Pending home sales eased against a deteriorating economic backdrop but remain in a stable range, according to the National Association of Realtors®.
The Pending Home Sales Index,¹ a forward-looking indicator based on contracts signed in October, slipped 0.7 percent to 88.9 from an upwardly revised reading of 89.5 in September, and is 1.0 percent below October 2007 when it was 89.8.
Lawrence Yun, NAR chief economist, said a review of the past year is instructive. “Despite the turmoil in the economy, the overall level of pending home sales has been remarkably stable over the past year, holding in a generally narrow range,” he said. “We did see a spike in August when mortgage conditions temporarily improved, which underscores two things – there is a pent-up demand, and access to safe, affordable mortgages will bring more buyers into the market.”
Conditions remain uneven around the country, but some areas that are showing healthy gains in pending home sales from a year ago include many Florida and California markets, Providence, R.I.; Lansing, Mich.; Oklahoma City; and Las Vegas. ²
Yun expects growth in the U.S. gross domestic product (GDP) to contract through the first half of 2009, then stabilize and expand in latter part of the year – lifted by a home sales recovery. “Given the critical role of housing in an economic recovery, we’re confident sufficient stimulus will be offered to bring more buyers to the market,” he said.
Looking at middle-ground assumptions, existing-home sales are forecast to total 4.96 million this year, and then increase to 5.19 million in 2009 and 5.55 million in 2010.
New-home sales for 2008 should total 486,000 this year, decline to 393,000 in 2009 and then grow to 446,000 in 2010. Housing starts, including multifamily units, are projected at 934,000 units in 2008 and 731,000 next year before rising to 772,000 in 2010.
Source: realtor.org
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Sunday, December 28, 2008
Monday, December 1, 2008
Grey Oaks Golf Course Real Estate - Closed Sale Info
Grey Oaks November 2008, Closed Sale information: Homes $1,000,000 and up.
Active 95
Pending 3
Closed 1
Source: SunshineMLS, Inc.
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Active 95
Pending 3
Closed 1
Source: SunshineMLS, Inc.
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Friday, November 28, 2008
NABOR report shows prices over $300,000 have stabilized
Over the past 12 months, the median sold price for properties over $300,000 has increased and the upward trend continues, according to a report released by the Naples Area Board of Realtors, which tracks home listings and sales within Collier County (excluding Marco Island).
"In the category of homes valued over $300,000, the median sold price increased 1 percent in the past 12 months, indicating that prices have stabilized in that category. In the under-$300,000 category, foreclosures and short sales continue to influence home prices as the median sold price decreased 17 percent," according to Phil Wood, managing broker of John R. Wood Realtors. For the 12 months ending October 2008, the median sold price for properties over $300,000 increased 1 percent to $566,000, compared to $558,000 for the 12 months ending October 2007.
The report shows the average days a property is on the market has decreased for single-family homes and condominiums.
The report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges and geographic segmentation. It also includes an overall market summary. Source: Florida Weekly
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"In the category of homes valued over $300,000, the median sold price increased 1 percent in the past 12 months, indicating that prices have stabilized in that category. In the under-$300,000 category, foreclosures and short sales continue to influence home prices as the median sold price decreased 17 percent," according to Phil Wood, managing broker of John R. Wood Realtors. For the 12 months ending October 2008, the median sold price for properties over $300,000 increased 1 percent to $566,000, compared to $558,000 for the 12 months ending October 2007.
The report shows the average days a property is on the market has decreased for single-family homes and condominiums.
The report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges and geographic segmentation. It also includes an overall market summary. Source: Florida Weekly
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Tuesday, November 4, 2008
Grey Oaks Golf Course Real Estate - Closed Sale Info
Grey Oaks October 2008, Closed Sale information: Homes $1,000,000 and up.
Active 81
Pending 2
Closed 1
Source: SunshineMLS, Inc.
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Active 81
Pending 2
Closed 1
Source: SunshineMLS, Inc.
