Posted on Wednesday, November 16, 2011
So far so good in Florida. According to Florida Realtors “Existing home sales rose 12 percent in 3Q 2011 with a total of 46,759 homes sold statewide; during the same period the year before, a total of 41,728 homes changed hands according to Florida Realtors. Statewide sales of existing condos in the third quarter rose 13 percent compared to the year-ago sales figure.”
We are awaiting the NABOR report (Naples Area Board of REALTORS) this morning for the local results for October. In our own work we have offers going in this week on resale property at a pretty good clip, especially for the pre-Thanksgiving period. Buyers are out there and they seem to be more serious this fall.
The Florida Realtors report goes on to say “Florida’s existing-home median sales price continued to stabilize and remained level at $136,000 for the three-month period; in 3Q 2010, it was $135,900. The median is a typical market price where half the homes sold for more, half for less.”
We know one answer on local pricing in Naples, it is going to vary widely by size and location of home as always. We are expecting good price performance at the lower end of the market, especially $300,000 or less. What may be different is the price and volume performance in the $300,000 to $1,000,000 range where we have seen significant inventory improvements which should be supporting local prices – we will see.
That is it for this morning. Stay tuned for the October month end data soon and tell us what you think.
No legal advice or suggestions are being given in this Blog and the writing 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