Momentum is picking up and summer is emerging as a season of strong sales 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).

The overall available inventory decreased to 7,705 properties in May 2011 down from 9,006 properties in May 2010. “The decrease in inventory is having a positive effect on overall prices and is driving the median closed price up,” said Steve Barker, REALTOR® with Amerivest Realty.

The median closed price for single-family homes for the 12 months ending May 2011 increased 6 percent to $210,000 compared to $199,000 for the 12 months ending May 2010. The overall median closed price for single-family homes increased 15 percent to $242,000 in May 2011 compared to $210,000 in May 2010.

“With its strong market and rising prices, Naples is the exception to the two-thirds of the country experiencing real estate challenges, just as predicted by Dr. Lawrence Yun, Chief Economist of the National Association of REALTORS®,” said Phil Wood, President of John R. Wood REALTORS.

The May report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. The statistics are presented in chart format, along with the following analysis:

 Overall pending sales increased 8 percent in May 2011 with 955 contracts compared to 887 contracts in May 2010.

 Overall closed sales increased 4 percent in May 2011 with 838 sales compared to 803 sales in May 2010.

 Single-family home pending sales increased 8 percent in May 2011 with 515 contracts compared to 477 contracts in May 2010.

 Condo sales increased 9 percent with 450 sales in May 2011 compared to 412 sales in May 2010.

According to Brenda Fioretti, NABOR President, and Managing Broker of Prudential Florida Realty, “The increase in sales is found in the traditional market, not short sales or foreclosures which now make up less than 30 percent of the properties sold.”

“For the 12 months ending May 2011, condo sales increased 19 percent and the $1 million to $2 million category had an astounding increase of 164 percent, with 18 more units sold for the 12 months ending May 2011 than in the 12 months ending May 2010,” said John Steinwand, President of Naples Realty Services.

To view the entire report, visit www.NaplesArea.com

The Naples Area Board of REALTORS® (NABOR) is an established organization (Chartered 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 4,000 plus member-customers. NABOR is a member of Florida REALTORS® and the National Association of REALTORS®, which is the largest trade association in the United States with more than 1.3 million members and over 1,400 local boards 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.

Labels: condos, dunes, high end, high rise, life style, lifestyle, Love the Dunes, naples, real estate, southwest florida

Report Shows Inventory Continues to Drop

Condo pending sales in the Naples Beach area are 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).

“Overall condo pending sales are up 6 percent. The Naples Beach area contributed significantly to the increase with a 43 percent rise in that area of condo pending sales from April 2010 to April 2011,” stated Kathy Zorn, Broker/Owner of Florida Home Realty. There were 156 contracts in the Naples Beach area in April 2011 compared to 109 contracts in April 2010.

Naples Beach was recently recognized by national media as one of the top five most relaxing beaches in the world. It was the only beach in Florida listed on the “Most Relaxing Beaches” list.

“Overall pending and closed sales in the $2 million and above price range are increasing. Astute buyers recognize that this is a good time to buy in the luxury market,” said Steve Barker, REALTOR® with Amerivest Realty. Pending sales in the $2 million and above price range increased 9 percent and closed sales increased 35 percent from April 2010 to April 2011.

“Traditional sales, those that are not short sales or foreclosures, continue to climb. They now make up 71 percent of the market, the largest percentage of traditional sales we have seen in two years,” said Jo Carter, President of Jo Carter and Associates.

The April report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. The statistics are presented in chart format, along with the following analysis:

 For the 12 months ending April 2011, overall pending sales increased 2 percent with 9,839 contracts compared to 9,660 contracts for the 12 months ending April 2010.

 For the 12 months ending April 2011, single-family home sales in the $500,000 to $1 million price range increased 9 percent with 429 sales compared to 392 sales for the 12 months ending April 2010.

 Condo sales increased 7 percent with 1,114 sales in the first quarter of 2011 compared to 1,042 sales in the first quarter of 2010.

 The available inventory decreased 11 percent to 8,214 properties in April 2011, down from 9,239 properties in April 2010.

According to Mike Hughes, Vice-President of Downing-Frye Realty, “This is the first time in four years we have seen the overall inventory decrease to the 8,200 range. This is encouraging.”

To view the entire report, visit www.NaplesArea.com

The Naples Area Board of REALTORS® (NABOR) is an established organization (Chartered 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 member-customers. NABOR is a member of Florida REALTORS® and the National Association of REALTORS®, which is the largest trade association in the United States with more than 1.3 million members and over 1,400 local boards 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.

Labels: condos, current market, dunes, high end, high rise, life style, lifestyle, Love the Dunes, naples, real estate, southwest florida

Report Shows Median Closed Price for Properties over $300,000 Increases

Inventory continues on a downward trend 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).

The available inventory declined to 8,762 available properties in the first quarter of 2011 down from 9,557 in the first quarter of 2010.

