Current Market Statistics
The Sandlin Team State of the Market Report as of December 1, 2014
On Marco Island:
The number of ACTIVE Homes for sale (284) is down 22% from a year ago. The number of ACTIVE Lots for sale (321) is up 28% from a year ago. The number of ACTIVE Condos for sale (324) is down 22% from a year ago.
The number of PENDING Homes in November (41) is down 5% from a year ago. The number of PENDING Lots (14) is down 46% from a year ago. The number of PENDING Condos (67) is up 8% from a year ago.
The number of CLOSED Homes (16) is up 45% over a year ago November. The number of CLOSED Lots (4) is down 71% from a year ago November. The number of CLOSED Condos (31) is up 24% over a year ago November.
The trend on the island of Condos performing best followed by homes sales continues. The general market attitude on the island is very positive and we expect an excellent season.
Cash sales remained very strong in both the Marco Island and Naples markets while short sales and foreclosures represent a small piece of the market.
In the Naples Market:
Pending sales for condominiums in the $1 million-$2 million category increased 211 percent from 9 in October 2013 compared to 28 in October 2014.
Overall closed sales decreased 2 percent from 9,912 in the 12-months ending 2013 to 9,667 in the 12-months ending 2014.
Closed sales for single family homes in the $2 million and above category increased 31 percent from 210 in the 12-months ending October 2013 to 275 in the 12-month ending 2014.
Median closed price increased 13 percent from $235,000 in the 12-months ending October 2013 to $265,000 in the 12-months ending October 2014
Overall median closed price for homes in the $1 million-$2 million and $2 million and above categories both decreased 3 percent
Overall inventory decreased 10 percent from 4,376 homes in October 2013 compared to 3,939 homes in October 2014.
The October reports showed signs our winter residents and visitors returned early this year: Overall pending sales rose 10 percent from September 2014 (829) to October 2014 (911), and inventory also increased from 3,702 units available in September 2014 to 3,929 units available in October 2014. Pending sales are driving the market into what is anticipated to be a strong fourth quarter according to NABOR®.
Sandlin Team Marco Island and Naples State of the Real Estate Market Report as of October 1, 2014
We are experiencing a very healthy and strong market but with inconsistent activity across our diverse marketplace with varying price pockets within both the Marco Island and Naples markets. A decrease in inventory in general is not only affecting the active listings but is also impacting the number of pendings and closings as detailed below.
The number of ACTIVE HOMES in Marco Island on the market today (261) as compared with a year ago (323) is down 19%. Likewise, the number of PENDING HOMES today (34) as compared with a year ago (61) is down 44%. New construction is up and that is impacting the resale market. There were 26 CLOSED HOMES in September as compared with 24 a year ago September, up 8%.
The number of ACTIVE CONDOS on the market today (289) in Marco Island as compared with a year ago (381) is down 24%. Similarly, the number of PENDING CONDOS today as compared with a year ago is down 31%. There were 36 CLOSED CONDO sales in September as compared with 45 a year ago September down 20%.
The number of ACTIVE LOTS on the market today (280) on Marco Island as compared with a year ago (245) is up 14%. The number of PENDING LOTS today (9) as compared with a year ago (16) is down 44%. Likewise, the number of CLOSED LOTS is down 38% with 8 closings in September, 2014 and 13 closings in September 2013.
We’ll have to see if the low inventory will continue to be a trend in the coming months. Historically, more new listings come on the market as the new season approaches. The inconsistent activity across all geographic areas makes it difficult to predict whether the low inventory will continue to affect pending and closed sales moving forward. From a buyer activity standpoint, the activity market wide is excellent indicating this will be a very strong season of sales.
The Current Market Statistics for Marco Island, Florida Real Estate Sales as of September 1, 2014
The number of active HOME listings (262) on the market is down 18% from a year ago. That is a positive indicator for the home market. Likewise, the number of active CONDO listings (298) on the market is down 26% from a year ago- again a positive indicator for the condo market. The declining inventory directly impacts the absorption rate or the number of months it would take to sell everything available in a particular pocket of the market based on the number of sales that have occurred on a monthly break down. We currently have a 7 month supply of active homes to sell based on the number of sales this summer. We have an 8 month supply of active condos to sell based on the sales this summer. As the inventory declines so will the absorption rate which creates price appreciation. We are already experiencing price appreciation across the board.
