Naples FL Blog

Naples FL August 2012 Real Estate Statistics
October 3rd, 2012 5:46 PM

The Naples Board of Realtors® released the August 2012 real estate statistics recently.  The good news is that the iventory has been deceasing and median prices have been increasing.  Let's take a look at the statistics comparing the 12-month period ending August 2011 to the 12-month period ending August 2012.

CONDOMINIMUMS

Sold Price Ranges

% of Sales

Months of Inventory

$0 - $300K   

73.4%    

 7.28

$300K - $500K

12.25%

11.68

$500K - $1M   

  9.35%

14.78

$1M - $2M      

  3.69%

15.16

$2M+

  1.27 %

16.37

Median Sale increase from $160K to $166K

A "normal" real estate market is said to have 6 months worth of inventory. Condos under the $300K price range are rapidly approaching a "normal" market.  The percentage of sales are still being driven by the under $300K market. 

SINGLE FAMILY HOMES

Sold Price Ranges

% of Sales

Months of Inventory

$0 - $300K   

    62.54%    

 5.15

    $300K - $500K

16.08%

9.97

$500K - $1M   

11.90%

12.99

$1M - $2M      

 5.75%

14.58

$2M+

  3.71 %

20.606

Median Sale increase from $210K to $225K

The "normal" market has appeared in the under $300K single family home market.  The $300K - $500K has a 9.97 month inventory.  This price segment is slowly coming to a "normal" market inventory.

An article on September 13, 2012 in the Naples Daily News discussed how foreclosures are on the rise in Collier County. There has been a back log of foreclosures due to the slow down in filings because of the "robo-signing" problems.  If these foreclosures begin to come on the market, we will see the inventory start to rise again.

There has also been an interesting article talking about a new housing development that may be coming to Naples.  Signature Communities has talked about putting in a gated community, Lighthouse Point,  with some commerical and office space at the southeast corner of Goodlette-Frand Road and Central Ave.  Minto Communities is planning on building Sabal Bay in east Naples.  Minto is also planning on building Bonita Isles in Bonita Springs.

While I am thrilled to read about new construction starts in Collier County, I'm still concerned about the shadow inventory of short sales and foreclosures that will be coming on the market.  These properties could drive inventories back up.

Would you like to own a home in Naples? Search here, once at the search page, you can search by development or map area, save your search and new listing updates will be e-mailed to you.

Should you be thinking of selling your home in Naples and would like a candid assessment of what it would take to sell your home in today's market, I would be happy to provide you with a free market evaluation. Feel free to give me a call at 239-594-2780 or e-mail me at Lynn@NaplesBuys.com.

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About the author:

Lynn Wilber is a Real Estate Professional who lives in Naples. Her 34 years of real estate experience and her area expertise have been valuable resources for Naples Sellers and Buyers. For more information, please contact Lynn Wilber or call 239-594-2780.

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Posted by Lynn H. Wilber on October 3rd, 2012 5:46 PMPost a Comment

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