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Single Family Home Inventory RisesIn Southwest Florida... 

Naples, Fla. (November 20, 2015) - Inventory rose 4 percent in the single-family home resale market during October according to the October 2015 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). This rise in single-family home inventory is needed to meet seasonal demand. Broker analysts reviewing the report said it displayed familiar trends that - historically speaking - will set the stage for what is expected to be a busy winter season in real estate.

"The single-family home market is continuing its pattern of stabilization," said Cindy Carroll, SRA, with the real estate appraisal and consultancy firm Carroll & Carroll, Inc. "Except for Central Naples - where the single family home inventory decreased 17 percent - inventories in all other geographic areas rose, some dramatically." 

Unlike the condominium market inventory, which dropped 7 percent, inventory in the single-family home market increased 4 percent overall in October from 2,128 single-family homes in October 2014 to 2,210 single-family homes in October 2015. In North Naples the the single-family home inventory rose 14 percent from 571 single-family homes in October 2014 to 650 single-family homes in October 2015. Single-family home inventory in the $500,000 to $1 million price segment rose 20 percent from 531 single-family homes in October 2014 to 637 single-family homes in October 2015.

John Steinwand, Broker and Principal at Naples Realty Services, Inc., said the report also showed a remarkable upswing in activity in the Immokalee/Ave Maria area. "Overall inventory in this area increased the highest percentage in this area compared to the other geographic areas we track. Single-family home inventory in the Immokalee/Ave Maria area rose 24 percent from 17 single-family homes in October 2014 to 21 single-family homes in October 2015. Despite the increase in inventory, this geographic area also had the highest increase in single-family home median closed price, going up 46 percent from a median closed price of $151,000 in the 12-months ending October 2014 to $220,000 in the 12-months ending October 2015."

"We are starting to see trends in the report that don't reflect the typical supply and demand scenario," said Carroll. "For example, the median closed price of single-family homes in the $2 million and above price segment rose 15 percent in the 12-months ending October 2015, yet the inventory in that same price segment rose 17 percent in the same time period, demonstrating an unexpected statistic." 

To clarify, the term "median closed price" reflects a calculation wherein exactly half of the homes sold were above the median closed price and exactly half were below it. It does not reflect the average price of homes for sale.

Carroll, a 30-year Naples appraisal veteran, pointed out that supply and demand in the Coquina Sands, Moorings, and Park Shore neighborhoods is nearly balanced if you include new construction; while the same market sector including new construction in Old Naples is oversupplied, according to her data.

A balanced market occurs when there is between five to seven months of inventory. A seller's market occurs when there is less than five months of inventory. A buyer's market occurs when there is more than seven months of inventory.

Remarking on Carroll's insight, Rick Fioretti, NABOR® President Elect and Broker Associate with Berkshire Hathaway Home Services Florida Realty, said, "Buyers really need to listen closely to advice from their REALTOR® because REALTORS® know how to interpret this Market Report properly. For example, just because there was a 14 percent increase in overall median closed price in October doesn't mean every home's price increased 14 percent. The reality is that the median closed prices for most of the market [homes between $300,000 and $2 million] stayed about the same. With that said, the median closed price in the $300,000 and below price segment rose 11 percent and the median closed price in the $2 million and above price segment rose 14%. And while the overall inventory decreased 1 percent, every geographic area we track - with the exception of Central Naples - saw an increase in single-family home inventory from 9 percent to 21 percent in October 2015 compared to October 2014." 

The NABOR® October 2015 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® October 2015 sales statistics are presented in chart format, including these overall (single-family and condominium) findings: 

• Overall pending sales decreased 11 percent from 911 homes in October 2014 to 807 homes in October 2015.

• Overall closed sales increased 1 percent from 9,746 homes in the 12-months ending October 2014 to 9,828 in the 12-months ending October 2015.

• Overall median closed price increased 14 percent from $265,000 in the 12-months ending October 2014 to $302,000 in the 12-months ending October 2015. 

• Overall median closed price for homes over $300,000 decreased 4 percent from $542,000 in the 12-months ending October 2014 to $520,000 in the 12-months ending October 2015.

• Overall inventory decreased 1 percent from 3,939 in October 2014 to 3,903 in October 2015.

• Single-family home inventory increased 4 percent from 2,128 single-family homes in October 2014 to 2,210 single-family homes in October 2015.

• Condominium inventory decreased 7 percent from 1,811 condominiums in October 2014 to 1,693 condominiums in October 2015.

• There is a 4.63 months supply of inventory.

• Average days on market increased 3 percent from 71 days in October 2014 to 73 days in October 2015.

