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
Berkshire Hathaway
HomeServices Florida Realty
Office: 239.659.2400
E-Fax Number: 239.236.5550
Website: www.NaplesHomeSweetHome.com
Twitter Me:
DeNommeRealtor