“The decline in inventory is a result of the slowing pace of properties coming to the market and the current inventory selling more rapidly,” stated Phil Wood, President of John R. Wood REALTORS®.

“Over the past three years, the months of inventory in the Naples area has continued to decline. In March of 2008 we had just under 38 months of inventory on the market for sale, and today we are hovering in a much healthier range of 12 months of inventory,” said Tom Bringardner, President/CEO of Premier Commercial, Inc.

The median closed price for properties over $300,000 increased to $575,000 in the first quarter of 2010 up from $525,000 in the first quarter of 2010.

“For properties over $300,000, the median closed price jumped 10 percent from quarter to quarter and 5 percent for the 12 months ending March 2011. Pending sale statistics suggest the median closed price will continue to climb,” said John Steinwand, President of Naples Realty Services.

The first quarter report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. The statistics are presented in chart format, along with the following analysis:

• Overall pending sales saw an 8 percent increase, with 3,630 contracts in the first quarter of 2011 compared to 3,346 contracts in the first quarter of 2010.

• Single-family pending sales increased 6 percent with 1,763 contracts in the first quarter of 2011 compared to 1,667 contracts in the first quarter of 2010.

• Condo sales increased 7 percent with 1,114 sales in the first quarter of 2011 compared to 1,042 sales in the first quarter of 2010.

According to Mike Hughes, Vice-President of Downing-Frye Realty, “We may be seeing a glimpse of the kind of year 2011 will be. The statistics are encouraging and the sales activity continues to remain high.”

The March report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. The statistics are presented in chart format, along with the following analysis:

• Overall home sales increased 5 percent to 936 sales in March 2011 compared to 890 sales in March 2010.

• Overall single-family pending sales saw a 6 percent increase, with 732 in March 2011 compared to 689 in March 2010.

• Condo sales saw a 17 percent increase with 525 sales in March 2011 compared to 447 sales in March 2010.

To view the entire report, visit www.NaplesArea.com

The Naples Area Board of REALTORS® (NABOR) is an established organization (Chartered 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 member-customers. NABOR is a member of Florida REALTORS® and the National Association of REALTORS®, which is the largest trade association in the United States with more than 1.3 million members and over 1,400 local boards 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.

Labels: condos, current market, dunes, high end, high rise, life style, lifestyle, Love the Dunes, naples, real estate, southwest florida

The median closed price for single-family homes continues to rise with February statistics showing a 10 percent year-over-year gain. 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), lower inventory is driving price increases and key indicators show the market firming up.
“February marks the eighth consecutive month that the overall single family home median closed price increased, with the $300,000 and under market leading the way,” said Phil Wood, President of John R. Wood REALTORS®. The median closed price of single-family homes increased 10 percent to $205,000 for the 12 months ending February 2011 up from $186,000 for the 12 months ending February 2010.

The overall inventory in the Naples area decreased five percent in February 2011 to 9,213 available properties compared to 9,682 in February 2010.

“As the available inventory declines, buyers are left with fewer selections so they are now competing for choice properties. This results in the median closed price increasing,” said Steve Barker, REALTOR with Amerivest Realty.

The report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. The statistics are presented in chart format, along with the following analysis:

 Overall pending sales increased 9 percent with 1,223 contracts in February 2011 compared to 1,122 contracts in February 2010.

 For the 12 months ending February 2011 overall closed sales in the $1 million to $2 million price category increased 29 percent with 338 sales compared to 262 sales for the 12 months ending in February 2010.

 Condo closed sales increased 10 percent with 3,885 sales for the 12 months ending February 2011 compared to 3,535 sales for the 12 months ending February 2010.

“The median closed price for condos declined, which resulted in a 17 percent increase in pending sales. We expect the single-family home trend of increased median closed prices to follow for condos, as condo pending and closed sales continue to rise and inventory declines,” said John Steinwand, President of Naples Realty Services. Condo pending sales increased 17 percent with 635 contracts in February 2011 compared to 544 contracts in February 2010.

To view the entire report, visit http://www.NaplesArea.com

The Naples Area Board of REALTORS® (NABOR) is an established organization (Chartered 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 member-customers. NABOR is a member of the Florida Association of REALTORS® and the National Association of REALTORS®, which is the largest trade association in the United States with more than 1.3 million members and over 1,400 local boards 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.

Labels: condos, current market, dunes, high end, high rise, life style, lifestyle, Love the Dunes, naples, real estate, southwest florida

2010 A TURNING POINT

Report shows 2010 Closed Sales Up 10 Percent Over 2009

NAPLES, Fla.-January 14, 2011- The year 2010 has shown healthy housing market gains in the Naples area according to the Naples Area Board of REALTORS® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island).

The annual statistics compiled by NABOR show increases in overall pending and closed sales, inventory declining and an increase in the median closed price.