A buyer interested in purchasing a single-family home near the beach will experience some challenges in the coming months, as pointed out by Coco Waldenmayer, a managing broker at John R. Wood Properties, who said, "Anyone looking for a single-family home under $2 million in the Naples Beach area will find most of the remaining properties are ready for tear down. However, there are condominiums available west of 41 in a broad range of prices."

Navigating through the complex Naples real estate market can be challenging. Let's Talk about the current Southwest Florida market together. Let me ensure you that your next sale or purchase in the Naples area a success. I  look forward in guiding you through your next real estate transaction.

Let's talk today!

Michelle

PS: To view our Market Report just click the link below...

View October 2015 Market Statistics

Michelle J. DeNomme, REALTOR, GRI

Cellular Phone:  239.404.7787

E-Mail: Michelle@NaplesHomeSweetHome.com

Berkshire Hathaway HomeServices Florida Realty

Office: 239.659.2400

E-Fax Number:  239.236.5550

Website:  www.NaplesHomeSweetHome.com        

Blog Page:   http://michelledenomme.blogspot.com  

Twitter Me: DeNommeRealtor

Let’s Talk… New Development in South West Florida!

Come discover with me just how many new developments are available in South West Florida. I have dedicated my career to providing my customers with the opportunity to identify our ever growing and changing South West Florida market. Whether beginning your search, downsizing or upgrading my vast knowledge will be invaluable to you throughout your discovery process.

 

Contact me today and receive the knowledge you’ve been searching for to make your selection process a breeze!

 

Let’s Talk Today!

 

Michelle J. DeNomme, REALTOR, GRI

Cellular Phone:  239.404.7787

E-Mail: Michelle@NaplesHomeSweetHome.com

Berkshire Hathaway HomeServices Florida Realty

Office: 239.659.2400

E-Fax Number:  239.236.5550

Website:  www.NaplesHomeSweetHome.com        

Blog Page:   http://michelledenomme.blogspot.com  

Twitter Me: DeNommeRealtor

Let's Talk... Hot off the Press! 

Inland Home Sales Activity Outpaced Shoreline 

During Third Quarter

  

Naples, Fla. (October 23, 2015) - Broker analysts were pleased when they reviewed the Third Quarter Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). The report showed positive trends during the summer months of 2015, with increased activity in neighborhoods located inland (east of 41) including South, East and Central Naples. Overall closed sales for single-family homes in the $1-million to $2-million price category outpaced all other price categories with a 79 percent increase (quarter over quarter) from 56 single-family homes sold in the Third Quarter of 2014 to 100 sold in the Third Quarter of 2015.

 

"The third quarter report confirmed to us that summer was strong for home sales," said Mike Hughes, NABOR® president, Vice President and General Manager of Downing-Frye Realty, referring to double-digit increases in closed sales for homes priced above $300,000. "I'm especially impressed at how well the high-end single-family home market did in the past three months because we typically see more people buy in this range between Christmas and Easter."

 

Geographically, activity was most remarkable during the Third Quarter in inland neighborhoods of Naples with activity in the South Naples condominium market leading the pack. According to a quarterly comparison of the Third Quarter of 2014 versus the Third Quarter of 2015, South Naples saw an 8 percent increase in pending sales for condominiums, a 9 percent increase in closed sales for condominiums, and a 24 percent increase in median closed price for condominiums.

 

Broker analysts agreed that a renewed interest in homes located east of U.S. 41 was not a surprise. "Sales of homes near the beach happened faster following the recession because of their prime location," said Pat Pitocchi, NABOR® media relations chairperson and corporate trainer at Downing-Frye Realty. "But the latest reports show us the housing market in all geographic areas within Naples has recovered as buyers are showing increased interest in our inland properties."

 

Bill Coffey, Broker Manager of Amerivest Realty Naples, agreed with Pitocchi, noting that the reports also showed a strong trend in how people are purchasing homes, cash versus financing. "There was an 11 percent decrease in cash sales from 66.8 percent in September 2014 to 55.6 percent in September 2015," said Coffey. "When the number of homes being financed continues to increase through the summer months, it's a good indicator that more full-time families are being attracted to the area."

 

Other inland areas that saw heightened activity during the Third Quarter were Central and East Naples. Of note, Central Naples (which includes neighborhoods between U.S. 41 and Collier Boulevard) saw a 24 percent increase (quarter over quarter) in overall median closed price from $185,000 in the Third Quarter of 2014 to $230,000 in the Third Quarter of 2015, and single-family homes in East Naples (identified as homes located east of Collier Boulevard) experienced a 29 percent increase in median closed price from $221,000 in the Third Quarter of 2014 to $285,000 in the Third Quarter of 2015.

