Posted on Wednesday, May 23, 2012
Readers of this blog will know of the steadily decreasing Naples, Florida real estate inventory. So what? Well shrinking supplies mean better price supports. And how are prices doing? Since the first of the year average home selling prices are up nearly 30%. Sure, some of this is due to our strong tourist season but real estate is clearly rebounding here. Let’s take a look at the numbers.
According to the Sunshine MLS for the All Naples Area there are 5,516 properties for sale this morning and sales in the last year were 8,364 properties or 7.91 months of inventory. Remember when inventories were one year plus not too long ago? Seen more buyer bidding wars lately? Seen shorter time on market data?
With the shorter supply, prices are rising. Average selling prices in the Sunshine MLS All Naples Area were roughly $325,000 at the first of the year and now are at $425,000 but we need to see the offseason results before we get too excited about the price jump – darn good though.
Naples seems to be following a statewide trend. Florida Realtor reported yesterday “Florida’s housing market had increased pending sales and higher median prices in April, along with a greatly reduced inventory of homes and condos for sale, according to Florida Realtors® latest housing data.”
So let’s hope this trend continues and our local economy prospers with the real estate recovery.
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 Mobile: 239.595.3921 Email: firstname.lastname@example.org NaplesBestAddresses.com Facebook: NaplesBestAddresses Twitter @mcgoebel Naples Best Addresseses – Where The Best Address in Naples Real Estate Is Yours