Market Conditions in Naples>Question Details

Jenn LaGraffe, Real Estate Pro in Syracuse, NY

What is the current market like in Naples? I know things are rebounding...are values going up too?

Asked by Jenn LaGraffe, Syracuse, NY Mon Mar 18, 2013

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16
1 vote Thank Flag Link Thu Mar 28, 2013
Still hot...answered this question twice before...KathyBC 800-448-3411 ext 601...(3/24)
0 votes Thank Flag Link Sun Mar 24, 2013
I won't repeat what everyone else has already said... Please visit my site http://www.NaplesHomes.com
0 votes Thank Flag Link Thu Mar 21, 2013
The current market shows Florida’s housing market reported more closed sales, rising median prices, increased pending sales, more new listings and a reduced inventory of homes for sale in February, according to the latest housing data released today.

For the full report...
http://www.napleslisted.com/apps/blog/show/24936626-florida-…
0 votes Thank Flag Link Thu Mar 21, 2013
Question answered on 3/11...Call me for more updated stats...KathyBC 800-448-3411 ext 601...(3/20)
0 votes Thank Flag Link Wed Mar 20, 2013
NABOR: MEDIAN CLOSED PRICE UP 17 PERCENT

The overall median closed price for homes sold in Collier County jumped 17 percent—from $180,000 to $217,000—from February 2012 to February 2013, according to the Naples Area Board of Realtors http://(www.naplesarea.com), which tracks home listings and sales in the county, excluding Marco Island. Overall pending sales were up 5 percent for the same time period, including a 26-percent rise in the $1 million to $2 million category and a 23-percent uptick in the $2 million-plus category. Overall inventory was down 13 percent, which could ultimately mean a sales slowdown. “Changes in inventory at some point may become an issue," said Shelton Weeks, department chair of economics & finance at Florida Gulf Coast University. “Continued declines in inventory will produce some upward pressure on prices. However, as prices rise we should expect builders to bring more new units to the market which may slow the advance in prices.”





Information provided by Gulfshore Business Daily To subscribe, visit our Web site at http://www.gulfshorebusiness.com

0 votes Thank Flag Link Tue Mar 19, 2013
Hi Jenn,
Prices reached their peak in 2005, and gradually decreased over the past six years. In 2012, prices increased in specific areas, such as Olde Naples. As you know, there is a difference between value and price. Many properties on the market today offer the same value and amenities as they did in 2005; however, at a significant price reduction. Stabilized home prices and historically-low interest rates make 2013 an opportune time for Buyers to purchase property in Naples. Whether it is a Condominium starting at $300,000 or an Estate Home starting at $2,000,000, Naples offers outstanding real estate values for first-home buyers, retirees and investors. It would be a privilege for me to work with you on a referral basis. Call me anytime --239.537-1720
0 votes Thank Flag Link Tue Mar 19, 2013
Hi Jenn,
Yes they are! Both the appraisers and the Board Stats show that prices had stabilized a while back and are no longer dropping but instead are rising! There are still plenty of good deals with the continuance of Foreclosures and Short Sales, although with the rising market, these are being listed higher accordingly.
Vivian Ferreira
239-777-4731
vivian@southbayrealty.com
0 votes Thank Flag Link Mon Mar 18, 2013
Great answers below and recent board stats prove it. Inventory is diminishing another encouraging sign and multiple contracts are not unusual. DOM going down in all price ranges. However, still time to strick good values, because what's up next? KathyBC 800-448-3411 ext 601...(3/18)
0 votes Thank Flag Link Mon Mar 18, 2013
Dear Jenn, Thanks for your posting.Yes values are going up in many communities in Naples, however good buys are still available. If Naples is an area you are considering please feel free to
use our site: http://www.buysellhomesnaplesfl.com . You can search for homes easily there.
If you would like to talk to a person, feel free to contact me at 239-963-1262
Regards,
Steve Moller
Vanderbilt Realtors
Naples, FL 34109
0 votes Thank Flag Link Mon Mar 18, 2013
as far as I am informed about the Naples market, prices are going up.... not sure why you want to know
if you are interested in buying you need to connect with an experienced local Realtor and I can recommend one if you need a recommendation. Let me know.
Good Luck to you

Sincerely yours,
Edith YourRealtor4Life & Chicago, North Shore & Northern Illinois Expert
Working always in the very BEST interest of her clients, Buyers, Sellers and
Investors alike....And always with a SMILE :)

Covering for @Properties Chicago & suburbs, and with her trusted Partner
Agents US & world wide properties. French, German, some Spanish &more EdithSellsHomes@atproperties.com or EdithSellsHomes@gmail.com
Check out my website at http://tinyurl.com/YourRealtor4Life
Get to know me! Learn about my experience, expertise, services! Read letters
of recommendation! Sign up to search for properties in my expanded service area.
HAVE THE MOST WONDERFUL DAY :)
0 votes Thank Flag Link Mon Mar 18, 2013
Values have been going up for a while.....builders are building like crazy again....

jessemcgreevy@gmail.com
239-898-5329
http://www.Domain-RealtyGroup.com
0 votes Thank Flag Link Mon Mar 18, 2013
Information provided by Naples Area Board of Realtor's

2013 HOUSING MARKET STARTS STRONG


Naples, FL (February 15, 2013) - The housing market momentum established in 2012 is shown to be continuing in 2013 as home sales remain strong. The overall median closed price increased 16 percent, and the overall closed sales increased 10 percent for the 12-months ending January 2013, 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 market research demonstrated a steady demand for existing homes, and the new home market is doing well as indicated by a recent report from FGCU, which showed an increase in permits for Collier County," said Wes Kunkle, NABOR President and Managing Broker of Weichert, Realtors on the Gulf.

