Friday, January 22, 2016



Let’s Talk… Hot Off the Press…  

Market Confidence & Stability Reflected in 2015 Annual Report

Contacts: Rick Fioretti, NABOR® President, (239) 597-1666,
        Marcia Albert, NABOR® Director of Marketing, (239) 597-1666

Naples, Fla. (January 22, 2015) - Activity in the housing market for much of Collier County in 2015 looked like year-end activity in 2014, according to broker analysts who reviewed the Annual, 4th Quarter and December 2015 Market Reports released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island).

Much like 2014, and as evidenced in the Annual 2015 Market Report, overall pending sales (homes under contract) and closed sales in 2015 were steady in all price segments above $300,000, with the $300,000 - $500,000 price category experiencing the most dramatic increase. The median closed price for homes on both ends of the price spectrum rose the sharpest in 2015, while all remaining price categories in the middle of the market stayed relatively balanced. And inventory for all price categories grew in 2015, with the exception of the $300,000 and below price segment, which saw a reduction of 261 homes.

"The year-end report indicates that we just had back-to-back great years for real estate sales in the Naples area," said Mike Hughes, Vice President and General Manager for Downing-Frye Realty, Inc. "While it is tough to make predictions for the future, the Naples area continues to be desirable for buyers that are looking to make a purchase in the state of Florida."

According to the 2015 year-end report, overall pending sales decreased 1 percent in 2015 from 10,494 homes in 2014 to 10,366 homes in 2015. However, pending sales in all price categories above $300,000 increased. Of note, pending sales in the $300,000 - $500,000 price category rose 21 percent from 2,137 homes in 2014 to 2,580 homes in 2015. Likewise, overall closed sales decreased 2 percent from 9,902 homes in 2014 to 9,751 homes in 2015. And similar to pending sales, overall closed sales in all price categories above $300,000 increased, with the $300,000 - $500,000 price category experiencing the largest increase (20 percent) going from 1,978 homes in 2014 to 2,382 homes in 2015. 

The median closed price rose 14 percent from $270,000 in 2014 to $308,000 in 2015. Driven mostly by homes $300,000 and below (which rose 12 percent from $179,000 in 2014 to $200,000 in 2015), and homes $2 million and above (which rose 9 percent from $2,950,000 in 2014 to $3,212,000 in 2015), the overall median closed price for price segments in the middle of the market remained temperate.

According to Coco Waldenmayer, managing broker at John R. Wood Realtors, the report showed a significant price increase in the $2 million and above single-family home market in 2015. She explained, "This category experienced a 12 percent increase in price from $3,000,000 in 2014 to $3,350,000 in 2015, despite also having a 12 percent increase in its inventory."

Hughes echoed similar surprise in closed sales activity within the single-family home market, adding that the report also showed "the number of closed sales in the lowest reported price category [$300,000 and below] dropped by 364 homes, yet closed sales for single-family homes in the next category increased by only 205 homes."

Hughes said the shortage in inventory on the low end continued to affect closed sales activity in every geographic location in 2015. For example, South Naples (34112, 34113), East Naples (34114, 34117, 34120, 34137) and the Immokalee/Ave Maria area (34142) were the only geographic areas reported to see overall pending and closed sales growth. In fact, overall closed sales in the Immokalee/Ave Maria geographic area increased by 70 percent in 2015. Even more noteworthy about this area is that the median closed price for single-family homes increased by 84 percent in 2015.

The NABOR® 2015 Annual 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® Annual 2015 sales statistics are presented in chart format, including these overall (single-family and condominium) findings: 
• Overall pending sales decreased 1 percent from 10,494 homes in 2014 to 10,366 homes in 2015.
• Pending sales for single-family homes in the $300,000 and below price category decreased 30 percent from 2,394 single-family homes in 2014 to 1,686 single-family homes in 2015.
• Overall closed sales decreased 2 percent from 9,902 homes in 2014 to 9,751 homes in 2015.
• Closed sales for condominiums in the $300,000 to $500,000 price category increased 26 percent from 773 condominiums in 2014 to 972 condominiums in 2015.
• Overall median closed price increased 14 percent from $270,000 in 2014 to $308,000 in 2015.
• Overall median closed price for homes over $300,000 decreased 3 percent from $536,000 in 2014 to $520,000 in 2015.
• Overall median closed price for homes in the Immokalee/Ave Maria geographic area increased 42 percent from $151,000 in 2014 to $215,000 in 2015.
• Overall inventory increased 1 percent from 4,351 in 2014 to 4,408 in 2015.
• There is a 5.42 months supply of inventory.
• Average days on market decreased 10 percent from 87 days in 2014 to 78 days in 2015.
• Average days on market for condominiums in the $2 million and above price category decreased 40 percent from 136 days in 2014 to 82 days in 2015.
Many brokers believe uncommonly warm weather in northern states delayed buyer migration to Naples in the fourth quarter 2015, contributing to the 12 percent decrease in closed sales for the fourth quarter of 2015. However, overall activity in 2015 made great strides.