 

NABOR also released its September 2015 Market Report which showed a 10 percent decrease in pending sales (homes under contract) from 829 homes pending in September 2014 to 749 in September 2015. According to Hughes, the dip in September's pending sales may have been tied to the stock market's erratic behavior, which tends to shake consumer confidence and cause people to delay big purchase decisions.

 

The Third Quarter and September 2015 Market Reports also uncovered a possible new trend in inventory as the number of homes for sale in the $300,000 and below price range was no longer the largest category of inventory as in the past. As pointed out by Brenda Fioretti, Managing Broker at Berkshire Hathaway HomeServices Florida Realty, "Out of the 945 homes for sale under $300,000, only 291 are single-family homes. However, there are 505 single-family homes for sale in the $300,000 to $500,000 price category, and 598 single-family homes for sale in the $500,000 to $1 million price category. Due to the increase in home values, many homes previously listed in the lower price categories have crept up to the next higher price category, which is referred to as bracket creep."

 

The NABOR® Third Quarter 2015 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® Third Quarter 2015 sales statistics are presented in chart format, including these overall (single-family and condominium) findings: 

· Overall pending sales decreased 1 percent from 2,304 homes in the Third Quarter of 2014 to 2,270 homes in the Third Quarter of 2015.

· Overall closed sales increased 3 percent from 9,658 in the 12-months ending the Third Quarter of 2014 to 9,956 in the 12-months ending the Third Quarter of 2015.

· Overall median closed price increased 15 percent from $262,000 in the 12-months ending the Third Quarter of 2014 to $300,000 in the 12-months ending the Third Quarter of 2015.

· Overall median closed price for homes over $300,000 decreased 5 percent from $545,000 in the 12-months ending the Third Quarter of 2014 to $520,000 in the 12-months ending the Third Quarter of 2015.

· Overall inventory decreased 3 percent from 3,702 in the Third Quarter of 2014 to 3,606 in the Third Quarter of 2015.

· There is a 4.24 months supply of inventory.

· Average days on market decreased 1 percent from 77 days in the Third Quarter of 2014 to 78 days in the Third Quarter of 2015. 

The NABOR® September 2015 Market Report was also released and reflected these overall (single-family and condominium) findings:  

· Overall pending sales decreased 10 percent from 829 homes in September 2014 to 749 homes in September 2015.

· Overall closed sales increased 3 percent from 9,658 homes in the 12-months ending September 2015 to 9,956 homes in the 12-months ending September 2015.

· Overall median closed price increased 15 percent from $262,000 in the 12-months ending September 2014 to $300,000 in the 12-months ending September 2015.

· Overall inventory decreased 3 percent from 3,702 in September 2014 to 3,606 in September 2015.

· Average Days on market increased 7 percent from 74 days in September 2014 to 79 days in September 2015.

"The third quarter report also showed us that a lot more people purchased single-family homes above $1 million this summer than in the same quarter last year," said Steve Barker, Advising Broker for Equity Realty. Indeed, the Third Quarter Market Report reflected the median closed price for single-family homes in the $1 million and above price category decreased 2 percent from $1,350,000 in the Third Quarter of 2014 to $1,325,000 in the Third Quarter of 2015, which may have spurred sales.

 

Hughes remarked that, "Historically, we see an upswing in the number of homes that go up for sale in October in anticipation of seasonal buyers. It will be interesting to see how this plays out because it appears the increased demand for single-family homes from full-time residents has the potential to keep absorbing our existing inventory."

 

As always if you have any questions please feel free to contact me by calling 239.404.7787 or by e-mail at Michelle@NaplesHomeSweetHome.com

I hope you have a fantastic day!

Michelle

View 3Q 2015 Market Statistics

View September 2015 Market Statistics

 

 

Michelle J. DeNomme, REALTOR, GRI

Cellular Phone:  239.404.7787

E-Mail: Michelle@NaplesHomeSweetHome.com

Berkshire Hathaway HomeServices Florida Realty

Office: 239.659.2400

E-Fax Number:  239.236.5550

Website:  www.NaplesHomeSweetHome.com        

Blog Page:   http://michelledenomme.blogspot.com  

Twitter Me: DeNommeRealtor

The Naples Area Board of REALTORS® (NABOR®) is an established organization (Chartered in 1949) whose members have a positive and progressive impact on the Naples Community. NABOR® is a local board of REALTORS® and real estate professionals with a legacy of nearly 60 years serving 5,000 plus members. NABOR® is a member of the Florida Realtors and the National Association of REALTORS®, which is the largest association in the United States with more than 1.3 million members and over 1,400 local board of REALTORS® nationwide. NABOR® is structured to provide programs and services to its membership through various committees and the NABOR® Board of Directors, all of whose members are non-paid volunteers.