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Saturday, October 25, 2008
Home sales increase again in Naples
The buyers are still out in Naples.
In September, home sales activity increased again for local Realtors.
Pending sales — sales that have yet to close — grew 106 percent, while overall home sales grew 50 percent, according to a monthly report by the Naples Area Board of Realtors.
The report shows sales made through the SunshineMLS, or multiple listing service, in Collier County, excluding Marco Island. There were 361 total sales in September, up from 240 a year ago. Meanwhile, pending sales grew to 481, from 234 last year.
Pending sales are up in all six geographic areas that NABOR tracks, from Naples Beach to Immokalee. The biggest jump was seen in Central Naples, where they grew nearly 244 percent to 110, up from 32 last year.
The highest number of sales was in North Naples — at 104.
Pending sales have been up the last eight months over last year, according to NABOR’s report. Sales have been up for nearly that long.
There were 92 sales made in the $500,000 to more than $2 million categories, up from 75 a year ago.
Source: Naplesnews.com
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In September, home sales activity increased again for local Realtors.
Pending sales — sales that have yet to close — grew 106 percent, while overall home sales grew 50 percent, according to a monthly report by the Naples Area Board of Realtors.
The report shows sales made through the SunshineMLS, or multiple listing service, in Collier County, excluding Marco Island. There were 361 total sales in September, up from 240 a year ago. Meanwhile, pending sales grew to 481, from 234 last year.
Pending sales are up in all six geographic areas that NABOR tracks, from Naples Beach to Immokalee. The biggest jump was seen in Central Naples, where they grew nearly 244 percent to 110, up from 32 last year.
The highest number of sales was in North Naples — at 104.
Pending sales have been up the last eight months over last year, according to NABOR’s report. Sales have been up for nearly that long.
There were 92 sales made in the $500,000 to more than $2 million categories, up from 75 a year ago.
Source: Naplesnews.com
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Monday, October 6, 2008
Grey Oaks Golf Course Real Estate - September Closed Sale Info
Grey Oaks September 2008, Closed Sale information: Homes $1,000,000 and up.
Active 75
Pending 2
Closed 2
Source: SunshineMLS, Inc.
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Active 75
Pending 2
Closed 2
Source: SunshineMLS, Inc.
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Sunday, September 21, 2008
Money Magazine ranks Collier as one of best 'places for long life'
NAPLES — Money Magazine has ranked Collier County fourth on its "Best Places for a Long Life" list.
The magazine studied regions across the country. The highest rankings identify areas where residents have some of the highest life expectancies.
In its report, Money stated that Collier County "is the picture of Florida leisure. By land area, Collier is the largest county in the state and 80 percent of it is devoted to parks and nature preserves. Any kind of water-related recreation or exercise you can think of is readily available."
The magazine also recognized the area's many arts and entertainment offerings.
"Our ranking among the 'Best Places' confirms what we are working to develop in Southwest Florida, which is a robust business climate for growing technology, life science and corporate headquarter enterprises. Couple this with a warm, natural climate and a well-educated workforce and you have the formula for business success,” said Julie A. Schmelzle, chairman of the Economic Development Council of Collier County, in a news release.
Source: Naplesnews.com
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The magazine studied regions across the country. The highest rankings identify areas where residents have some of the highest life expectancies.
In its report, Money stated that Collier County "is the picture of Florida leisure. By land area, Collier is the largest county in the state and 80 percent of it is devoted to parks and nature preserves. Any kind of water-related recreation or exercise you can think of is readily available."
The magazine also recognized the area's many arts and entertainment offerings.
"Our ranking among the 'Best Places' confirms what we are working to develop in Southwest Florida, which is a robust business climate for growing technology, life science and corporate headquarter enterprises. Couple this with a warm, natural climate and a well-educated workforce and you have the formula for business success,” said Julie A. Schmelzle, chairman of the Economic Development Council of Collier County, in a news release.