"We currently have a 5.42-month supply of inventory, which is up 6 percent over 2014 [5.12]," said Cindy Carroll, SRA, with the real estate appraisal and consultancy firm Carroll & Carroll, Inc. "Granted, we are nowhere near our historic peak in 2008 when we had a 3-years supply of inventory, but this is definitely the first year since the recession that we've seen an increase."

The report also showed traditional sales (versus short sale and foreclosed property sales) held steady at 92 percent of all transactions in the last three months of 2015. And conventional sales (properties that obtained financing) increased 3 percent to consume 35.7 percent of the market in December 2015 compared to 32.6 percent in December 2014.

In January 2015, broker analysts predicted a self-correcting housing market based on activity in 2014. Today, broker analysts assessing overall activity in 2015 say they remain confident that the local housing market will continue to perform in a steady manner.

Let’s talk soon… As always I am a phone call away or feel free to contact me by e-mail with any questions you may have about your next move here in Naples.
I hope you have a fantastic 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



   


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.
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Thursday, January 21, 2016




 JANUARY 6, 2016 11:29 AM  MIAMI HERALD

Let's Talk...

Survey: 2016 won’t turn real estate market upside down in South Florida

Real estate insiders expect a strong 2016, according to Berger Singerman survey

BY NICHOLAS NEHAMAS
Real estate insiders expect 2016 to be a strong year for South Florida despite slowing sales and price gains in the condo market, 
according to a survey conducted by Berger Singerman.

The law firm polled about 100 top developers, Realtors, investors, lenders and contractors for their take on the new year. 

“The overall consensus is that things are going to continue in a similar direction,” said Jeffrey Margolis, a partner at the firm. “2016’s going to look a lot like 2015. So while everyone is asking, ‘Are we in a bubble? Is it all going to come crashing down?’, the smart money says that’s not the case.”
About 42 percent of respondents said 2016 will be “somewhat better” than 2015. About 37 percent said there would be “no change” in the market next year. Only 13 said they expect a “somewhat worse” year.

The reason growth won’t pick up much? Struggling economies in Latin America and Europe are holding back the foreign investment that has fueled South Florida real estate since the recession, particularly the new condo market, an important local economic driver. (Single-family homes are still selling at a record pace because of tight inventory.)

More than 60 percent of respondents pegged “global economic conditions and uncertainty” as their top reason for a lack of confidence in the market.

The poll also revealed that developers plan to build more than just condo towers. While 26 percent of respondents said condo development will produce the highest returns in 2016, the hotel and hospitality (21 percent) and retail (20 percent) sectors weren’t far behind.
That’s a change from previous years, said Berger Singerman partner Marc Shuster.
“We’re definitely seeing more diversity in the market,” Shuster said. “Following the multi-family rebound, people have a feeling that these other areas are going to take off too.”

Michelle J. DeNomme, REALTOR, GRI
Cellular Phone I  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
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Saturday, December 19, 2015

 Let's Talk Hot Off the Press… November Market Activity Trumpets A Familiar Tune



Naples, Fla. (December 18, 2015) - The November 2015 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), showed many performance similarities to the same report from November 2014. And those similarities left broker analysts who review the report with a sense of satisfaction because they predicted a continuation of market stability in November 2014. If history is any indication of future performance, then activity reflected in the November 2015 Market Report may indicate a market that is poised to enjoy stable activity in the coming months.

"The only big difference between November 2014 and November 2015 was inventory," said Brenda Fioretti, Managing Broker at Berkshire Hathaway HomeServices Florida Realty, who went on to add that overall inventory in November 2015 increased in three of the five price segments reported. "Overall inventory decreased by 1 percent from 4,136 homes in November 2014 to 4,095 homes in November 2015. But this is compared to a 10 percent decrease in inventory from November 2013 to November 2014. And yet the report indicated inventory is on the rebound in the single-family home market, which showed a 5 percent increase from 2,217 homes in November 2014 to 2,319 homes in November 2015."