The term REALTOR® is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribe to its strict Code of Ethics.

Let's Talk... Hot Off The Press...

Housing Activity in South Naples Heats Up in August!

 

Naples, Fla. (September 18, 2015) - Traditionally a tepid month for REALTORS®, August delivered robust activity in many areas of Naples particularly in South Naples, according to the August 2015 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). South Naples is defined in the Southwest Florida MLS as encompassing properties in zip codes 34112 and 34113 (i.e., neighborhoods south of Davis Boulevard, west of SR/CR 951, east of the U.S. 41 and 5th Ave. S. intersection. Some of the larger neighborhoods in this area include, Lely, Treviso Bay, Isles of Collier Preserve, Lakewood, Kings Lake, Eagle Creek, and Isle of Capri). This particular geographic area experienced the highest increases in overall pending sales, closed sales and median closed prices of all geographic area reported in August.

 

Despite a 5 percent decrease in overall inventory for homes in the South Naples region from 575 homes in August 2014 to 547 homes in August 2015, broker analysts agree that the South Naples market is gaining in popularity as buyers are attracted to its investment potential and renewed growth.

 

Pending sales (homes under contract) in South Naples jumped 26 percent from 112 pending sales in August 2014 to 141 pending sales in August 2015. Closed sales in this region increased 9 percent from 1,482 closed sales in the 12-months ending August 2014 to 1,610 closed sales in the 12-months ending August 2015. Interestingly, the median home price in South Naples experienced the highest increase of all geographic areas with a 21 percent increase from $179,000 in the 12-months ending August 2014 to $217,000 in the 12-months ending August 2015 despite the fact that inventory decreased only 5 percent from August 2014 to August 2015.

 

"Mortgages are coming back in a big way too," said Steve Barker, Advising Broker for Equity Realty. "The August report showed conventional sales amounted to 44 percent of all sales; whereas in August of 2013, conventional sales amounted to only 34 percent of all sales in that month. I believe we are starting to see a real trend back to home financing as many of the homeowners who lost homes in 2006, 2007 and 2008 are now able to qualify for new mortgages."

 

According to Pat Pitocchi, NABOR® Media Relations Committee chairperson and corporate trainer at Downing-Frye Realty, "One factor contributing to the impressive activity in August may be that buyers are concerned an impending rate increase will occur this fall." Phil Wood, President & CEO of John R. Wood Properties agreed and added that this concern may not be on just the buyers' minds as he's heard "several large banks are encouraging high-end buyers who have always favored purchasing homes with cash to consider applying for a mortgage to take advantage of the low rates."

 

Aside from a steady shift of cash sales to more sales with conventional financing, Barker pointed out that there were 284 non-traditional sales (short sale and foreclosed sales) in August 2009 compared to only 49 non-traditional sales in August 2015. "There simply isn't a huge presence of cash investors consuming the market anymore."

 

Activity in the upper end of the market was impressive in August too, as evidenced in the report. Overall pending sales for homes in the $2 million and above price category increased 58 percent from 19 pending sales in August 2014 to 30 pending sales in August 2015. This $2 million and above price bracket's overall median closed price also increased 14 percent from $2,850,000 in the 12-months ending August 2014 to $2,230,000 in the 12-months ending August 2015.

 

The NABOR® August 2015 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® August 2015 sales statistics are presented in chart format, including these overall (single-family and condominium) findings: 

• Overall pending sales increased 2 percent from 795 in August 2014 to 811 in August 2015.
• Overall closed sales increased 2 percent from 9,695 in the 12-months ending August 2014 to 9,870 in the 12-months ending August 2015.
• Overall median closed price increased 14 percent from $260,000 in the 12-months ending August 2014 to $297,000 in the 12-months ending August 2015.
• Overall median closed price for homes $300,000 and under increased 10 percent from $175,000 in the 12-months ending August 2014 to $192,000 in the 12-months ending August 2015.
• Overall inventory decreased 2 percent from 3,579 in August 2014 to 3,525 in August 2015.
• Overall inventory for homes $300,000 and under decreased 26 percent from 1,279 in August 2014 to 946 in August 2015.
• There is a 4.27 months supply of inventory.
• Average days on market decreased 4 percent from 81 days to 78 days.