The number of PENDING Home sales is up 6.5% from a year ago. The number of pending Condo sales is up 3.5% from a year ago. And the number of pending Lot sales is up 10% from a year ago. The market was active in August and we look forward to a good September and then accelerating into October.
37 Homes closed in August up 19% from a year ago. 10 lots closed in August up 25% from a year ago. The pocket of premier lots directly on the open water, big views continue to perform very well and inventory of these lots is very low.
All these positive market statistics are indicative of accelerating appreciating prices.
Robust Real Estate Market Continues Into Summer
Marco Island and Naples, Fla. Homes Sales: (May 23, 2014) – The Marco Island and Naples area real estate market continues to show signs of growth as summer approaches with noteworthy performance in April as reflected in a report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County. April closed sales are the highest for any month year to date. Both pending and closed sales in April are over 1000 units each, showing good momentum going into summer. The closed sales activity in the $1 million and above category continues to remains strong with a 25 percent increase from 714 units in the 12-months ending April 2013 to 951 units for the 12-months ending April 2014. Great sales activity in Collier County is no longer limited to just the winter months.
Cindy Carroll, SRA, with the real estate appraisal and consultancy firm Carroll & Carroll, Inc., agreed and said she anticipates strong sales activity through the summer and into fall. “Five key indicators signal that the uptrend in the market continues: 1) pending sales are up, 2) closed sales are up, 3) median closed prices continue to climb, 4) days on the market are decreasing, and 5) inventory is continuing to decrease. ”
The NABOR® April 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 and these overall (single-family and condominium) findings:
- Overall closed sales increased 4 percent from 9,385 sales in the 12-months ending April 2013 to 9,763 sales in the 12-months ending 2014.
- Closed sales for single-family homes in the $2 million and above market increased 56 percent from 25 in April 2013 to 39 in April 2014.
- The overall median closed price increased 14 percent from $219,000 in the 12-months ending April 2013 to $250,000 in the 12-months ending April 2014.
- The overall median closed price of homes $300,000 and under increased 13 percent from $149,000 in the 12-months ending April 2013 to $168,000 in the 12-months ending April 2014.
- The median closed price for condominiums in the $2 million and above market increased 8 percent from $2,700,000 in the 12-months ending April 2013 to $2,922,000 in the 12-months ending April 2014.
- The overall average days on market are at 93 for April 2014.
- Overall pending sales increased 3 percent from 10,678 in the 12-months ending April 2013 to 10,987 in the 12-months ending April 2014.
- Overall pending sales increased 13 percent for homes $2 million and above from 48 contracts in April 2013 to 54 contracts in April of 2014.
- Overall pending sales decreased 12 percent in the $300,000 and under segment from 762 in April 2013 to 672 in April 2014.
- Inventory of condominiums decreased 24 percent from 2,553 units in April of 2013 to 1,951 units in April of 2014.
- Inventory of condominiums in the $2 million and above market decreased 47 percent from 64 in April 2013 to 34 in April 2014.
- Inventory of single-family homes increased 2 percent from 2,167 units in April of 2013 to 2,206 units in April of 2014.
The term REALTOR® is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribe to its strict Code of Ethics.
Experts Predict Naples/ Marco Island Area is Poised for Homes Sales Growth
Five guest speakers provided national, state and local analysis of recent growth and home sales activity as well as predictions of what to expect in the next 12 months at the “View from the Top” annual Economic Summit on April 21, 2014.
Dr. Lawrence Yun, PhD, Chief Economist National Association of Realtors® (NAR®) noted, “We are seeing a revival of migration to Florida,” said Yun, who added that 8,000 Baby Boomers are turning 65 each day and many are making Florida their new home. Although Dr. Yun stated that people’s incomes are not increasing as fast as home prices, he did agree that the Federal Reserve is doing a good job communicating the fact that interest rates will not fall again, making 2014 the year to purchase a home.
Russell Smith, the Vice President of Land Development Operations for Lennar Homes and the Economic Summit’s second speaker shifted focus to new community developments in Collier County revealing a one-month inventory for vacant new homes. He praised state and local governments for extending new construction permits, which allowed local builders to make headway with existing developments after a long pause for recovery.
Dr. Ron Coccari, Visiting Professor of Economics; Lutgert College of Business, Florida Gulf Coast University pointed out that new home construction permits have risen 38 percent in the last year. Pointing to the influx of Baby Boomers to Florida, Dr. Coccari said Florida can expect a healthier, more moderate rate of growth for the future.
