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Condo Prices and Sales Volume Rise

Posted on Wednesday, July 20, 2011

More good news as we see continued Florida real estate recovery – statewide condo prices and sales volume are on the rise.   This follows the news we shared earlier that Collier county home prices rose 6% in the twelve months ending June 30.

Word around the office and with our active buyers is inventory is down and perhaps now we are going to see some price improvements – at least stability.

Keep in mind if you are selling do not think the easy days are back – it better be bright, spotless, smell good, have no obvious repair work, and up to date.  If your place is dated be ready for lower bids as buyers price in (perhaps too aggressively) the costs of modernizing that kitchen, great room, ceiling height, paint, molding, etc.  Give us a call on this one and we can offer some ideas.

And what about these condo price increases?  What is going on here? Well according to  Florida REALTORS, of which we are a member, “Florida’s existing condo sales rose 8 percent in June with a total of 7,941 units sold statewide compared to 7,330 sold in June 2010, according to the latest housing data released by Florida Realtors®. The statewide existing condo median sales price last month was $93,900; a year earlier, it was $92,300 for a 2 percent increase. The national median existing condo sales price was $165,400 in May 2011, according to the National Association of Realtors® (NAR)”.

Please keep in mind the overall economy will have its final say in the Naples housing market, but these are certainly good signs for sellers.

Call us or email us to talk about Naples real estate, and remember all real estate is local and you better have people on the ground to help you figure it out.