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Are Naples Prices Really Increasing?

Posted on Thursday, October 06, 2011

In short yes. Remember all real estate is local. National trends and headlines are not the same as local Naples real estate activity. Our price trends were WORSE than national averages in 2007 and are now BETTER in 2011 – so keep you eye on local trends.

Need more proof that Fla. home sales are up? Check out this article from the Florida News Service …

WASHINGTON – Sept. 28, 2011 – The value of home sales in Florida has gone up. For proof, look no further than doc stamp taxes, which are paid on all home sales. According to U.S. Census Bureau reports, doc stamp revenue rose 9.8% in the second quarter of 2011 compared to the same quarter in 2010.

Other state taxes also rose, the U.S. Census Bureau reported Tuesday as part of a national study that showed continued revenue gains nationwide.

Florida sales tax collections climbed 5.4 percent; Florida corporate income tax collections rose 5.4 percent year to year for the quarter ending June 30.

Nationally, corporate income tax collections shot up 20.4 percent while sales tax increases increased by 4.7 percent. Income tax collections were 16.3 percent higher in the quarter compared to 2010.

Stagnant property values continued to take a toll, however. Nationally, local governments collected $85.9 billion of total property tax revenue, a decrease of 1.0 percent from the same quarter in 2010.

Source: News Service of Florida

Remember to talk to your local REALTOR for the latest local trends. What are your thoughts on Naples price trends? Let us know.