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The overall median closed price for homes sold in Collier County jumped 17 percentâ€”from $180,000 to $217,000â€”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. â€œChanges in inventory at some point may become an issue," said Shelton Weeks, department chair of economics & finance at Florida Gulf Coast University. â€œContinued 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.â€
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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
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.
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
Naples, FL 34109
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
Edith YourRealtor4Life & Chicago, North Shore & Northern Illinois Expert
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Investors alike....And always with a SMILE :)
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Agents US & world wide properties. French, German, some Spanish &more EdithSellsHomes@atproperties.com or EdithSellsHomes@gmail.com
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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 REALTORSÂ® (NABORÂ®), 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 NABORÂ® 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 NABORÂ® 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.
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 â€” 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 NABORâ€™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.