This category is where we give you updates on local information that impacts Southwest Florida real estate.
There are currently 96 blog entries related to this category.
Monday, October 20th, 2014 at 11:07am. 4,216 Views, 0 Comments.
Limited inventory continues to be the story of the Naples area real estate market as we head into season in SW Florida. Demand is definitely outweighing supply. Statistics* released Friday by the Naples Area Board of Realtors (NABOR) for the 3rd Quarter of 2014 showed an 11 percent decrease in closed sales year-over-year and 12 percent drop from August's sales numbers. Pending sales were down 10 percent year-over-year and dropped 4 percent from last month. Overall home prices continued to rise though jumping 13.5 percent to $265,000 year-over-year. For September, the closed sales price was up 1 percent to $262,000 from August's $260,000. Inventory fell 9% and average days on the market (DOM) shrank 45 percent year over year.
Here's the recap of the 3rd…
Sunday, July 20th, 2014 at 6:59am. 2,349 Views, 0 Comments.
The Naples real estate market has cooled somewhat now that the summer season is in full swing in SW Florida. Statistics released yesterday by the Naples Area Board of Realtors (NABOR) for the 2nd Quarter of 2014 showed a 4 percent decrease in sales year-over-year and 1 percent from May's sales numbers. Pending sales were down 8 percent year-over-year and 11 percent from last month. Overall home prices continued to rise though jumping 10 percent to $273,000 year-over-year. For June, they were up 2.5 percent to $282,000 from May's $275,000. Inventory and average days on the market (DOM) shrank substantially year over year and from May to June.
Here's the recap of the 2014 2nd Quarter's numbers*:
- Overall closed sales increased 11 percent for homes…
Sunday, June 22nd, 2014 at 8:07am. 2,374 Views, 1 Comments.
The available SW Florida re-sale home inventory for May is at its lowest level since 2007 according to the latest Naples Area Board of Realtors (NABOR) monthly sales report.
Demand remains high too, with overall pending and closed sales both topping 1,000 for May. Many local real estate brokers are saying they don't see these factors as signs that a new bubble is building, which is defined as too much demand chasing too little supply, which pushes up prices to unsustainable levels for the average buyer. We concur with this observation at this point in time. Basically, what we have here is a lid being kept on the market by the fact there is a large supply of new construction homes available as an alternative option for buyers and tighter lending…
Friday, June 6th, 2014 at 3:16pm. 3,487 Views, 0 Comments.
For 29 straight months, overall median sales prices have risen for both single-family homes and condominiums here in Southwest Florida. Local markets like the Naples, Immokalee and Marco Island areas have seen prices rise 13.6% (the highest in the state) over the last year. Others like the Cape Coral and Ft. Myers areas saw prices rise by 8.3% (9th highest in the state) over the same time period. Both compare favorably to the national average which averaged 10.5% year over year.
Overall in Southwest Florida, the driving force behind the ongoing price rises is the "dearth of inventory" that researcher CoreLogic "expects will continue to drive prices up over the year for the foreseeable future.” Price increases in the area usually lose steam as the end…
Wednesday, May 14th, 2014 at 7:16am. 2,308 Views, 0 Comments.
Spurred on by an influx of all cash buyers and steadily rising home prices, both state and local real estate sales in Florida saw substantial increases in the first quarter of 2014.
Here's the breakdown of the Q1 facts and figures:
- Statewide, single-family home prices were up 9.1% to a median of $168,000.
- Condos and Townhouses saw a 16.9% bump up in price to $135,000
- The state boasts the highest number of metro areas where cash deals comprise more than half of all sales.
- The Naples-Marco Island market was by far the fastest performing of all cities in the state.
- Single-family home prices in the Naples-Marco Island market rose 26% to $379,000.
- Condominium and Townhouse prices were up 5.8% to $225,000.
- All cash buyers in the Naples-Marco…
Tuesday, May 13th, 2014 at 3:35pm. 1,952 Views, 0 Comments.
The Village of Estero has cleared all the hurdles and been given the official OK by Governor Scott's signing of HB 1373 to proceed with a vote on the November 4th ballot on whether or not to become a city.
"We're elated to hear it," said Nick Batos, Chairman of the Estero Council of Community Leaders. "It's been a long process, and it's great to see the delegation and the Governor give Estero the right to make the decision whether we want to incorporate or not."
Batos also said the organization has had about a dozen community meetings to educate people on the pros and cons of becoming a city. The group will continue to meet "on a slower pace over the summer months" before ramping up the final push come September.
It will be interesting to see how…
Monday, April 28th, 2014 at 10:56am. 1,504 Views, 0 Comments.
The Bonita Springs real estate market we've been predicting for months now looks as if it is coming into being. The closed sales for March of 2014 are down by 37.8% in a year over year comparison. Many experts were saying our sales would slow due to rising prices. However, with active listings declining by 41.3% year over year – it appears the lack of inventory is more of the culprit that we are seeing on a daily basis as the year moves forward. There is just too little inventory available for buyers to choose from, especially in the more affordable price ranges.
Bonita Springs’ average home sale prices were up by 8.2% to $469,834 over the same time period (March, 2013 to March, 2014). Condominiums are up to $276,578 on average, which is a 5.7% rise…
Friday, April 18th, 2014 at 9:49am. 3,109 Views, 0 Comments.
They have rather unusual names like Sparky Lee's Hole, Houla Dog and Dean-O Hicks Reef. These are just a few of the artificial reefs off Collier and southern Lee County's coastlines that aren't necessarily able to be found via a GPS coordinate. Many have been tossed and buried by hurricanes and the larger than normal waves that over time have just pounded them into submission.
Now, thanks to more than $1.3 million in various grants from BP’s Gulf Tourism and Seafood Promotional Fund, the local Collier County governmental agencies and the Community Foundation of Collier County and the Economic Recovery Task Force have joined together to oversee the start of one of the world’s largest artificial reef projects: six 500-ton reefs, many the size of football…
Monday, April 14th, 2014 at 3:16pm. 1,926 Views, 0 Comments.
It's that time of year again. Our winter snowbird friends are flying back north for the summer. And, it is just the right moment for addressing what to do in preparing your SW Florida home to help prevent mold and water intrusion while your away.
SW Florida's high humidity and heat during the summer months takes a toll on your property both inside and out. The easiest way for preventing mold development while you’re gone on the inside is to install, and use, a humidistat on your air conditioning unit. By keeping your humidity at a minimum 60%, the air conditioner should activate often enough for drying the air within your home. That, in turn, dries upholstery, rugs, and carpets. In this day and age, it may even be more practical to lower it to 40% or…
Friday, April 11th, 2014 at 7:30pm. 3,048 Views, 0 Comments.
An old adage goes "that money can't buy you happiness." Well, maybe not. But it can buy you a home in one of the country's "Top 10 Happiest Beach Towns."
Coastal Living magazine took its second annual look at the country's "10 Happiest Beach Towns" in 2013 and you might be surprised by the towns that made their final list.
According to Jennifer Slaton, the magazine's executive editor, "our staffers nominated their favorite beach towns and then winnowed the results down to the final 10. Our readers then ranked the finalists from one to ten."
So what makes a beach town happy? According to Slaton, "staffers used multiple criteria" in making their choices. Examples included - a nice stretch of beach, invigorating salt air, access to food, sports, and…