Naples, Fla. (December 18, 2015) – The November 2015 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), showed many performance similarities to the same report from November 2014. And those similarities left broker analysts who review the report with a sense of satisfaction because they predicted a continuation of market stability in November 2014. If history is any indication of future performance, then activity reflected in the November 2015 Market Report may indicate a market that is poised to enjoy stable activity in the coming months.
“The only big difference between November 2014 and November 2015 was inventory,” said Brenda Fioretti, Managing Broker at Berkshire Hathaway HomeServices Florida Realty, who went on to add that overall inventory in November 2015 increased in three of the five price segments reported. “Overall inventory decreased by 1 percent from 4,136 homes in November 2014 to 4,095 homes in November 2015. But this is compared to a 10 percent decrease in inventory from November 2013 to November 2014. And yet the report indicated inventory is on the rebound in the single-family home market, which showed a 5 percent increase from 2,217 homes in November 2014 to 2,319 homes in November 2015.”
Fioretti also pointed out that overall closed sales for 12-months ending November 2015 reflected nearly the same number of sales as 12-months ending November 2014. Overall closed sales increased 1 percent from 9,724 homes in the 12-months ending November 2014 to 9,800 homes in the 12-months ending November 2015. Interestingly, closed sales in the 12-months ending November 2013 to November 2014 dropped 2 percent.
Overall pending sales for all price categories above $300,000 increased in November 2015, with the $1 million to $2 million price category showing the largest growth at 27 percent from 45 homes in November 2014 to 57 homes in November 2015.
“Homes under $300,000 are going fast,” said a local Broker/Owner. “Days on market for that segment dropped 11 percent from 57 to 51 days, which doesn’t leave a lot of time for serious buyers to shop around.”
In response, a local Broker, recommended buyers that are looking in this price category should “move faster when submitting an offer to get ahead of other potential buyers that might be looking at the same property. With a declining inventory pool in the low end, there appears to be no shortage of buyers for the properties under $300,000. Competition is coming from first time homebuyers, boomerang buyers and retirees living on a fixed income. The low end is also popular with investors.”
Overall inventory in the $300,000 and below price segment decreased 20 percent from 1,372 homes in November 2014 to 1,103 homes in November 2015. Yet since November 2013, inventory in this price segment has dropped 42 percent from 1,917 in November 2013 to 1,103 in November 2015. This segment also represented 50 percent of all closed sales in the 12-months ending November 2015.
“Foreclosures are the lowest they’ve ever been since NABOR® began tracking activity,” said a local Broker. “There were only 34 foreclosures and 8 short sales reported last month.”
The NABOR® November 2015 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary, including these overall (single-family and condominium) findings:
- Overall pending sales decreased 3 percent from 825 homes in November 2014 to 804 homes in November 2015.
- Overall closed sales increased 1 percent from 9,724 homes in the 12-months ending November 2014 to 9,800 in the 12-months ending November 2015.
- Closed sales for single-family homes in the $300,000 to $500,000 price category increased 23 percent from 1,163 single-family homes in the 12-months ending November 2014 to 1,430 single-family homes in the 12-months ending November 2015.
- Closed sales for condominiums in the $300,000 to $500,000 price category increased 32 percent from 734 condominiums in the 12-months ending November 2014 to 968 condominiums in the 12-months ending November 2015.
- Overall median closed price increased 15 percent from $265,000 in the 12-months ending November 2014 to $305,000 in the 12-months ending November 2015.
- Overall median closed price for homes $2 million and above increased 10 percent from $2,950,000 in the 12-months ending November 2014 to $3,250,000 in the 12-months ending November 2015.
- Overall inventory decreased 1 percent from 4,136 in November 2014 to 4,095 in November 2015.
Single-family home inventory increased 5 percent from 2,217 single-family homes in November 2014 to 2,319 single-family homes in November 2015.
- There is a 5 months supply of inventory.
- Average days on market decreased 1 percent from 78 days in November 2014 to 77 days in November 2015.
