Below are articles covering the National real estate market, including broad and comprehensive country-wide news relevant to both buyers and sellers.

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Naples Florida Monthly Real Estate Market Update – January 2018

Naples Florida Real Estate Market News –
January 2018

 

 

SINGLE FAMILY

CLOSED SALES

  • The number of closed sales in the 12 months ending January 31, 2018 for the Naples, Bonita Springs and Estero area remained relatively the same, with an increase less than 2% year-over-year (6,723 vs 6,638).
  • There were 25 closed sales, priced above two million, in January 2018 compared to the same number in January 2017 (25 units). During the 12 months ending January 31, 2018, sales in this category increased 20% over the same time period in 2017 (357 vs 297).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending January 31, 2018, a total of 10,554 new listings were added to the market, this is 10% fewer listings than the same time period, 12 months ending December 31, 2017.
  • Available inventory as of January 31, 2018 consisted of 5,080 units, a decrease of 11% vs the same time period in 2017. Current inventory represents 13 months of supply based on current absorption rates.

 

AVERAGE AND MEDIAN SALES PRICE

  • The year-to-date average sales price for the area was $633,134 which improved over the same time period in 2017, representing an increase of more than 5%.
  • The median sales price for the area increased less than 3% to $382,433 vs 2017.



CONDOMINIUMS

CLOSED SALES

  • The number of closed sales in the 12 months ending January 31, 2018 for the Naples, Bonita Springs and Estero area improved, with an increase less than 4% year-over-year. (5,455 vs 5,257).
  • There were 21 closed sales, priced above two million, in January 2018 compared to 8 in January 2017, a 163% increase. During the 12 months ending January 31, 2018, sales in this category increased 35% over the same time period in 2017 (130 vs 96 units).

 

NEW LISTINGS/INVENTORY

  • During the 12 months ending January 31, 2018, a total of 8,603 new listings were added to the market, approximately 7% fewer listings than the same time period 12 months ending December 31, 2017.
  • Available inventory as of January 31, 2018 consisted of 4,479 units, a decrease of 6% vs the same time period in 2017.

 

AVERAGE AND MEDIAN SALES PRICE

  • The year-to-date average sales price for the area was $414,667, which improved over the same time period in 2017, representing an increase of less than 8%.
  • The median sales price for the area increased less than 4% to $245,448 vs 2017.

 

“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS. Copyright 2018 Southwest Florida MLS. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. Naples Florida Monthly Real Estate Market Update is provided by Dustin Beard.”

 

 

 

 

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Naples Florida Community Sales Report – August 2017

Monthly Active/Closed Snapshot
12 Month Sold Comparison Report
for Select Communities

This Naples Florida Community Sales Report will show you the market trends for many of the top communities in Naples and Bonita Springs. If you would like more information regarding the Naples Florida Community Sales Report, e-mail Dustin Beard.

 

Information contained in this report is current as of September 1, 2017.

“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS. Copyright 2016 Southwest Florida MLS. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it.”

 

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Naples Florida Monthly Real Estate Market Update – December 2015

Naples Florida Real Estate Market News – December 2015

12 Month Comparisons as of December 31, 2015

Market_Report_December_2015-2

Market_Report_December_2015-3

CLOSED SALES

  • The number of sales closed during the month of December is the second highest on record for the month (993). The highest for this period was December 2014 with over 1,100 closed sales.
  • During the past 12 months, closings increased in all price categories with the exception of properties priced below $250,000, which decreased 4.4% from prior year. This was driven by shrinking supply rather than a lack of demand.
  • Closed sales priced above $2 million remained strong throughout the year with 481 sales as of year-end 2015. This represents a 10% increase over year-end 2014 when there were 439 closings in this category.

 

NEW LISTINGS/INVENTORY

  • Available inventory as of January 1, 2016 consisted of 5,131 units, an increase of 59 units over January 1, 2015.
  • The average list price over the past 12 months was $624,503, an increase of 7% over the average of $582,461 during the 12 months’ ending December 2014.
  • There were a total of 1,375 new listings placed on the market in December, an increase of almost 5% over December 2014.