Source: Naplesnews.com
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Tuesday, September 16, 2008
Grey Oaks Golf Course Real Estate - August Closed Sale Info
Grey Oaks August 2008, Closed Sale information: Homes $1,000,000 and up.
Active 73
Pending 4
Closed 1
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Source: SunshineMLS, Inc.
Active 73
Pending 4
Closed 1
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Source: SunshineMLS, Inc.
Sunday, August 31, 2008
Florida Real Estate - Existing Home Sales Remain Level in July 2008
Single-family existing home sales rose in Florida for the first time in more than two years: While only six more homes sold in July 2008 than in July 2007, it could indicate stabilization in Florida’s housing sector, according to the latest housing statistics released by the Florida Association of Realtors(R) (FAR).
Source: RISMEDIA, August 27, 2008
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Source: RISMEDIA, August 27, 2008
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Wednesday, August 13, 2008
Grey Oaks Golf Course Real Estate - Closed Sale Info
Grey Oaks July 2008, Closed Sale information: Homes $1,000,000 and up.
Active 74
Pending 2
Closed 4
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Source: SunshineMLS, Inc.
Active 74
Pending 2
Closed 4
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Source: SunshineMLS, Inc.
Monday, August 11, 2008
Naples home sales rise fifth month in a row
More buyers are getting back into the game.
As home prices continue to drop in the Naples area, sales are rising and inventories are falling.
In June, total sales rose by 9 percent to 471, from 431 a year ago.
Meanwhile, the inventory of homes shrank to 10,837, from 11,602 last year, according to a monthly report by the Naples Area Board of Realtors.
The report tracks home sales in Collier County, excluding Marco Island.
Pending sales have increased and available inventory has decreased for the past five months.
“We hope that this keeps up,” said Realtor Arlene Carozza, NABOR’s president.
It looks promising. Pending sales increased 63 percent to 494 in June, up from 302 a year ago.
For single-family homes priced at less than $300,000, pending sales rose a whopping 537 percent to 172 in June, up from 27 a year ago.
The median price for all homes in the Naples area fell to $310,000 last month, down from $400,000 a year ago.
“People are looking at the prices they have their houses listed at and they are getting a little more realistic,” Carozza said.
In June, there were 4,653 homes available for less than $300,000 — far more than in any other category, according to NABOR’s report.
Overall, market sales for homes less than $300,000 rose 58 percent, with the median price down 15 percent, compared to a year ago. There were 231 sales, up from 146 last year. Of those sales, 113 were single-family homes — a 253 percent increase over the 32 that sold a year ago.
All areas covered by the report, except Immokalee and Ave Maria, saw an increase in pending sales in June. East Naples had the biggest jump to 106, from 39 a year ago.
Total condominium sales in June fell slightly to 210, from 228 a year ago. However, pending sales for condos rose 43 percent to 197, from 138 a year ago.
Joni Albert, managing broker for RealtyUSA in downtown Naples, wasn’t surprised by the numbers. She said her office is seeing more showings and more offers being written. Most of the interest is coming from second-home buyers, she said.
At her office, pending sales increased more than 70 percent in June, while total sales were up 53 percent, Albert said.
“There are buyers out there,” she said. “People are purchasing properties.”
She said out-of-town buyers who have been looking are expected to return later this summer and in the fall to search again.
As long as interest rates remain low, Carozza said she expects more buyers to get off the fence as prices become more affordable for more people.
In the first six months of the year Downing-Frye Realty Inc. had 11,000 showings, which resulted in about 1,000 transactions, said Michael Hughes, a company vice president.
That tells him that there are a lot more buyers that haven’t jumped off the fence yet — and will.
“People are coming in and grabbing the choice properties,” as long as they are priced right, he said.
“We are going in the right direction. I’m not really sure for the rest of the year what we will see,” Hughes said.
Source Naplesnews.com
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As home prices continue to drop in the Naples area, sales are rising and inventories are falling.
In June, total sales rose by 9 percent to 471, from 431 a year ago.