The November 2015 Market Report showed days on market for the $2 million and above price category increased 124 percent from 99 days in November 2014 to 222 days in November 2015. Inventory in this category also increased by 21 percent from 401 homes in November 2014 to 484 homes in November 2015.
Days on market for all other price categories decreased. However, days on market by geographic location were more varied as shown in areas like Naples Beach and North Naples, which both saw increases over 20 percent.
Sizzling market is about to get hotter
By June Fletcher Naples Daily News
The housing market in Southwest Florida has been red-hot for the past three years. Now it’s about to get blistering.
That’s the conclusion of a new second quarter survey by Local Market Monitor that predicts the Naples-Marco Island area will have the highest cumulative gain in one-to four family home prices — 41 percent — over the next three years of any of the 20 Florida metropolitan statistical areas it tracks.
And it’s up considerably from the 29 percent three-year projection the 25-year-old Cary, N.C.-based real estate research firm made in the second quarter of 2014.
“That’s a big increase,” said Ingo Winzer, president and founder of the firm, which tracks 315 markets nationwide. “You’re looking at a real phenomenon.”
He forecast the giant gain after looking at recent data pointing to a growth in jobs, a shortage of both new and resale homes, and the relatively small number of foreclosed homes on the market.
“There’s been a surge in demand of people who aren’t just visiting but want to live full-time in Naples,” he said. “I think it will continue.”
Naples Real Estate Market – NABOR Report February 2015 Real Estate Transactions | NABOR Report Indicates Healthy Market Trends Continue
Naples Area Board of REALTORS® compiles and publishes monthly, quarterly and annual Naples real estate market statistics. Calculations are based on Naples real estate property listings that exist within the Southwest Florida MLS. Only properties in Collier County, excluding Marco Island, are included.
Release Date: Friday, March 20, 2015
- Pending Sales decreased 14% in the $0-$300K price category and increased 12% in the $300K-$500K price category 12-months ending 02/2015
- Closed Sales increased 14% in the $1M-$2M price category and 13% in the $2M+ price category 12-months ending 02/2015
- Median Closed Price increased 20% in the $2M+ price category 12-months ending 02/2015
- Inventory decreased 24% in the $0-$300K price category and increased 15% in the $300K-$500K price category 12-months ending 02/2015
Color psychology may be an important factor when you market your home.
From seeing red to feeling blue, color plays a big role in our emotions. Some colors make us feel happy or relaxed, while others can make us feel anxious. When you’re selling your home, the colors you choose can play on potential buyers’ memories and emotions, changing the way they see your home.
Use color psychology to market your home, and the next color you might see is green.
Read complete article on realtor.com
RISMEDIA, Wednesday, December 03, 2014
The 30-year fixed mortgage rate on Zillow(R) Mortgages is currently 3.76 percent, down one basis point from this time last week. The 30-year fixed mortgage hovered around 3.75 percent last week before settling at the current rate.
“Rates continued to slide last week, and are now down more than a half of a percentage point from their mid-September peak,” said Erin Lantz, vice president of mortgages at Zillow. “Strong economic data suggests rates should move higher, but weak demand for new loans has kept rates low. This week we expect to see some volatility as markets react to Friday’s job report, but anticipate rates to increase modestly by week’s end.”
Zillow’s real-time mortgage rates are based on thousands of custom mortgage quotes submitted daily to anonymous borrowers on the Zillow Mortgages site, and reflect the most recent changes in the market.
These are not marketing rates, or a weekly survey.
The rate for a 15-year fixed home loan is currently 2.97 percent, while the rate for a 5-1 adjustable-rate mortgage (ARM) is 2.76 percent.
Purchase Mortgage Application Activity
Zillow predicts tomorrow’s seasonally adjusted Mortgage Bankers Association Weekly Application Index will show purchase loan activity increased by 15 percent from the week prior. Zillow combines loan requests made on Zillow Mortgages last week with the previous week’s Mortgage Bankers Association (MBA) Weekly Application Index to predict the MBA’s Weekly Application Index for purchase loans, which will be released tomorrow.
