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July 20, 2010
Posted July 20th, 2010 at 8:00 pm by Michele Harrison
The numbers are in, and it has been another strong quarter for Collier County real estate! Across all price levels, we saw almost a 20% total increase in closed sales compared to the second quarter of 2009 along with an increase in total pending sales up 8%. Inventory levels overall fell by 9% compared to second quarter 2009, and we saw a 10% increase in median close price for the $300,000 and below price range which is a welcome change.
A few points of interest by price point on the quarterly numbers include:
- $0-$300K – a 22% increase in the median closing price for single family homes jumping from 115 in 2009 to 140 in 2010 and condo closings up 30% compared to the same time last year.
- $300K-$500K – single family closings at a 31% increase over 2009 and an inventory decrease of 17% moving from 935 to 796. The condo market saw a 32% decrease in inventory levels and was the only category that saw a major decline in days on the market coming in at 190 for 2010 compared to 235 for 2009.
- $500-$1M – almost double the average increase in single family closings at 51% coupled with a decrease in inventory levels of 16%. The condo market saw a 29% increase in closings and inventory reductions at a 26% decline.
- $1M-$2M – a 61% increase in single family pending sales and a 60% increase in closed sales. The condo market saw a 31% increase in closings and a 21% reduction in inventory levels.
- $2M+ market – a 30% increase in single family pending sales, an 11% increase in closings, and the highest decrease in both inventory levels (29%) and days on the market (27%). Pending condo sales nearly tripled the average increase at 59%, and had the best decrease in inventory at 36%.
Clearly, it is safe to say that Collier County’s real estate market is in recovery!
To view the full report, go to http://nabor.com/zzdwnlds/news/July_16_2010_Press_Release.pdf
To view statistics, go to http://nabor.com/zzdwnlds/news/2nd_Quarter_Statistics.pdf
Categories: 55+ Living, Naples Home Market
Tags: 2010, closed sales, Collier County, condo, condo closings, days on the market, FL, Florida, increase in closings, increase in pending sales, inventory decrease, inventory levels, inventory reductions, median close price, Naples, pending sales, real estate, recovery, second quarter, single-family homes, statistics —
July 16, 2010
Posted July 16th, 2010 at 5:36 pm by Michele Harrison
For those of you that haven’t seen it yet, the Naples Daily News has started to showcase recently sold properties in Collier County on its website for Realtors for free! They announced earlier this week that they have begun to feature recently sold single-family homes for both Collier and south Lee counties where viewers get a chance to see a set of property images along with pertinent details of the sales.
As a Realtor myself, these types of complimentary marketing efforts are greatly appreciated! So, in lieu of the Naples Daily News helping out the Realty community, I thought I would spread the word about this feature on their site. They have even stated that they will be selecting a few photos each week to publish in Sunday’s Daily News Real Estate section and possibly other community publications as space allows.
The article I read said each feature would include, “an exterior photo of the home, address, selling price, Realtor, square footage or general description. Example: NAPLES — Jane Doe of Smith & Company sold this three-bedroom, two-and-a-half-bath home at 501 14th Avenue South, Aqualane Shores. It sold in 327 days for $565,000.”
Yet another form of “spreading the love” in our wonderful SWFL community!
June 22, 2010
Posted June 22nd, 2010 at 8:11 pm by Michele Harrison
The May report is in…Naples total sales increased at least 47%!!!
According to the report, “The increase in sales ranged from 33 percent in East Naples to 56 percent in South Naples.” And, as I mentioned in the report, the median close price has continued to level out since Septmber 2009 with the closed price coming in at $190,000 for May. That is a 9% increase over May 2009.
A few other notable points:
- Pending sales for single-family homes increased to 477 contracts in May 2010 compared to 433 contracts in May 2009.
- Overall condo sales increased 25 percent - 398 sales in May 2010 compared to 318 sales in May 2009.
- Condo sales in the under $300,000 category increased 69 percent with 3,573 contracts in May 2010 compared to 2,117 contracts in May 2009.
- Available inventory decreased 10 percent with 9,006 units in May 2010 compared to 10,046 in May 2009
For the complete report visit www.Naplesarea.com
Categories: 55+ Living, Naples Home Market
Tags: condo sales, East Naples, increase in sales, May, median close price, Naples real estate report, NaplesArea.com, pending home sales, single-family homes, South Naples —
May 19, 2010
Posted May 19th, 2010 at 10:50 pm by Michele Harrison
Just a quick update for everyone on the state of the real estate market in Collier County as of 4/30/10.
According to the Naples Area Board of Realtors site…
- The overall median closed price increased 22 percent from $170,000 in April 2009 to $208,000 in April 2010. This is the second consecutive month that the median closed price has increased. For properties over $300,000, the median price increased 3 percent from $534,000 in April 2009 to $550,000 in April 2010.