“2010 was a strong year despite the unprecedented challenges we faced. The news of the oil spill in the Gulf, the bank freeze on foreclosed homes and the end of the homebuyer tax credit left many sitting on the fence due to uncertainty. In the face of those challenges, the market showed great resilience,” said Mike Hughes, Vice-President of Downing-Frye Realty.

Overall closed sales increased 10 percent to 7,840 sales in 2010 compared to 7,126 sales in 2009. “Closed sales in 2010 showed double-digit increases over the 2009 figures in every price category above $300,000,” said Jo Carter, President of Jo Carter & Associates.

According to NABOR President and Managing Broker of Prudential Florida Realty, Brenda Fioretti, “The most improved segment of our market is the $1 million and above price category. In the $1 million to $2 million price segment, pending sales increased 29 percent and closed sales increased 33 percent.”

The report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. The statistics are presented in chart format, along with the following analysis:

• Overall pending sales increased 4 percent with 9,318 contracts in 2010 compared to 8,933 contracts in 2009.

• Single-family home sales increased 3 percent to 3,959 sales in 2010 compared to 3,847 sales in 2009.

• Condo sales increased 18 percent to 3,881 sales in 2010 compared to 3,270 sales in 2009.

• The median closed price increased 1 percent overall to $180,000 up from $179,000 in 2009. For properties over $300,000, the median closed price increased 4 percent to $544,000 up from $525,000 in 2009.

Home sales grew steadily in 2010 resulting in a decline in the months of inventory. “The level of housing inventory has decreased for the fourth consecutive year. This is helping to bring the market back into balance,” said Steve Barker, Managing Broker of Amerivest Realty.

To view the entire report.

The Naples Area Board of REALTORS® (NABOR) is an established organization (Chartered 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 member-customers. NABOR is a member of the Florida Association of REALTORS® and the National Association of REALTORS®, which is the largest trade association in the United States with more than 1.3 million members and over 1,400 local boards 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.
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Labels: condos, current market, dunes, high end, high rise, life style, lifestyle, Love the Dunes, naples, real estate, southwest florida

The Year in Review from Love The Dunes Team

2010 has ended, and, as is our practice, we want to give our readers a good picture of the Naples real estate market. Though the media is filled with Doom and Gloom reports, the real story in our market place turned out to be pretty good.

The total sales recorded in Sunshine MLS for Residential listings were 7833, January 1 through December 31. That’s a solid 10% growth year over year, with 2009 showing 7128 sales during the same period. Furthermore, the gains were present in every category. Condos showed the strongest growth, +18% and single family homes were up 3%. Since most of our readers live in high rises, I also checked that sub category, and found high rise sales were up 25% for a total 421 recorded transaction on Sunshine MLS.

Digging deeper, we found only one category showed year over year declines, and that was Single Family sales under $500,000. Single family homes over $1,000,000 were up 33% for the strongest sub category growth. There were eight sales in Port Royal over $10,000,000 and the highest recorded sale in MLS in 2010 was $22,000,000. Condominium sales were up in all categories, with the highest sale recorded in March in Bay Colony at $7,900,000.

In The Dunes, sales were up over 100% for high rise condos, with 46 in 2010 vs 22 in 2009. Low rise sales were only 2 this past year, vs 4 in 2009. The highest sale in The Dunes was a penthouse unit in Grande Excelsior at $1,750,000 and the low was $425,000 in Island Cove for a lower floor unit.

One last note of good news: current active listings are just over 8000, which equates to just over a year’s worth of inventory at the current of sales. That’s down from a 3+ year supply just a couple of years ago.

Who would dare make specific projections for 2011? Certainly, not this writer but I can report that momentum is good, calls and showings are up. For buyers, it is time to make the decision. For sellers, there is hope for a good result, as long as the listing price is in line with recent sales in the neighborhood and the broader category.

If you’d like further information, call The Love The Dunes Team at South Bay Realty, 239-289-1351 or stop by our Vanderbilt Beach office any day. One of us is always available to help you.

ATTENTION ALL HOMEOWNERS AT THE DUNES

GRANDE PRESERVE IN BLDGS. 4, 5 6 & 7

The natural gas supply line has been shut down due to a gas line break in Fort Myers.

We ask all homeowners who are in residence to turn the gas valve located under the stove top, to the off position, for safety reasons.

Maintenance will be doing a door to door inspection today and tomorrow.

The Plantation Club and The Floridian Club are offering a full beverage menu along with a limited food menu. The Floridian Club is also offering a full beach service, but they highly encourage everyone to bring their own towels.

If you have any questions, please email Arell Harris at: adunes@comcast.net.

To learn more.

Labels: condos, dunes, high end, high rise, life style, lifestyle, Love the Dunes, naples, real estate, southwest florida