 

AVERAGE AND MEDIAN SALES PRICE

  • The average price of closed sales during the month of December increased 4.9% year-over-year, while the median price was up 14.2%.
  • The average price of properties priced above $2 million was statistically level with the prior year end ($3,803,000). Median price in this segment increased 5.4% to $3,093,012.

 

“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS. Copyright 2015 Southwest Florida MLS. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it.  Naples Florida Monthly Real Estate Market Update is provided by Dustin Beard.”

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Naples Named City to See Most Economic Growth in U.S. in 2016

Naples Named City to See Most Economic Growth in U.S. in 2016

Naples, Florida has topped the list of metropolitan areas that are expected to see the most economic growth next year, according to the analysis of data in a new report from the U.S. Conference of Mayors prepared by IHS Global Insight and reported by Bloomberg Business.  The economy here will grow 4.9 percent in 2016, according to the forecasts.  This is due mostly to the surge in baby boomers retirement.

If you are thinking about selling your home, now is the time to discuss the best time to put your home on the market, contact Dustin today for his inside scoop on the Naples’ market.

To view some of the top neighborhoods in Naples, visit Park Shore, Moorings, Port Royal, Pelican Bay and Vanderbilt Beach.

bloomberg chart

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Naples Florida Real Estate Market News – October 2014

Naples Florida Real Estate Market News – October 2014

Closed Sales 13% Higher vs October 2013

Closed Sales during October 2014 are the highest on record for the month, and 13% above October 2013. In the luxury home market above $1,000,000, the number of closed sales year-to-date increased 24%. Average sales price year-to-date is at its highest level since 2008, but remains 30% below the high for this period established in 2007.

LISTED, PENDED, CLOSED YEAR TO DATE OCTOBER 2014

Market Report OCTOBERdata 2014.indd

LISTED, PENDED, CLOSED MONTH OF OCTOBER 2014

Market Report OCTOBERdata 2014.indd

BREAKDOWN BY PRICE CATEGORY YEAR TO DATE OCTOBER 2014

(This chart shows the percentage of the market represented by each price segment).

Market Report OCTOBER 2014.indd

CLOSED SALES

  • Closed Sales during October 2014 are the highest on record for the month, and 13% above October 2013. In the luxury home market above $1,000,000, the number of closed sales year-to-date increased 24% (1015 v 816).
  •  Average sales price year-to-date is at its highest level since 2008, but remains 30% below the high for this period established in 2007.

PENDED SALES

  • Pended Sales for the month of October increased 13% over October 2013, and are the highest on record for the month. The number of pended sales above $1,000,000 increased 67% over October 2013 (127 v 76).

NEW LISTINGS/INVENTORY

  • On November 1, 2014, available inventory in the combined Naples, Bonita Springs and Estero market stands at 4,834 units (2,658 single family homes and 2,176 condominiums). This represents a 4.5 month supply based on the number of closings in the past 12 months, and is a 10% decline from October 2013.
  • Year-to-date the number of new listings priced above $1,000,000 is up 26% over prior year.

“The source of this real property information is the copyrighted and proprietary database compilation of Southwest Florida MLS. Copyright 2014 Southwest Florida MLS. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it.”

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On a National Level, August Sales Were Up

According to the National Real Estate Association (NAR), existing-home sales rose 7.7 percent to a seasonally adjusted annual rate of 5.03 million in August from an upwardly revised 4.67 million in July. The increase came even as overly tight credit, appraisal issues, and Hurricane Irene hampered markets. “Some of the improvement might result from sales that were delayed in preceding months, but favorable affordability conditions and rising rents are underlying motivations,” NAR Chief Economist Lawrence Yun says. “Investors were more active in absorbing foreclosed properties.  In additional to bargain hunting, some investors are in the market to hedge against higher inflation.” Source: National Association of Realtors.

Additionally, certain areas of the country such as California, Arizona, and others are currently experiencing real estate markets that are robust and thriving, despite difficulties in some other locales. As an example, see these two reports from Phoenix and North Carolina by RealTrends:

N.C. Existing Home Sales Continue to Post Double Digit Growth

North Carolina existing home sales posted double digit growth for the second consecutive month in August with a 21 percent increase in units sold. Existing home sales have not been this high since May 2010.   According to statistics compiled by the North Carolina Association of REALTORS®, total units sold for the month were 7,878 and total dollar sales were $1,572,790,747.  The average existing home sales price declined 4 percent to $199,643.

