As realtors with the Samuel Team at John R. Wood, we are acutely aware of sales data, both yearly and monthly, on a local and national basis. The numbers tell us everything we need to know – whether it’s a buyer’s or seller’s market, trends in a neighborhood and what to expect in the future. And, clients expect us to be “on our game” and know the trends so they can be sure they are making sound financial investments.
The great news for buyers and sellers in Naples is that Naples Florida home sales are on the rise. After a very challenging several years, we are finally back on-track and customers are buying again. Business has been brisk this last season, and it’s been one of the best seasons on record for most of the businesses in Naples, especially the hotels and restaurants. Although we have a very seasonal population, we are seeing a trend that people are staying down here longer – they may come down to Florida in early October versus November or stay for a month or so past Easter, especially if Easter falls early, like it does this year.
Regarding Naples Florida real estate, the numbers don’t lie. Closed sales in 2011 increased 5% over 2010, representing the 4th consecutive year of increases; confirming a real estate market in recovery. Properties priced below $250,000 comprised 62% of the current market, a consistent figure since 2009. Sold properties above 1 million dollars reached their highest level since 2007, with 706 closings, up 42% from the 2009 (only 498 closed sales).
Naples inventory has dropped 23% during the past twelve months. This represents its lowest level in the last five years. Foreclosures and short sales also diminished as a percentage of total inventory, down from 19% in January 2011 to 12% in January 2012.
Naples Florida home sales activity continues to improve, despite economic challenges and all price ranges recorded increases over the prior year, with the high end luxury market continuing the rebound that started in 2010. Robust sales activity has resulted in lower inventory in all price ranges. Short sales and foreclosures decreased as a percentage of overall market and most of the remaining product in this segment was for properties priced below $250,000.
If you are thinking about investing in Naples Florida real estate, now might be a great time to start searching for property – whether it’s a 2nd home, a condo, single family or a high rise, on the beach or on a private multi-acre estate or a golf community, we have something for everyone.