Rick Fioretti, NABOR® President Elect and Broker Associate with Berkshire Hathaway Home Services Florida Realty, pointed out that the 52 percent increase in the days on market for homes in South Naples from 63 days to 96 days may be a result of natural market correction. "New construction in the South Naples area is impacting neighboring home values favorably. Add the increase in commercial development near the 41 and 951 exchange and the result appears to be that home sellers realized their properties may have been undervalued and are now pricing them higher."

 

Sellers in all geographic areas of Naples benefit when they partner with me, I can provide an accurate market price CMA Report for your home.

Ensure your next sale or purchase in the Naples area is a success; contact me today at Michelle@NaplesHomeSweetHome.com or by calling 239.404.7787.

I hope you have a fantastic weekend!

Michelle

 

View August 2015 Market Statistics

 

 

Michelle J. DeNomme, REALTOR, GRI

Cellular Phone:  239.404.7787

E-Mail: Michelle@NaplesHomeSweetHome.com

Berkshire Hathaway HomeServices Florida Realty

Office: 239.659.2400

E-Fax Number:  239.236.5550

Website:  www.NaplesHomeSweetHome.com        

Blog Page:   http://michelledenomme.blogspot.com  

Twitter Me: DeNommeRealtor

 

 

The Naples Area Board of REALTORS® (NABOR®) is an established organization (Chartered in 1949) whose members have a positive and progressive impact on the Naples Community. NABOR® is a local board of REALTORS® and real estate professionals with a legacy of nearly 60 years serving 5,000 plus members. NABOR® is a member of the Florida Realtors and the National Association of REALTORS®, which is the largest association in the United States with more than 1.3 million members and over 1,400 local board of REALTORS® nationwide. NABOR® is structured to provide programs and services to its membership through various committees and the NABOR® Board of Directors, all of whose members are non-paid volunteers.

 

The term REALTOR® is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribe to its strict Code of Ethics.

Let's Talk... REALTORS® Busy from Beaches to Beyond!

 

Naples, Fla. (August 21, 2015) - Activity in the Naples area housing market continued its upward momentum moving into summer as evidenced in the July 2015 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). An 8 percent increase in overall pending sales (homes under contract) from 845 in July 2014 to 913 in July 2015 is one indication REALTORS® stayed busy in July. Unlike July 2014 where both overall pending sales and overall inventory decreased 13 percent respectively, activity in July 2015 had many notable peaks and very few valleys. For example, overall inventory decreased 1 percent from 3,563 in July 2014 to 3,518 in July 2015, but inventory for single-family homes rebounded with a 7 percent increase from 1,906 single family homes in July 2014 to 2,040 single family homes in July 2015.

 

"Overall pending sales for homes over $300,000 increased 23 percent from July 2014 compared to July 2015," said Bill Coffey, Broker Manager of Amerivest Realty Naples, who also noted that overall closed sales for homes over $300,000 increased 16 percent from 4,123 homes in the 12-months ending July 2014 to 4,783 homes in the 12-months ending July 2015.

 

According to Kathy Zorn, broker/owner, Florida Home Realty, the $1 million and above price categories have also been very interesting to watch this summer. "We don't typically see a high level of activity for this segment of the market during the summer months," she said adding, "but the demand is there and appears to have shifted from condos to single family homes."

 

Zorn was referring to pockets of heightened activity in the report including a 70 percent increase in pending sales for single family homes in the $1 million to $2 million price category from 23 single-family homes in July 2014 to 39 single-family homes in July 2015, and a 68 percent increase in inventory for condominiums in the $2 million and above price category from 28 condominiums in July 2014 to 47 condominiums in July 2015.

 

Inventory continued to dissipate at double-digit rates in the low end of the market (overall inventory for homes in the $300,000 and below price category decreased 26 percent from 1,281 homes in July 2014 to 945 homes in July 2015); yet inventory in most other price categories during July was replenished. This is most apparent in the single-family homes market where the $300,000 and below price category fell 31 percent, but other categories saw big gains.

 

The NABOR® July 2015 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® July 2015 sales statistics are presented in chart format, including these overall (single-family and condominium) findings: 

• Overall pending sales increased 8 percent from 845 homes in July 2014 to 913 homes in July 2015.
• Overall closed sales increased 1 percent from 9,751 homes in the 12-months ending July 2014 to 9,879 homes in the 12-months ending July 2015.
• Overall closed sales for condominiums in the $300,000 - $500,000 price category increased 38 percent from 686 condominiums in the 12-months ending July 2014 to 947 condominiums in the 12-months ending July 2015.
• Overall median closed price increased 14 percent from $259,000 in the 12-months ending July 2014 to $295,000 in the 12-months ending July 2015.
• Overall median closed price for homes over $300,000 decreased 5 percent from $550,000 in the 12-months ending July 2014 to $520,000 in the 12-months ending July 2015.
• Overall median closed price for homes in the $2 million and above price category increased 16 percent from $2,850,000 in the 12-months ending July 2014 to $3,300,000 in the 12-months ending July 2015.
• Overall inventory decreased 1 percent from 3,563 homes in July 2014 to 3,518 homes in July 2015.
• Condominium inventory decreased 11 percent from 1,657 condominiums in July 2014 to 1,478 condominiums in July 2015.
• There is a 4.35 months supply of inventory.
• Conventional sales comprised 40 percent of all transactions in July 2015.
• Average days on market did not change between July 2014 and July 2015 to remain at 77 days.