Fioretti also pointed out that overall closed sales for 12-months ending November 2015 reflected nearly the same number of sales as 12-months ending November 2014. Overall closed sales increased 1 percent from 9,724 homes in the 12-months ending November 2014 to 9,800 homes in the 12-months ending November 2015. Interestingly, closed sales in the 12-months ending November 2013 to November 2014 dropped 2 percent.

Overall pending sales for all price categories above $300,000 increased in November 2015, with the $1 million to $2 million price category showing the largest growth at 27 percent from 45 homes in November 2014 to 57 homes in November 2015.

"Homes under $300,000 are going fast," said Kathy Zorn, broker/owner, Florida Home Realty. "Days on market for that segment dropped 11 percent from 57 to 51 days, which doesn't leave a lot of time for serious buyers to shop around." 

In response, Mike Hughes, Vice President and General Manager of Downing-Frye Realty,recommended buyers that are looking in this price category should "move faster when submitting an offer to get ahead of other potential buyers that might be looking at the same property. With a declining inventory pool in the low end, there appears to be no shortage of buyers for the properties under $300,000. Competition is coming from first time homebuyers, boomerang buyers and retirees living on a fixed income. The low end is also popular with investors."

Overall inventory in the $300,000 and below price segment decreased 20 percent from 1,372 homes in November 2014 to 1,103 homes in November 2015. Yet since November 2013, inventory in this price segment has dropped 42 percent from 1,917 in November 2013 to 1,103 in November 2015.This segment also represented 50 percent of all closed sales in the 12-months ending November 2015.

"Foreclosures are the lowest they've ever been since NABOR® began tracking activity," said Bill Coffey, Broker Manager of Amerivest Realty Naples. "There were only 34 foreclosures and 8 short sales reported last month."

The NABOR® November 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. This summary can be found at www.naplesarea.com. TheNABOR® November 2015 sales statistics are presented in chart format, including these overall (single-family and condominium) findings: 
• Overall pending sales decreased 3 percent from 825 homes in November 2014 to 804 homes in November 2015.
• Overall closed sales increased 1 percent from 9,724 homes in the 12-months ending November 2014 to 9,800 in the 12-months ending November 2015.
• Closed sales for single-family homes in the $300,000 to $500,000 price category increased 23 percent from 1,163 single-family homes in the 12-months ending November 2014 to 1,430 single-family homes in the 12-months ending November 2015.
• Closed sales for condominiums in the $300,000 to $500,000 price category increased 32 percent from 734 condominiums in the 12-months ending November 2014 to 968 condominiums in the 12-months ending November 2015.
• Overall median closed price increased 15 percent from $265,000 in the 12-months ending November 2014 to $305,000 in the 12-months ending November 2015.
• Overall median closed price for homes $2 million and above increased 10 percent from $2,950,000 in the 12-months ending November 2014 to $3,250,000 in the 12-months ending November 2015.
• Overall inventory decreased 1 percent from 4,136 in November 2014 to 4,095 in November 2015.
• Single-family home inventory increased 5 percent from 2,217 single-family homes in November 2014 to 2,319 single-family homes in November 2015.
• There is a 5 months supply of inventory.
• Average days on market decreased 1 percent from 78 days in November 2014 to 77 days in November 2015.
The November 2015 Market Report showed days on market for the $2 million and above price category increased 124 percent from 99 days in November 2014 to 222 days in November 2015. Inventory in this category also increased by 21 percent from 401 homes in November 2014 to 484 homes in November 2015. 

Days on market for all other price categories decreased. However, days on market by geographic location were more varied as shown in areas like Naples Beach and North Naples, which both saw increases over 20 percent.


Let's talk soon... As always if you have any questions please feel free to contact me by e-mail or by calling 239.404.7787. When you are ready to Buy or place your home on the market, look to Me for the experience and local knowledge you need to ensure your next sale or purchase in the Naples area is a success. To view the full report please click on the link below.
Let's Talk soon.
Michelle







Michelle J. DeNomme, REALTOR, GRI
Cellular Phone I  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



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 5,900 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.
 Hot Off the Press...



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Friday, November 20, 2015

Let's Talk...


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...


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
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Wednesday, November 11, 2015


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
Berkshire Hathaway HomeServices Florida Realty
Office: 239.659.2400
E-Fax Number:  239.236.5550
Website:  www.NaplesHomeSweetHome.com        
Twitter Me: DeNommeRealtor
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Monday, October 26, 2015



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.
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