- Overall home sales increased 46 percent to 914 sales in April 2010 compared to 626 sales in April 2009. Properties under $300,000 saw a 25 percent increase in pending sales with 882 contracts in April 2010 compared to 706 contracts in April 2009.
- Single-family pending sales saw a 27 percent increase with 691 contracts in April 2010 compared to 544 contracts in April 2009.
- Condo sales saw a 69 percent increase with 507 sales in April 2010 compared to 300 sales in April 2009.
- The available inventory decreased 13 percent to 9,239 in April 2010 compared to 10,574 in the same month last year
To see the full report and statistics go to www.naplesarea.com
April 21, 2010
Posted April 21st, 2010 at 10:20 pm by Michele Harrison
Things are looking very good in the real estate market in Collier County! Coming off of the first quarter, we are seeing a rise in sales, a decrease in inventory, and more showings than we have had in a very long time.
A few things to note:
- There were 1,981 closed sales from January to March, which is a 45 percent increase in sales over the same period last year.
- There was a major increase in sales at the higher-end of the market. Pending sales in the $1 million to $2 million range increased 100 percent with 146 contracts compared to 73 for the same period in 2009. There were also 95 contracts on homes in the $2 million+ range, which was a 56 percent increase over the same period last year.
- A majority of sales were in the under $300,000 price range with most of them being foreclosures and short sales. There were 1,393 sales in this range, which was up 40 percent over a year ago with another 2,315 homes in going under contract.
- We also saw a rise in condo sales with 1,012 closings this quarter, which was up 60 percent over the same period last year. Another 1,679 condos moved into a pending status, which is a 75 percent increase from a year ago.
Clearly, things are moving along nicely, and the real estate market in Collier is positioned to have a very bright future!
March 12, 2010
Posted March 12th, 2010 at 7:12 pm by Michele Harrison
NABOR (Naples Area Board of REALTORS®) released its February report today, and it is extremely positive for the Collier County (excluding Marco Island) real estate market! The report shows that closings were up 50% last month with a 15% decline in overall inventory levels.
Many notable Southwest Florida real estate experts are quoted in the report speaking to the positive signs they each are seeing in the different market types related to real estate sales, pricing and inventory levels.
A few noteworthy points made in the report include:
- “Overall pending sales increased 62 percent with 1,122 contracts in February 2010 compared to 691 contracts in 2009. Properties under $300,000 saw a 54 percent increase in pending sales with 774 contracts in February 2010 compared to 501 contracts in February 2009.”
- “Single-family pending sales increased 51 percent with 578 contracts in February 2010 compared to 382 contracts in February 2009.”
- “Overall condo sales increased 44 percent with 270 sales in February 2010 compared to 188 sales in February 2009.”
There is no denying the positive change in real estate anymore…thank gosh! We are quickly making our way back to a more normal and balanced real estate environment.
To view the entire report, go to http://www.NaplesArea.com.
To view the statistics behind the report, go to http://nabor.com/zzdwnlds/news/market_statistics.pdf
Categories: 55+ Living, Naples Home Market
Tags: closings, Collier County, condo sales, contracts, inventory levels, NABOR, Naples Area Board of REALTORS, pending sales, pricing, real estate market, single-family pending sales, Southwest Florida, statistics —
February 26, 2010
Posted February 26th, 2010 at 11:13 am by Michele Harrison
For those of you that missed the recently released report by NABOR (Naples Area Board of REALTORS®) it stated that overall home sales increased 51% compared to a year ago! While many people are still finding it tough out there, we are truly beginning to see positive signs from a real estate market perspective…thank gosh!
The report notes comments from many key players within the real estate community that consistently agree that sales across the board are up. They are seeing increases in all price levels and in all geographic locations. They have even seen forward movement in the condo market, which has not been the case in years.
A few noteworthy points made in the report include:
- “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.”
While things aren’t going to return to the price levels we saw a few years back anytime soon, at least we have made it to the recovery! Now, we must help our community to regain momentum and move forward.
If you would like to view the entire report, go to http://www.NaplesArea.com.
Categories: Naples Home Market, National Real Estate Market
Tags: 2010, condo market, condo sales, home sales, NABOR, Naples Area Board of REALTORS, NaplesArea.com, pending sales, real estate market, single-family pending sales —
February 11, 2010
Posted February 11th, 2010 at 3:23 am by Michele Harrison
 Giving my presentation...
I had a great week last week! I started the week with a presentation to about 125 people at the beautiful Bear’s Paw Country Club, got to spend some quality time with some friends in the middle of the week, and finished out the weekend relaxing with my husband on the water! It doesn’t get much better than that!
