Posted on Sunday, January 19, 2014
This is the time of year we tend to look back on the prior year’s “numbers” as we have had enough time to collect, crunch and figure the many turns of the Naples, Florida real estate market. We are so thankful for the continued up turn in the market. At a charitable function last night the Naples crowd was festive, confident and back to their old form. The 2007-2009 mood which had hung over many seems to be fading thank goodness.
We took a look at the Matrix MLS data for both the entire Naples area as well as a part of the all Naples market – Old Naples. Old Naples is where the town started and was home to some of the pricier real estate. I think it interesting to have a specific look at Old Naples as well as the overall market.
In terms of the entire Naples, Florida market it looks like historic sales prices which were under 200K in January 2009 have climbed to well over 250K. This average does not mean a lot as we have home prices in a wide range from millions of dollars to less than one hundred thousand dollars but it does give you a feeling for the general market – it is going up at a pretty good clip.
The most remarkable statistic in the general market is the days on market statistic which was cut in half to forty some days in the last half of the year. Now that is moving. Another interesting fact is volume was more even throughout the year. In the past we have seen big peaks in season but now we are seeing relatively even sales all year long.
Well what about the Old Naples market? Incredibly we are now over $1 million AVERAGE – wow. Volumes here show the same evenness throughout the year as the big market, that is no season peak. However one dark cloud is the days-on-market statistic which has climbed to a stubbornly high 225 days frustrating many sellers. Keep an eye on this last statistic as it could signal price curbs if sellers lose patience.
Yesterday the Naples News reported the Naples Area Board of Realtors stated “Overall median home prices increased 18 percent, to $240,000 in 2013 from 2012” and went on to report “The most robust performance in terms of prices was in the lowest and highest price ranges. Homes that sold for less than $300,000 saw prices rise 15.6 percent year-over-year and 16.4 percent in December compared with a year earlier.”
Well the market is clearly back from the bottom – not all the way back we have a ways to go before the go-go days of 2004 but we are back to a level where people are feeling better. It has been estimated one in ten jobs are created from real estate markets so this up turn continues to help out the town and the county. Thank goodness.
What does all this mean for you? Well remember real estate markets are local, very local – like condo building by condo building and single family home prices may differ significantly street by street. Get with us and we will help you sort it all out.
If you would you like to know more about Naples Real Estate or things to do while living or visiting here? Just give us a call at 239.595.3921. Or if you like download a copy of our free eBook Understanding Naples Real Estate https://www.naplesbestaddresses.com/offer/
Hope to meet and talk with you soon,
Mark Goebel PA & Nan Goebel PA
Co-Founders Naples Best Addresses Team
Coldwell Banker Mark Goebel, PA and Nan Goebel, PA REALTOR Coldwell Banker 5th Avenue South Mobile: 239.595.3921 239.595.3920 NaplesBestAddresses.com Facebook: NaplesBestAddresses Youtube http://www.youtube.com/user/naplesbestaddresses?feature=results_main
No legal, investment, or tax advice is being given in this Blog. Consult with legal, financial and tax professionals before acting on any real estate transaction. Actual real estate price and sales results are subject to market forces and are not completely predictable. The writings of this Blog are intended for the sole use of our clients.
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Some of the data relating to Naples homes for sale and Naples real estate for sale on the NaplesBestAddresses.com website comes in part from the Broker reciprocity program of M.L.S. of Naples, Inc. The properties displayed here may not be all the properties available through the MLS reciprocity Program. This information is deemed reliable but is not guaranteed. Buyers and sellers are responsible for verifying all information about their purchase prior to closing.
Mark Goebel, PA is a REALTOR with Coldwell Banker on 5th avenue in Naples, Florida with 35+ years of visiting and living in Naples. After 25 years at Accenture, Mark retired as a managing director and spends his time helping non profits and building a Naples real estate team with his wife Nan. Talk to Mark and Nan about life in Naples and why they chose this place to live full-time over all others and enjoy Naples real estate.
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