Meanwhile, the inventory of homes shrank to 10,837, from 11,602 last year, according to a monthly report by the Naples Area Board of Realtors.
The report tracks home sales in Collier County, excluding Marco Island.
Pending sales have increased and available inventory has decreased for the past five months.
“We hope that this keeps up,” said Realtor Arlene Carozza, NABOR’s president.
It looks promising. Pending sales increased 63 percent to 494 in June, up from 302 a year ago.
For single-family homes priced at less than $300,000, pending sales rose a whopping 537 percent to 172 in June, up from 27 a year ago.
The median price for all homes in the Naples area fell to $310,000 last month, down from $400,000 a year ago.
“People are looking at the prices they have their houses listed at and they are getting a little more realistic,” Carozza said.
In June, there were 4,653 homes available for less than $300,000 — far more than in any other category, according to NABOR’s report.
Overall, market sales for homes less than $300,000 rose 58 percent, with the median price down 15 percent, compared to a year ago. There were 231 sales, up from 146 last year. Of those sales, 113 were single-family homes — a 253 percent increase over the 32 that sold a year ago.
All areas covered by the report, except Immokalee and Ave Maria, saw an increase in pending sales in June. East Naples had the biggest jump to 106, from 39 a year ago.
Total condominium sales in June fell slightly to 210, from 228 a year ago. However, pending sales for condos rose 43 percent to 197, from 138 a year ago.
Joni Albert, managing broker for RealtyUSA in downtown Naples, wasn’t surprised by the numbers. She said her office is seeing more showings and more offers being written. Most of the interest is coming from second-home buyers, she said.
At her office, pending sales increased more than 70 percent in June, while total sales were up 53 percent, Albert said.
“There are buyers out there,” she said. “People are purchasing properties.”
She said out-of-town buyers who have been looking are expected to return later this summer and in the fall to search again.
As long as interest rates remain low, Carozza said she expects more buyers to get off the fence as prices become more affordable for more people.
In the first six months of the year Downing-Frye Realty Inc. had 11,000 showings, which resulted in about 1,000 transactions, said Michael Hughes, a company vice president.
That tells him that there are a lot more buyers that haven’t jumped off the fence yet — and will.
“People are coming in and grabbing the choice properties,” as long as they are priced right, he said.
“We are going in the right direction. I’m not really sure for the rest of the year what we will see,” Hughes said.
Source Naplesnews.com
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Thursday, July 24, 2008
Real Estate Prices Rise for Four Straight Months - Is Anyone Noticing?
Amidst the gloom on Wall Street about housing someone forgot to check the stats.
According to NAR statistics, the median home price has fallen from a high of $230,200 in July 2006 to a low in February 2008 at $195,600, a drop of 15%. Since February, however, it has risen steadily every month. By May the index (which will be revised on July 24) had risen to $208,600, up $13,000 and a full 6.6%. Another indicator, the mean home price (otherwise known as the average home price), has also shown strength and has risen from a low of $242,000 also in February of this year to $253,100, a rise of $11,100 or 4.5%. It, too, has risen every month since February of this year.
“I just don’t know where Wall Street’s brains are today,” said David Michonski, CEO of Coldwell Banker Hunt Kennedy in New York City. “This has got to go down as one of Wall Street and Main Street’s biggest disconnects in history.”
In addition, on an annualized basis the volume of home sales has also risen somewhat from a low of 4,890,000 homes in January to 4,990,000 in May. “Rising prices on expanding volume should not a crisis make on Wall Street,” says Michonski.
Is this the bottom? “No one can know for sure, but the hard data is clear. The median price has risen four straight months. The average American is out there taking advantage of bargains in their local real estate market. They are not listening to Wall Street but following their own belief that the best time to buy is when no one else is, and they are out there buying. If this keeps up, February may prove to have been the low in prices.”