Phoenix Homes Hit Highest August Level in Five Years

Phoenix-area home sales hit their highest August level in five years, recording 9,657 closings in the combined Maricopa-Pinal counties. That is up 8.1% from July and 35.8% from last year. Las Vegas experienced a similar trend last month, with sales jumping to a five-year high.

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Ten Tips to Avoid Identity Theft When You Move

The risk of identity theft during a move is a result of personally identifiable information being shuffled around from one home to the next.  It’s easy to become preoccupied with the move and overlook protecting your sensitive documents.

Identity thieves are creative in finding opportunities to steal information, and something as simple as forgetting to forward mail can put you and your family in jeopardy of identity theft.

Here are top safety steps for homeowners on the move:

  1. Submit a Change of Address Form. Submit an official Change of Address Form through your local post office, and once the request has been filed, keep an eye out for a confirmation from the Postal Service. You can expect your mail to arrive at your new address within 7 to 10 business days after filing.
  2. Shred sensitive documents. All important documents and paperwork that will not be coming with you should be shredded to prevent thieves from finding any information in your trash.
  3. Monitor financial statements. Communicate your new address directly to banks, credit card companies, and other important financial institutions. (rather than just relying on the change of addr4ess form)   Then check to be sure you receive them at the normal time, and carefully review your statements for suspicious activity.
  4. Use reputable moving companies. Take the time to read reviews, research the company and ask trusted friends, family or real estate agents for recommendations. Make sure the mover is registered with the Federal Motor Carrier Safety Administration (FMCSA), and has a U.S. Department of Transportation (USDOT) number before signing any agreements or obtaining an estimate.
  5. Keep documents with you. Transfer all important physical documents that will be making the move, such as wills, stock certificates, bonds, etc., to a safe and secure place such as a locked box or an online secure vault. Keep the physical documents with you during the move.
  6. Lock down your computer. Devote time and resources before your move to make sure all computers in your home are hack-proof and packed and out of sight before movers arrive.
  7. Supervise the move. Your presence could deter potential theft from occurring and you can rest assured that your personal belongings are being taken care of properly.
  8. Check your credit report. Take a look at your credit report for several months after you’ve moved. Any suspicious activity on the report may be a sign that your information has been compromised and local authorities and banks should be contacted.
  9. Verify mail is being delivered. After the move, verify that you are receiving all mail from the list of senders you identified and contacted beforehand.

For more information about protection your identity, visit www.intersections.com

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You’re ready to buy, but which property type will fit your lifestyle?

Arguably, now’s a great time to buy a home; at least when it comes to affordability.  According to economists with the National Association of Realtors, the Housing Affordability Index, a measure of the relative affordability of purchasing a new home, is at the highest level since the index was created in 1971.

Whether you’re looking to buy a primary residence, an investment property or a vacation home in Naples, Bonita Springs or Estero, Florida, one of the first questions you should ask yourself is what type of property to consider.  Are you considering a single-family home?  Or, perhaps you’re thinking about a condominium or a townhome?

You may have your emotional preferences, but there is more information to consider before you make a rational choice. While your Realtor® can help you make the best decision for your lifestyle, you should be aware of the nuances of each property type.  Click here for a comprehensive list of property types and what to expect. Happy hunting!

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The Best Guide to Mortgage Planning

Does it make sense to pay off your mortgage early?  While the answer has always been “yes” in the past, the answer to that question is not so clear today.   The question of whether to pay off a mortgage early is one many people ask. Today’s low rates on safe investments have made it easier to argue that it makes sense to pay off a mortgage before its time. However, that doesn’t mean there aren’t compelling reasons to keep paying the mortgage, experts say. The decision is best made on a case-by-case basis, but ultimately, it’s up to you.  Click here to read more about what the experts have to say about different situations and the best approach to paying or retaining your mortgage debt.