According to Bill Poteet, owner and broker at Poteet Properties, inventory in the commercial market is down about 4 percent. Wes Kunkle, a commercial broker at Kunkle Realty, added that sales in the commercial sector are driven by the residential market.

 

"Many homeowners are feeling confident that their homes have regained some equity," noted Zorn. "This is where having a REALTOR is important because pricing a home can be a complex process. A REALTOR can guide sellers through the journey so they sell it at the right price and enjoy that equity."

 

"Years ago summer was usually a slow season for sales in this area. Not any more. The past several years have had strong real estate sales in the summer months," said Mike Hughes, NABOR® President, Vice President and General Manager of Downing-Frye Realty, Inc.

 

View July 2015 Market Statistics by clicking on this Link.

Ensure your next Listing or  Purchase in the South West Florida area is a success, contact me today at Michelle@NaplesHomeSweetHome.com or by calling 239.404.7787.

I hope you have a fantastic weekend.

Michelle.

Michelle J. DeNomme, REALTOR, GRI

Cellular Phone:  239.404.7787

E-Mail: Michelle@NaplesHomeSweetHome.com

Berkshire Hathaway HomeServices Florida Realty

Office: 239.659.2400

E-Fax Number:  239.236.5550

Website:  www.NaplesHomeSweetHome.com        

Blog Page:   http://michelledenomme.blogspot.com  

Twitter Me: DeNommeRealtor

Let's Talk Hot Off The Press...

2Q Report Indicates Housing Market is On Pace to Be a Great Year

Naples, Fla. (July 17, 2015) - According to the Second Quarter 2015 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), 60 percent of the market experienced inventory growth, and overall sales activity remained on pace with activity experienced in the second quarter of 2014. The report also indicated a 9 percent increase in pending sales (quarter over quarter) for homes priced above $300,000. These factors and other statistics in the 2Q 2015 Market Report have led broker analysts to conclude another great year is very likely.



"In this quarter last year, 44 percent of pending sales [homes under contract] were for homes in the price category over $300,000," said Brett Brown, a Broker/Salesperson for Premier Sotheby's International Realty. "The current report shows us that the number of pending sales has increased to 53 percent of the market."



Brown pointed out that from 2010 to 2012 80 percent of all pending sales were composed of homes under $300,000. But second quarter reports for 2014 and 2015 identify a shift took place in pending sales activity to homes at higher price points within the market. And while inventory in the under $300,000 price category decreased 24 percent in the 2Q of 2015 (the same rate as in the 1Q of 2015); this price segment no longer makes up the majority of the market's inventory.



Broker analysts contend that the market was quite different 10 years ago with a lot of flipping and loose financing going on. But the consumer and industry setting is different today. The 2Q 2015 Market Report revealed where the differences occurred like median closed price, where prices for homes between $300,000 and $2 million leveled out increasing or decreasing 0 to 2 percent. Other differences revealed in the 2Q Report are a gradual increase in financed homes to 38.3 percent of the market in June 2015, and a non-traditional market (short sales and foreclosures) that is dwindling at just 7 percent of the market.  



"Prior to 2014, prices in all segments were going up," said Tom Bringardner, Jr., President/CEO of Premier Commercial. "But a side-by-side comparison of overall activity for the first six months of last year to this year signifies a different climate where the market has reached stabilization."



According to the 2Q 2015 Market Report, the Naples area experienced a 14 percent increase in overall median closed price from $255,000 in the 12-months ending 2Q of 2014 to $290,000 in the 12-months ending 2Q of 2015. Yet this increase was driven by increases at both ends of the market spectrum during this time period; i.e., an 11 percent increase in homes under $300,000, and a 15 percent increase in homes $2M and above. Incidentally, the median closed price for homes in price categories over $300,000 and under $2M decreased 1 percent.



Pockets of market highs and lows will continue to appear in the area, as demand and location continue to be major market influencers. For example, the report showed an 83 percent increase in inventory for condominiums in the $2M and above price category from 29 units in the 2Q of 2014 to 53 units in the 2Q of 2015, and a 23 percent decrease in condominium inventory in the Naples Beach area from 476 units in the 2Q of 2014 to 368 units in the 2Q of 2015.