Source: RISMedia.com
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According to NAR statistics, the median home price has fallen from a high of $230,200 in July 2006 to a low in February 2008 at $195,600, a drop of 15%. Since February, however, it has risen steadily every month. By May the index (which will be revised on July 24) had risen to $208,600, up $13,000 and a full 6.6%. Another indicator, the mean home price (otherwise known as the average home price), has also shown strength and has risen from a low of $242,000 also in February of this year to $253,100, a rise of $11,100 or 4.5%. It, too, has risen every month since February of this year.
“I just don’t know where Wall Street’s brains are today,” said David Michonski, CEO of Coldwell Banker Hunt Kennedy in New York City. “This has got to go down as one of Wall Street and Main Street’s biggest disconnects in history.”
In addition, on an annualized basis the volume of home sales has also risen somewhat from a low of 4,890,000 homes in January to 4,990,000 in May. “Rising prices on expanding volume should not a crisis make on Wall Street,” says Michonski.
Is this the bottom? “No one can know for sure, but the hard data is clear. The median price has risen four straight months. The average American is out there taking advantage of bargains in their local real estate market. They are not listening to Wall Street but following their own belief that the best time to buy is when no one else is, and they are out there buying. If this keeps up, February may prove to have been the low in prices.”
Source: RISMedia.com
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Wednesday, July 9, 2008
Grey Oaks Naples - June 2008 Pending & Closed Sale Report
Grey Oaks Pending & Closed Sale Report for June 2008
87 Active
1 Active with Contract
6 Pending
1 Closed
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Source: SunshineMLS, Inc.
87 Active
1 Active with Contract
6 Pending
1 Closed
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LWhite@AmerivestRealty.com
Source: SunshineMLS, Inc.
Friday, June 20, 2008
Bush’s Naples visit just for private luncheon
The White House confirmed Monday that President Bush will visit Naples on Friday afternoon for a private luncheon to benefit Florida’s Republican congressional delegation.
The Florida Victory Committee luncheon is being hosted by Rep. Lincoln Diaz-Balart, R-Miami, and Rep. Mario Diaz-Balart, R-Miami. The congressmen are brothers, with Mario Diaz-Balart representing eastern Collier County.
Additional details about the trip will be released later, White House spokesman Blair Jones said.
President George W. Bush last visited Collier County in April 2004. The visit included attending a $25,000-a-plate fund-raising lunch at the Port Royal home of Jack Donahue, a prominent Naples philanthropist.
The event, according to an April 24, 2004, report in the Daily News, brought in $2.9 million.
Bush also addressed a crowd at Rookery Bay National Estuarine Research Reserve and made a surprise stop at St. Ann’s Catholic School in downtown Naples.
The 2004 trip blocked off several roads including Airport-Pulling Road, U.S. 41 East, Goodlette-Frank Road and Golden Gate Parkway.
Traffic, in some cases, was backed up for miles. Source: NaplesNews.com
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The Florida Victory Committee luncheon is being hosted by Rep. Lincoln Diaz-Balart, R-Miami, and Rep. Mario Diaz-Balart, R-Miami. The congressmen are brothers, with Mario Diaz-Balart representing eastern Collier County.
Additional details about the trip will be released later, White House spokesman Blair Jones said.
President George W. Bush last visited Collier County in April 2004. The visit included attending a $25,000-a-plate fund-raising lunch at the Port Royal home of Jack Donahue, a prominent Naples philanthropist.
The event, according to an April 24, 2004, report in the Daily News, brought in $2.9 million.
Bush also addressed a crowd at Rookery Bay National Estuarine Research Reserve and made a surprise stop at St. Ann’s Catholic School in downtown Naples.
The 2004 trip blocked off several roads including Airport-Pulling Road, U.S. 41 East, Goodlette-Frank Road and Golden Gate Parkway.
Traffic, in some cases, was backed up for miles. Source: NaplesNews.com
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Wednesday, June 4, 2008
Grey Oaks Naples - Home Sales Report
12 Month Home Sales Report: Homes Over $1,000,000
80 Active
2 Active with Contract
3 Pending
38 closed
Of the 38 Closed Properties over $1,000,000 in Grey Oaks, 18 closed in 2008.