Kunkle continued, "NABOR has over 4,000 members who live and work in Collier County. Their efforts have helped create a strong housing market which benefits the overall local economy."

The NABOR® January report provides annual comparisons of single-family home and condominium sales (via the SunshineMLS), price ranges, and geographic segmentation and includes an Overall Market summary. The NABOR® January sales statistics are presented in chart format, with these overall (single-family and condominium units) specifics:

- The overall median closed price increased 16 percent from $179,000 at the end of January 2012 to $207,000 for the 12-month period ending January 2013.

- Overall pending sales increased 13 percent from 9,456 units to 10,681 units for the 12-month period ending January 2013. Overall pending sales increased 35 percent in the $300,000 to $500,000 category from 1,225 units to 1,652 units and 35 percent in the $500,000 to $1 million category, from 892 units to 1,200 units, and increased 22 percent in the $1 million to $2 million category, from 408 units to 497 units, respectively for the 12-month period ending January 2013.

- The average DOM (Days on the Market) decreased overall from 173 days in January 2012 to 161 days in January 2013.

- Overall pending sales in the Naples coastal area increased 36 percent from 1,555 units to 2,112 units, and closed sales increased 16 percent, from 1,638 units to 1,893 units, for the 12-month period ending January 2013.

"The strong performance in the housing market is consistent with improvements we are seeing in other aspects of the economy, especially the stock market," said Dr. Tim Allen, Professor and Alico Chair, FGCU. "The housing market is benefitting from the general economic improvement coupled with relatively low mortgage rates."

"Adding to the increasing sales activity in the market is the return of Real Estate Investment Trust purchases. These national REIT's are buying single-family homes and betting on a higher level of appreciation for future re-selling," commented John Steinwand, President and Principal Broker, Naples Realty Services, Inc.
0 votes Thank Flag Link Mon Mar 18, 2013
The current market from our companies perspective is HOT, while the area was subjected to a slight reduction in sales from last year, our company had about a 19% increase for February. The Naples Navigators watch some 30 areas in our market, and we find that some areas are rebounding faster than others, this seems to be occurring in the areas hardest hit by the downturn. All areas are either improving or holding their own. We have buyers that bought properties over the last 2 years and have experienced a 35% to 50% increase in value, while others are seeing only a 1% to 5% increase. The buyers are here. The market has already turned the coin over and it is becoming more and more a sellers market, bargains are available, just becoming more elusive.
0 votes Thank Flag Link Mon Mar 18, 2013
Yes, especiall in below 1 million markets. Above 1 million in most communities not as strong. If you have a certain area in mind just email me for specific reslults.

steve@havemysunshine.com
0 votes Thank Flag Link Mon Mar 18, 2013
On Friday, NABOR released its monthly report, showing inventory falling more than 13 percent in February over the year, from 7,888 homes and condominiums to 6,843.

The overall median sales price in February was $220,000, up from $180,000 in the same month a year ago, according to the NABOR report. The median is the price at which half sell for more and half for less.

The report also showed resales in the Naples area dipped slightly in February — a trend that could continue because of a lack of choices for buyers.

There were a total of 687 sales made in the Naples area, down from 694 in the same month a year ago, according to the monthly report. The report tracks sales made by NABOR’s members in Collier County, excluding Marco Island.

Of the total, there were 304 single-family homes and 383 condominiums sold last month. The report reflects the sales of existing homes, not new home construction.

While condominium sales rose over the year, home sales declined from 347 in February of last year.
0 votes Thank Flag Link Mon Mar 18, 2013
Naples has turned the corner in the real estate market! Inventories are low and the resulting force will be an increase in pricing. Last year, the market already saw increases in the beach areas, downtown, and canal areas. This momentum will begin to creep east. There are still good buys in the Naples Park area, Vineyards area and even a few condos in the downtown area are still priced in the $170.000 - $250,000 range.
As a Buyer, if you see something you like, do not hesitate to buy it. WHY: Because the comparable sold listings are still reflecting some foreclosures and short sales. Prices are still good right now because they need to include these short sale and foreclosure prices in a price evaluation. However, as these comparable properties "age out" (meaning older than 6 months for an appraisal), prices will move higher faster. Makes sense, right? If you need assistance, please call. I am a seasoned broker in this market; selling for the past 15 years.
Flag Thu Mar 21, 2013
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