Posted on Friday, February 01, 2013
High season in Naples is here! There are more activities than one has time for.
Last weekend, for instance, a few of the possibilities included the Empty Bowl fundraiser for the Harry Chapin foodbank in Cambier Park, the chalk art contest on 5th ave, art fair in Fleishman Park , the Mullet festival at Stan’s restaurant and a charity ride/walk for the Naples Pathways Bike Coalition. Whew! Something for everyone!
Naples Market in 2012
A balanced view is important here – as noted by many Realtors on twitter at the time of this writing. It is not enough to say inventories are down and claim a market resurgence – a number of statistical points are view are needed to paint the big picture.
The final numbers are in for 2012 to provide the big picture
Overall median price increased 17%, from $175,000 to $204,000.
Closed properties increased 9% from 8345 to 9121.
Inventories are down 13% from 7581 to 6557.
We could start to see the decreased inventory affecting our sales numbers, as there are just not as many properties available for purchase. This is partly due to the decrease in short sale and foreclosed properties. Those properties have worked their way through the system and the numbers of new short sales and foreclosures is now very low.
Where short sale and foreclosed properties used to be over 40% of the market, currently out of 5743 active listings only 397 are in foreclosure or short sale, less than 1%.
Word on the street for the latest market buzz…
New construction is selling well as people look for newer properties that are priced well.
Several new developments are in the works and should break ground this year.
Commercial properties are also selling well. The uptick in residential real estate is translating to an uptick in new commercial transactions as well. Over 35 new restaurants are slated to open in this area this year .
We are seeing a resurgence of small business growth.
For National And Naples Fl real estate trends see our YouTube channel http://www.youtube.com/user/naplesbestaddresses?feature=results_main .. or register at http://NaplesBestAddresses.com.
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.
Some of the data relating to 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.
Mark Goebel, PA
REALTOR Coldwell Banker 5th Avenue South