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Source: SunshineMLS, Inc.
80 Active
2 Active with Contract
3 Pending
38 closed
Of the 38 Closed Properties over $1,000,000 in Grey Oaks, 18 closed in 2008.
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Source: SunshineMLS, Inc.
Friday, May 30, 2008
Florida real estate market - Home sales increase 20% in 1 Month
Americans aren’t buying homes. No, wait, they are. Or, at least, Floridians are.This back-and-forth news may have homeowners questioning where the real estate market is headed, but the latest report from the Florida Association of Realtors (FAR) shows existing home sales in the state are on the rise despite reported declines nationwide by the National Association of Realtors (NAR).
Florida Association of Realtors April report reveals a 20 percent increase in single-family existing home sales over the course of the month, with the number of home sales climbing from 9,330 homes sold in March to 11,200 sold in April. Meanwhile, National Association of Realtors reports that existing home sales have dropped to the all-time low set in January with a 1 percent decline.
"I think that’d be pretty comparable to what we’re seeing (in the Bonita Springs-Estero area)," Bonita Springs Association of Realtors President Sherry Haas said. "We’re seeing much more realistic sellers, and a lot of buyers getting off the fencepost. Real estate is local in nature, and statistics nationally can never be applied here because we have the beaches, the sun — I think we’ll always have an edge here."
Broker/owner Carla Bonten, of Carla Bonten Realty Inc., said one major reason why the Sunshine State defies the country’s average is Florida’s weather.
"We’re in paradise. That’s what everybody says," she said. "It was a long winter, and it’s still cold in several states, which makes people think of living someplace that’s warm and sunny."
Sales are still down from this time last year, however. Single-family existing home sales are down 9 percent when compared to April 2007, according to FAR.
“When it comes to interpreting how the housing market is doing, he said that people will often see what they want to see. "Perception is everything in this business, doom and gloomers always find doom and gloom. They’ve been telling me the sky is falling for the past few years, and you know what? I don’t have a single piece of sky in my hair." - Wes Brodersen Broker/Owner Exit Gulder
source: naplesnews.com
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Florida Association of Realtors April report reveals a 20 percent increase in single-family existing home sales over the course of the month, with the number of home sales climbing from 9,330 homes sold in March to 11,200 sold in April. Meanwhile, National Association of Realtors reports that existing home sales have dropped to the all-time low set in January with a 1 percent decline.
"I think that’d be pretty comparable to what we’re seeing (in the Bonita Springs-Estero area)," Bonita Springs Association of Realtors President Sherry Haas said. "We’re seeing much more realistic sellers, and a lot of buyers getting off the fencepost. Real estate is local in nature, and statistics nationally can never be applied here because we have the beaches, the sun — I think we’ll always have an edge here."
Broker/owner Carla Bonten, of Carla Bonten Realty Inc., said one major reason why the Sunshine State defies the country’s average is Florida’s weather.
"We’re in paradise. That’s what everybody says," she said. "It was a long winter, and it’s still cold in several states, which makes people think of living someplace that’s warm and sunny."
Sales are still down from this time last year, however. Single-family existing home sales are down 9 percent when compared to April 2007, according to FAR.
“When it comes to interpreting how the housing market is doing, he said that people will often see what they want to see. "Perception is everything in this business, doom and gloomers always find doom and gloom. They’ve been telling me the sky is falling for the past few years, and you know what? I don’t have a single piece of sky in my hair." - Wes Brodersen Broker/Owner Exit Gulder
source: naplesnews.com
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Friday, March 21, 2008
Pending Sales Increased 10.6% Breaking 28-Month Trend
NABOR REPORTS FEBRUARY REAL ESTATE TRANSACTIONS
NAPLES, Fla. - March 17, 2008 - For the third consecutive month, real estate activity in the Naples area steadily increased, with condo sales and single-family homes under $300,000 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).