For those of you that didn’t know I made a sales presentation to the members of the Bear’s Paw Country Club last week as they are looking to position and price themselves correctly in today’s market. After running analyses and checking out the competition, I presented the members with an idea of how to not only price their homes appropriately, but also how important it was for the group to work together to market the community at large along with their individual homes to drive the right amount of foot traffic. You can never underestimate the importance of effective marketing when it comes to sales. The other key point that I made was to go over the importance of staging the homes the right way in order to allow potential buyers to see themselves actually living in the space. This is one of those items that many people either overlook or don’t want to deal with since it may mean spending a little money, but I can’t stress enough how much easier and faster it usually makes for the sale.
If you happen to be in the market for a home, I would recommend giving me a call to hear more about the Bear’s Paw Country Club community. They are taking the right steps to reposition themselves to let everyone know about their great private location, beautiful natural preserve, signature golf course designed by Jack Nicklaus, and their ongoing member activities. I truly enjoyed taking part in this presentation and seeing how proud the members are of this exclusive and beautiful community!
December 28, 2009
Posted December 28th, 2009 at 9:57 pm by Michele Harrison
A few days ago I was talking on the phone with a friend regarding international destinations and business centers throughout the country. We both happen to be taking part in initiatives in our respective cities focused on international programs, and I couldn’t help but take such pride in the fact that Naples, Florida has become a top destination for people from many countries around the world. We have definitely always had travelers coming from specific countries like England and Germany to enjoy our white sandy beaches, beautiful waterways, and high-end dining and shops, but during the last five to ten years we have really grown our international base to include many more home owners and vacationers from other countries around the world.
Personally, I think the international presence here is great for our city and region from both an economic and a social standpoint. Most recently our area has benefited from the exchange rate situation enabling our foreign friends to purchase real estate that might otherwise not have sold in our depressed economy. As the international reach of our city’s popularity has grown, we have been able to continue welcoming new international homeowners as our sources of wealth from around the world have become more diversified.
We have also seen an increase in international vacationers to the region helping to raise our hotel occupancy rates, our bed taxes, and our service sector businesses. This international influence has enabled our city to grow from a social and cultural standpoint as well with additional international flare added to our cuisine offerings, our fashion boutiques, and even our world-class arts scene at the Naples Philharmonic Center and other local theaters, galleries and stages. Naples has definitely done a great job welcoming our international friends.
I hope we always remain the sophisticated and classy tropical paradise that the international community enjoys.
Categories: 55+ Living, Naples Home Market, Naples News
Tags: bed taxes, business centers, England, Florida, Germany, high-end dining, high-end shops, hotel occupancy rates, International destination, Naples, Naples Philharmonic Center, real estate, tropical paradise, waterways, white sandy beaches —
December 20, 2009
Posted December 20th, 2009 at 12:18 am by Michele Harrison
I am very excited to pass along some uplifting news released this month by the National Association of Realtors® (NAR) showing an increase in pending home sales for nine months in a row! In fact, this is the first time this has ever happened since the inauguration of the Pending Home Index in 2001.
For those that aren’t familiar with the Index, it is based on a national sampling of pending sales for existing homes. Research has proven that signed contracts mirror actual closings within a 30 to 60 days time frame, so reporting on pending sales as opposed to closed sales has been accepted as the standard. They do report both month-to-month and year-to-date percentages, but in my opinion the year over year figures are much more telling of the actual trends that are occurring. And, as of October 2009 there was a 31.8% increase over October 2008 representing the largest annual increase ever!
Lawrence Yun, the chief economist for NAR, has stated that while we may see a small dip month over month in closed sales as the “pendulum” swings back between now and Spring time, we should reach “self-sustaining housing conditions and firming home prices in most areas around the middle of 2010.”₁ Is this good news or what? The prediction is that we will see at least a 20% increase in home sales by the middle of 2010, with an increase in median home values somewhere between 2-4%. Of course, the extension on the deadline for the tax credit for first-time home buyers will be beneficial for this as it enables an additional 2.6 million households to qualify for the credit on top of the 1.8 million already qualified through the fourth quarter of this year.
With the increase in the numbers above coupled with the fact that interest rates on mortgages are certain to rise, those of us in the residential real estate profession should be gearing up for an exciting year! There is no doubt that we have definitely been tested over the last few years, but we are finally beginning to see some relief and we need to be ready for it. Of course, it doesn’t hurt that we live in one of the most beautiful places in the country here in Southwest Florida!
Stay tuned for the release of the November home sales coming out in the next few weeks followed by the release of the Index numbers for November in early January.
₁www.realtor.org
Categories: Naples Home Market, National Real Estate Market
Tags: home buyers, home values, interest rates, Lawrence Yun, mortgages, NAR, National Association of Realtors, Pending Home Index, pending home sales, Southwest Florida, tax credit —
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