January 2012.
  • Average days on the market (DOM) in the $500,000 to $1 million category decreased 10 percent from 213 in January 2011 to 192 in January 2012.
  • Overall sales of homes and condos between $1million and $2 million increased 53 percent, January 2012 compared to January 2011.

"The $500,000 to $1 million category has been historically a leading market indicator, and that category experienced a 23 percent rise in pending sales from 100 in January 2011 to 123 in January 2012, a positive sign," remarked Dr. Shelton Weeks, Director of the Lucas Institute for Real Estate Development & Finance at Florida Gulf Coast University.

"A good report from developers, along with positive comments of an overall healthy market, may bring more buyers off the side-lines," said Mike Hughes, General Manager of Downing-Fry Realty. "The strong activity in pending sales brings a sense of urgency that if they wait too long to make a purchase, the property may not be there."

"We are now seeing multiple buyers competing for the same property," said Brenda Fioretti, NABOR® Media Relations Committee Chairman and Managing Broker of Prudential Florida Realty.

To view current Naples area Inventory visit:  www.TourNaplesRealEstate.com

Strong Real Estate Sales Continue in Naples Market

THIRD QUARTER SALES ACTIVITY REMAINS STRONG
Naples Area Real Estate Transactions Released

NAPLES, Fla.-October 14, 2011- Real estate sales activity continues to increase with single-family home sales and the Naples Beach area is leading the way 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).

"Single-family pending sales in the $500,000 to $1 million price category increased 30 percent in the third quarter, and the average days a property was on the market decreased 11 percent. The sales activity is shifting from the low end market to higher priced properties," said Coco Waldenmayer, Managing Broker of Engel & Voelkers. In the third quarter of 2011 there are currently only 592 available single-family properties in the $500,000 to $1 million price category.

For the 12 months ending September 2011, all Naples geographic areas showed an increase in pending sales compared to the same 12 months in 2010. Properties in the Naples Beach area remain in the highest demand with 1,776 contracts for the 12 months ending September 2011 compared to 1,471 contracts for the 12 months ending September 2010.

"Overall pending sales in the Naples Beach area increased 21 percent for the 12 months ending September 2011, as consumers take advantage of the good values," said Bill Poteet, President of Poteet Properties.

"Prices in the Naples Beach area may be under pressure, however, sales activity continues to remain strong," said Steve Barker, Supporting Broker with Amerivest Realty. The Naples Beach area consists of zip codes 34102, 34103 and 34108.

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:

¨      For the 12 months ending September 2011 overall pending sales increased 11 percent with 10,036 contracts compared to 9,026 contracts for the 12 months ending September 2010.

¨      Condo sales increased 7 percent with 807 sales in the third quarter of 2011 compared to 752 sales in the third quarter of 2010.

¨      The available inventory decreased 20 percent to 7,069 available properties in the third quarter of 2011 down from 8,800 available properties in the third quarter of 2010.

"Traditional sales represent 60 percent of the sales activity in the Naples area. Foreclosure sales remain low and the number of short sale closings are increasing, this is a sign that banks are willing to work with homeowners," said Brenda Fioretti, NABOR President and Managing Broker of Prudential Florida Realty.

According to Kathy Zorn, Broker/Owner of Florida Home Realty, "Traditional sales continue an upward trend in our market as they have increased 26 percent from September 2011 to September 2010."

The report also provides a comparison of results for September 2011 to the same month, 2010, including 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 home sales in the $300,000 to $500,000 price category increased 27 percent with 70 sales in September 2011 compared to 55 sales in September 2010.

¨      Single-family pending sales in the Naples Beach area increased 15 percent for the 12 months ending September 2011 with 714 contracts compared to 621 contracts for the 12 months ending September 2010.

¨      Condo sales saw a 6 percent increase for the 12 months ending September 2011 with 4,192 sales compared to 3,966 sales for the 12 months ending September 2010.

Naples Real Estate Market Outperforming Rest of the Country

SINGLE FAMILY HOME MEDIAN CLOSED PRICE JUMPS SIX PERCENT

Report Shows Overall Inventory Declines 14 percent


NAPLES, Fla.-June 17 2011- Momentum is picking up and summer is emerging as a season of strong sales 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 overall available inventory decreased to 7,705 properties in May 2011 down from 9,006 properties in May 2010. “The decrease in inventory is having a positive effect on overall prices and is driving the median closed price up,” said Steve Barker, REALTOR® with Amerivest Realty.
The median closed price for single-family homes for the 12 months ending May 2011 increased 6 percent to $210,000 compared to $199,000 for the 12 months ending May 2010. The overall median closed price for single-family homes increased 15 percent to $242,000 in May 2011 compared to $210,000 in May 2010.
“With its strong market and rising prices, Naples is the exception to the two-thirds of the country experiencing real estate challenges, just as predicted by Dr. Lawrence Yun, Chief Economist of the National Association of REALTORS®,” said Phil Wood, President of John R. Wood REALTORS.
The May 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 8 percent in May 2011 with 955 contracts compared to 887 contracts in May 2010.
 Overall closed sales increased 4 percent in May 2011 with 838 sales compared to 803 sales in May 2010.
 Single-family home pending sales increased 8 percent in May 2011 with 515 contracts compared to 477 contracts in May 2010.
 Condo sales increased 9 percent with 450 sales in May 2011 compared to 412 sales in May 2010.
According to Brenda Fioretti, NABOR President, and Managing Broker of Prudential Florida Realty, “The increase in sales is found in the traditional market, not short sales or foreclosures which now make up less than 30 percent of the properties sold.”
“For the 12 months ending May 2011, condo sales increased 19 percent and the $1 million to $2 million category had an astounding increase of 164 percent, with 18 more units sold for the 12 months ending May 2011 than in the 12 months ending May 2010,” said John Steinwand, President of Naples Realty Services.

