Posted on Sunday, December 11, 2011
We just gained access to some specific 2010 census data – specifically interactive maps which show county by county population changes for 2000-2010 throughout the United States. So what? Well it shows Naples real estate is seeing some nice migrating demand for its smaller supply.
We track demand supply relationships (as our readers know) to judge market trends. After several years of a tough market (and over supply) Naples real estate inventories are back to one year levels approximately which historically means more price support.
You need demand to go along with supply. For Naples, this means in-market folks trading up and down the real estate property value ladder, folks buying second homes+ from outside of the market and new folks migrating down here from “up north” to make Naples their primary residence.
In terms of the migration, according to the interactive map for Collier County, the area was up 27.9% in the 2010 census from 2000 levels. Solid numbers. Our guess is the migration may have slowed a bit in the down turn for a variety of reasons but the overall trend is positive. We will keep our eye on actual sales volume trends as a measure of demand and report back shortly. Sales volume will capture not only the migration impact but also in market trading and second home buying.
The conclusion for this morning … “migration steady-supply shortening” – should be nice for Naples real estate, we will see.
Please tell us your thoughts.
No legal or investment advice or suggestions are being given in this Blog. Actual real estate price and sales results are subject to market forces and are not completely predictable. Please consult a lawyer or investment advisor for such legal and investment advice. The writings of this Blog are intended for the sole use of our clients.
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
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