For more information about this prediction, visithttp://www.zillow.com/research/mortgage-app-index-part-one-7016/.
States’ rates are available at: http://www.zillow.com/mortgage-rates.
A service from the Naples Area Board of REALTORS® Naples, FL (October 17, 2014)
Limited inventory continues to be the story of the Naples area real estate market, according to the third quarter report released by the Naples Area Board of REALTORS® (NABOR®). Inventory of existing homes decreased 9 percent from 4,080 homes available in the 3rd quarter of 2013 to 3,702 homes in the 3rd quarter of 2014. This tight inventory affected sales activity as demonstrated by a 10 percent decrease in pending sales from 2,548 in 3rd quarter 2013 to 2,304 pending sales in 3rd quarter 2014; and an 11 percent decrease in closed sales from 2,339 in 3rd quarter 2013 to 2,093 closed sales in 3rd quarter 2014.
Contrary to the reduction of pending and closed sales in the 3rd quarter of 2014, real estate agents across Collier County reported being very busy keeping up with the growing demand. This anomaly, as confirmed by a panel of brokers analyzing the NABOR® 3rd Quarter 2014 Naples area market statistics, is likely a result of the market experiencing an influx of new home construction that, while not reported in the Southwest Florida MLS, has replenished the void resulting from a decreased inventory in the resale market.
Pat Pitocchi, NABOR® president and corporate trainer at Downing-Frye Realty said, “The market report does a good job at showing us a big picture view of how the resale market in Collier is behaving in general. However, it does not report all new homes sales, which appears to be a considerable segment of the current market activity according to reports from local brokers.”
Wes Kunkle, a commercial broker at Kunkle Realty, pointed out that the 21 percent decrease in overall pending sales in the $300,000 and below market drove the overall 10 percent decrease. “Overall pending sales in every price segment over $300,000 increased in the third quarter 2014. Overall closed sales increased in two of the five price segments, $300,000 to $500,000 and $1 million to $2 million, as well.”
The NABOR® 3rd Quarter 2014 Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® 3rd Quarter 2014 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:
- Pending sales of single family homes over $2 million increased 26 percent from 43 in 3rd quarter 2013 to 54 3rd quarter 2014.
- Pending sales of condominiums between $1 million and $2 million increased 29 percent from 38 in 3rd quarter 2013 to 49 in 3rd quarter 2014.
- Overall closed sales in the $300,000 to $500,000 category increased 13 percent from 398 in 3rd quarter 2013 to 451 in 3rd quarter 2014.
- Overall closed sales in the $1 million to $2 million category increased 14 percent from 91 in 3rd quarter 2013 to 104 in 3rd quarter 2014.
- Overall median closed price increased 13 percent from $234,000 in 3rd quarter 2013 to $265,000 in 3rd quarter 2014.
- Overall median home price of homes over $300,000 decreased 7 percent from $530,000 in 3rd quarter 2013 to $493,000 in 3rd quarter 2014.
- Overall inventory decreased 9 percent from 4,080 homes in 3rd quarter 2013 to 3,702 homes in the 3rd quarter of 2014.
- Overall inventory of single family homes in the $300,000 to $500,000 market increased 15 percent from 422 in 3rd quarter 2013 to 487 in 3rd quarter 2014.
NABOR® also released its September 2014 Market Report, which revealed the following:
- Overall pending sales increased 2 percent from 810 in September 2013 to 829 pending in September 2014.
- Overall closed sales decreased 3 percent from 9,919 in the 12-months ending September 2013 to 9,585 closed sales in the 12-months ending September 2014.
- Overall median closed price increased 14 percent from $230,000 in the 12-months ending September 2013 to $262,000 in the 12-months ending September 2014.
- Overall inventory decreased 9 percent from 4,080 in September 2013 to 3,702 in September 2014.
Broker analysts agree that new construction within the last year is a welcome addition to the Collier County housing market.
With guidance from a local REALTOR®, buyers can discover opportunities and ensure their sale or purchase is a success within both the new home and resale markets.