Inventory for single-family homes continued to rise in the 2Q of 2015 with a 9 percent increase from 1,964 single-family homes in the 2Q of 2014 to 2,133 single-family homes in the 2Q of 2015. Whereas the condominium market saw an 11 percent decrease in inventory for 2Q 2015 from 1,759 condominiums in the 2Q 2014 to 1,565 condominiums in the 2Q of 2015.



The NABOR® 2Q 2015 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® 2Q 2015 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:

• Overall pending sales decreased 4 percent from 2,949 in the 2Q of 2014 to 2,843 in the 2Q of 2015.
• Overall closed sales remained flat with no increase or decrease reported in the 2Q of 2015.
• Closed sales for condominiums in the $300,000 to $500,000 price category increased 38 percent from 682 in the 2Q of 2014 to 938 in the 2Q of 2015.
• Overall median closed price increased 14 percent from $255,000 in the 12-months ending 2Q of 2014 to $290,000 in the 12-months ending 2Q of 2015.
• Overall inventory decreased 1 percent from 3,723 homes in the 2Q of 2014 to 3,698 homes in the 2Q of 2015.
• Overall inventory for homes in the under $300,000 price category decreased 24 percent from 1,366 homes in the 2Q of 2014 to 1,036 homes in the 2Q of 2015.
• Inventory for single-family homes in the $500,000 to $1M price category increased 32 percent from 456 single-family homes in the 2Q of 2014 to 604 single-family homes in the 2Q of 2015.
• Average days on market decreased 20 percent from 94 days in the 2Q of 2014 to 75 days in the 2Q of 2015.  

The NABOR® June 2015 Market Report was also released and reflected these overall (single-family and condominium) findings:

• Overall pending sales increased 5 percent from 840 homes in June 2014 to 882 homes in June 2015.
• Overall closed sales remained flat with no increase or decrease reported in the 12-months ending June 2015.
• Overall median closed price increased 14 percent from $255,000 in the 12-months ending June 2014 to $290,000 in the 12-months ending June 2015.
• Overall inventory decreased 1 percent from 3,723 homes in June 2014 to 3,698 homes in June 2015.
• Average Days on market decreased 22 percent from 94 days in June 2014 to 73 days in June 2015.

"Overall inventory is almost the same number as it was this time last year. That is amazing when you consider the fact that we have had 9,850 closings over the last twelve months. Overall, this tells you that the properties are being listed almost as fast as we are selling them. Certainly we would like to see more listings come on the market than the 3,698 properties that are currently listed," said Mike Hughes NABOR President, Vice President and General Manager of Downing-Frye Realty, Inc. "If there is a perception that inventory is dramatically shrinking, the 2Q Market Report shows us that this observation is unfounded."



"I saw a lot more locals selling and buying homes in the second quarter of 2015," said Steve Barker, Advising Broker for Equity Realty, who added that market conditions are right for this type of transition. "People are no longer underwater in their homes and are confident it's a good time to sell and move into a new community."

As always if you have any questions please feel free to contact me by e-mail or by calling 239.404.7787.

I hope you have a fantastic day!

Michelle



View June 2015 Market Statistics

View 2Q 2015 Market Statistics

 

Michelle J. DeNomme, REALTOR, GRI

Cellular Phone:  239.404.7787

E-Mail: Michelle@NaplesHomeSweetHome.com

Berkshire Hathaway HomeServices Florida Realty

Office: 239.659.2400

E-Fax Number:  239.236.5550

Website:  www.NaplesHomeSweetHome.com        

Blog Page:   http://michelledenomme.blogspot.com  

Twitter Me: DeNommeRealtor

Let's Talk... Hot off the Press!

Traditional Sales of Homes Highest on Record

Naples, Fla. (May 22, 2015) - What makes a room full of real estate brokers happy? Record-breaking sales! This realization surfaced during a recent meeting where 10 NABOR® brokers reviewed the April 2015 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). The report showed that traditional sales comprised 94% of all closed sales as compared to non-traditional sales (foreclosures or short sales).

                                                                                           

Carmen Vasquez, owner/broker U.S. Prime Realty, pointed out that, "April 2015 had 1,095 traditional sales. This is the highest number of traditional sales in a month since we started tracking the NABOR® numbers back in 2009."  