Most notably, February marked the end of a 28-month downward trend of pending home sales, which increased 10.6 percent overall from February 2007.
NABOR President Arlene Carozza, a Realtor® and corporate trainer with Amerivest Realty, attributes the increased activity to lower median prices, reduced interest rates, abundant inventory and common sense."Buyers have realized the incredible values that are currently available and will most likely be gone by next season," Carozza stated. "As the lower priced inventory is absorbed, there is nowhere for prices to go but up."The report, which provides annual comparisons of single-family home and condo sales (via the Multiple Listing Service), price ranges and geographic segmentation, also includes an overall market summary.
The statistics are presented in chart format, along with the following analysis:
"There is tremendous activity in the low end of the market," said Jo Carter, president of Jo Carter & Associates, acknowledging that homes less than $300,000 is the best-selling category right now. "Properties that are priced realistically are being sold."Tom Bringardner, president of Premier Properties, predicts this activity will have a domino effect. "In a traditional market recovery, as the lower priced product is sold, it pushes buyers into the higher price ranges."
For More Information Visit Naples Luxury Estates Specialists, Mary Catherine & Larry White
NAPLES, Fla. - March 17, 2008 - For the third consecutive month, real estate activity in the Naples area steadily increased, with condo sales and single-family homes under $300,000 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).
Most notably, February marked the end of a 28-month downward trend of pending home sales, which increased 10.6 percent overall from February 2007.
NABOR President Arlene Carozza, a Realtor® and corporate trainer with Amerivest Realty, attributes the increased activity to lower median prices, reduced interest rates, abundant inventory and common sense."Buyers have realized the incredible values that are currently available and will most likely be gone by next season," Carozza stated. "As the lower priced inventory is absorbed, there is nowhere for prices to go but up."The report, which provides annual comparisons of single-family home and condo sales (via the Multiple Listing Service), price ranges and geographic segmentation, also includes an overall market summary.
The statistics are presented in chart format, along with the following analysis:
- Overall pending home sales in the greater Naples Area, which includes Naples Beach, North Naples, Central Naples, South Naples, East Naples, Immokalee and Ave Maria, increased 10.6 percent, with 513 in February 2008 compared to 464 in February 2007.
- Overall homes sales were 289 in February 2008 compared to 304 in February 2007, a 4.9 decrease.
- Overall condo sales increased 4.5 percent, with 162 sold in February 2008 compared to 155 in February 2007, and condo sales under $300,000 increased 36 percent with 83 in February 2008 compared to 61 in February 2007.
- Single-family home sales decreased 14.8 percent overall, with 127 in February 2008 and 149 in February 2007, but sales in the less than $300,000 category saw a 66.6 percent increase with 45 in February 2008 compared to 27 in February 2007.
- The overall median sales price decreased 14 percent from the same month last year.
"There is tremendous activity in the low end of the market," said Jo Carter, president of Jo Carter & Associates, acknowledging that homes less than $300,000 is the best-selling category right now. "Properties that are priced realistically are being sold."Tom Bringardner, president of Premier Properties, predicts this activity will have a domino effect. "In a traditional market recovery, as the lower priced product is sold, it pushes buyers into the higher price ranges."
For More Information Visit Naples Luxury Estates Specialists, Mary Catherine & Larry White
Friday, February 15, 2008
Luxury Market Positive in Slow Market
So why are ultrahigh-end home prices still rising, with some prices reaching up to an astronomical $175 million? It's a simple matter of supply and demand, say brokers from hot markets like Manhattan, the Hamptons, Palm Beach and both ends of California. While there's a national glut of McMansions in the $500,000 and up range, there's a shortage of trophy properties on the market and an increasing number of wealthy foreign buyers from Asia and Europe looking to capitalize on the weak U.S. dollar.
-Newsweek 01.30
Grey Oaks Naples FL Luxury Real Estate - click here to see homes for sale.
-Newsweek 01.30
Grey Oaks Naples FL Luxury Real Estate - click here to see homes for sale.
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