 

PENDING SALES UP 13 PERCENT

Naples Area Real Estate Transactions Released

NAPLES, Fla.-December 17, 2010- Home sales continue to increase in the Naples area 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).
In November, overall pending sales increased 13 percent while closed sales for the 12 months ending November 2010 grew 14 percent to 7,863 from 6,884 for the same 12 months last year.
"The 12 months ending statistics reveal year-to-year trends resulting in improved market conditions in pending sales, closed sales and median closed prices,"

Overall condo sales for the 12 months ending November 2010 continue to be strong. Closed sales are up 24 percent overall and in the $500,000 to $1 million price point, closed sales increased 31 percent,"
said Steve Barker, Managing Broker of Amerivest Realty.
"The summer sales reflected the oil spill in the Gulf, the end of the homebuyer tax credit, and the traditional slower season in Naples. We are now seeing sales increase as expected,"

We are coming to an end of a strong year in sales and are upbeat about the coming season,"
said Mike Hughes, Vice President of Downing-Frye Realty.

said Phil Wood, President of John R. Wood REALTORS®

.
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:
Single-family closed sales increased 6 percent with 3,975 sales for the 12 months ending November 2010 compared to 3,756 sales for the same 12 months last year. Single-family pending sales in the $1 to $2 million category increased 49 percent for the 12 months ending November 2010 with 263 contracts compared to 176 contracts for the 12 months ending November 2009.
Overall condo pending sales for the 12 months ending November 2010 increased 16 percent with 4,466 contracts compared to 3,849 contracts for the 12 months ending November 2009.
"
said John Steinwand, President of Naples Realty Services. Pending sales continue their strong trend. Overall pending sales for the 12 months ending November 2010 increased 7 percent. The median closed price for the 12 months ending November 2010 increased 3 percent for properties over $300,000. The median closed price in this price segment increased to $540,000 up from $525,000.
"

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The Naples Real Estate Market is Getting Hot

 STRONG START IN 2010

Report Shows Strong Condo Sales

NAPLES, Fla.-February 12, 2010- January home sales have increased 51 percent compared to a year ago, 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).

According to Tom Bringardner, President of Premier Properties, “Pending and closed sales are up in almost every price range and in every geographic area. The momentum we saw building in the last half of 2009 is continuing into 2010.” For the 12 months ending January 2010, overall pending sales increased 71 percent with 9,802 contracts compared to 5,744 contracts for the 12 months ending January 2009.

“The number of pending sales in the $500,000 to 1 million price range increased 165 percent in January 2010 compared to the same month last year,” stated Jo Carter, President of Jo Carter & Associates. “This upper price category showed the largest percent increase in pending sales when compared to all other price ranges.”

According to Joni Albert, Managing Broker of Coldwell Banker Residential, “The average days a property was on the market decreased 12 percent for single-family homes in the $300,000 to $500,000 price range. This decrease shows that sellers’ realistic price adjustments are contributing to the increased market activity.”

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 properties under $300,000 increased 81 percent with 718 contracts in January 2010 compared to 396 contracts in January 2009.

 

Single-family pending sales increased 61 percent with 511 contracts in January 2010 compared to 317 contracts in January 2009.

 

Overall condo sales increased 91 percent with 288 sales in January 2010 compared to 151 sales in January 2009.

 

The overall median closed price showed no price change in January 2010 and remained at $180,000 compared to January 2009.

 

Excluding the $300,000 and under segment, comprising a majority of foreclosure related property sales, the overall median price for the market declined only 4 percent from $552,000 in January 2009 to $530,000 in January 2010. The median refers to the middle value in a set of statistical values that are arranged in ascending or descending order, in this case prices at which homes were actually sold.

 

“The median closed price for properties under $300,000 increased 4 percent in January 2010 compared to January 2009. This is the first time in over two years that we have seen this category have a positive gain in the median closed price,” stated Bill Poteet, President of Poteet Properties.

“The overall available inventory in every price range continues to decline. This is good news,” stated Steve Barker, Managing Broker of Amerivest Realty. “The available inventory decreased 16 percent to 9,548 in January 2010 from 11,308 in January 2009.”

According to John Steinwand, President of Naples Realty Services, “The mid priced condominium market is showing a significant renewal of strength in the market place.” Pending sales in the $300,000

to $500,000 and $500,000 to 1 million price ranges increased 13 percent and 30 percent respectively, for the 12 months ending January 2010 compared to the 12 months ending January 2009. “The condo market is roaring back,” stated Steinwand.