 

Veteran Broker and Principal at Naples Realty Services, Inc. John Steinwand concurred with Vasquez and illustrated further that, "Not only did April register the highest percentage of traditional sales since 2009, but the data revealed the highest total number of closed sales since July 2009, and the lowest level of distressed property closings in the past six years. Just 10 short sales and 57 foreclosed sales were closed this April versus 330 total distressed sales back in July of 2009."

 

April was a remarkable month for the real estate market with notable results in pending sales (properties under contract) of condominiums in the $2 million and above price category, which saw a 58 percent increase from 12 pending sales in April 2014 to 19 pending sales in April 2015. Relative to this increase was an increase in the same category's inventory, which rose by 74 percent from 34 condos in inventory in April 2014 to 59 condos in inventory in April 2015.

 

Further, the April 2015 Market Report indicated that overall closed sales had positive gains in all price categories above $300,000 with the $300,000 to $500,000 category capturing the highest gain - 21 percent from 1,787 in the 12-months ending April 2014 to 2,162 in the 12-months ending April 2015.

 

The overall median closed price increased 13 percent in April from $250,000 in the 12-months ending April 2014 to $283,000 in the 12-months ending April2015. This was fueled mostly by activity on both ends of the price spectrum. Homes in the $0 to $300,000 price category experienced a 10 percent increase in median home price from $168,000 in the 12-months ending April 2014 to $185,000 in the 12-months ending April 2015, while homes in the $2 million and above price category experienced a 9 percent increase in median home price from $2,900,000 in the 12-months ending April 2014 to $3,175,000 in the 12-months ending April 2015.

 

According to Cindy Carroll, SRA, with the real estate appraisal and consultancy firm Carroll & Carroll, Inc., "We can see some real trends when we look at the market with an historic comparison. For example, in the fall of 2013, the median closed price for single-family homes in the $0 to $300,000 price range increased 18 percent. For April 2015, there was only a 9 percent increase from $182,000 in the 12-months ending April 2014 to $199,000 in the 12-months ending April 2015."

 

The self-correcting trend became even more apparent when Carroll compared activity from the report by neighborhood, "In July 2014, the median closed price for single-family homes in the Naples Beach area increased 36 percent. In April 2015, this area saw an 11 percent increase. I think the market played catch up between 2013 and 2014 and we are seeing a tempering of it now."

 

The NABOR® April 2015 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® April 2015 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:

• Overall pending sales decreased 2 percent from 1,231 in April 2014 to 1,210 in April 2015.
• Overall closed sales remained flat with no increase or decrease reported on a 12-months ending basis.
• Overall closed sales in the $300,000 to $500,000 price category increased 21 percent from 1,787 homes in the 12-months ending April 2014 to 2,162 homes in the 12-months ending April 2015.
• Overall median closed price increased 13 percent from $250,000 in the 12-months ending April 2014 to $283,000 in the 12-months ending April 2015.
• Overall inventory decreased 3 percent from 4,157 homes in April 2014 to 4,040 homes in April 2015.
• Inventory for single-family homes increased 4 percent from 2,206 single-family homes in April 2014 to 2,289 single-family homes in April 2015.
• Inventory for condominiums decreased 10 percent from 1,951 condominiums in April 2014 to 1,751 condominiums in April 2015.
• Average days on market decreased 28 percent from 99 homes in April 2014 to 71 homes in April 2015.

"Overall, April 2015 had a 5.06-month supply of inventory compared to a 34.78-month supply in April 2007," said Bill Coffey, Broker Manager of Amerivest Realty Naples.

 

Many of the brokers who analyzed the April 2015 Market Report had recently returned from the National Association of REALTORS® Legislative Meetings & Trade Expo in Washington, DC, and concurred that sales activity in the Naples area, as also reflected in the report, is in line with the national average.

 

However, the April 2015 Market Report by NABOR® showed an 18 percent decline in the days on market to 76 days from 93 days a year ago. Yet according to a REALTOR® Confidence Index report published by Lawrence Yun, Senior Vice President and Chief Economist with the National Association of REALTORS®, the national average in March 2015 was 52 days.

As alwayds if you have any questions please feel free to contact me by e-mail Michelle@NaplesHomeSweetHome.com or by calling 239.404.7787 To view the full report just click the Link... View April 2015 Market Statistics

I hope you have afantastic weekend,

Michelle

Michelle J. DeNomme, REALTOR, GRI

Cellular Phone:  239.404.7787

E-Mail: Michelle@NaplesHomeSweetHome.com

Berkshire Hathaway HomeServices Florida Realty

Office: 239.659.2400

E-Fax Number:  239.236.5550

Website:  www.NaplesHomeSweetHome.com        

Blog Page:   http://michelledenomme.blogspot.com  

Twitter Me: DeNommeRealtor