Sandlin Team State of the Market Report as of March 1, 2014
There are currently 381 active SINGLE FAMILY HOMES on the market, up 4.46% from a year ago. The pendings in February are up 50% over a year ago February with 63 homes under contract. That is an encouraging improvement over the home closings which were down 36% in February from a year ago February. The home sales are not consistent, with some price ranges very active and others stagnant at this time. The market is segmented.
The number of active LOTS for sale is down 2.5% from a year ago. The number of pending lots sales is up 13% over a year ago. While the lot closings in February were down 50% from a year ago. The big view lots are the hottest properties at this time.
Mirroring last month, the number of CONDOS for sale is down 28.6% from a year ago. The number of pending condos is up 50% from a year ago. And the number of closed condos in February was up 40% over year ago.
So clearly, at this time the Condo market is the strongest. However, home pendings are also demonstrating a strong positive trend.
Our Sandlin Team is leading the sales again in the area with over $14 M in closed volume to date in 2014 and over $10 M more in pending sales. It would be our pleasure to educate you on the market and serve your best interests. Please e-mail us at firstname.lastname@example.org or call direct at 239-642-4450.
February 1, 2014- Marco Island & Naples, Florida Current Market Report:
Comparing January 2014 with January 2013, there are 10% fewer properties actively on the market today than there were a year ago in Marco Island. Breaking that number down, there are 1% fewer lots for sale, 9.4% more homes for sale and most dramatically 27% fewer condos for sale. The new home construction is very strong on the island and that is certainly competing with the resale home market. On the other hand, there are no new condo developments being marketed on the island currently and that is impacting the number of condos for sale.
Sales in January were very strong across the board on the Island with a 38% increase in the number of pendings this January as opposed to a year ago January. Single Family home pendings were up 24%, Lot pendings are up 52%, another reflection of the strong demand for new construction. The number of condo pendings were up 48%.
The number of Homes CLOSED in January was up 29% from a year ago. The number of Lots CLOSED was up 300% from a year ago. The number of Condos CLOSED in January was actually down 3%. However, looking at trends, with the condo Pendings up 48%, closings will no doubt be strong in February.
Prices showed an increase in the year to year comparison of closed properties of all types of 14.88%. However, there is no question that one has to look at the specific pocket of the market. While condos show the biggest decrease in inventory, there are dramatic differences in performance based on location, or from one condo complex to the next. The most dramatic appreciation in prices has been in the big bay view lots.
The total sold volume year to year comparison showed an 18.57% increase from $551 M in 2012 to $653 M in 2013. Year over year, the number of single family home closed sales rose by 2.3% while the volume rose by 14.5% and the average sales price rose by nearly 12%. The number of closed condos sales for the same year to year period increased by 6.1%. The volume sold by dollar amount increase was 14% and the average sales price rose 7.5%. The number of closed lot sales from 2012 to 2013 was actually down 4.3%. However, the dollar volume of sold listings increased 34.6% and the average sales price of lots increased 40.65%. This number is affected by the fact that there were an increasing number of high end lot sales at dramatically appreciated prices. The average canal and inland lots did not appreciate nearly so much. Days on the market decreased 6% year to year for all properties categories overall.
Jack Wert, Executive Director for the Naples, Marco Island & Everglades Convention & Visitors Bureau, reported that for the first time, tourist spending in the County was over $1 billion for 2013. Spending from Canadian visitors was up 11.9% and European revenues rose 5.7%. Without any argument, the Canadians are our strongest international customers both for purchasing real estate and as tourists and the Toronto area tops the list. We continue to gain national and international acclaim. Marco Island was rated in the Top Five Most Beautiful Small Towns in America. Collier County as a whole was named to top Golf Destination of the Year by the International Association of Golf Tour Operators and was also featured in the popular “100 best places to take your children” book. Naples has also been awarded one of the Top Retirement Destinations in the U.S., Top 1- Beach Towns, Top Ten Art Towns. & #2 Place to Live in Florida. Beach remains the number 1 drawing card for the area, followed by dining, shopping and eco-tourism. Since we all live here we know and enjoy these benefits and many more daily. The national and International recognition definitely fuels our marketplace.
Naples- Marco Island Real Estate Market ranks No. 1 in Home Price Appreciation Forecast
According to Local Market Monitor, a national housing data company, the predictions for home price increases in Naples and Marco Island shines brighter than it does for any other metro area in Florida. Looking forward to the third quarters of 2014, 2015, and 2016, the research firm predicts a cumulative increase of 37% in home values. The biggest increase for Naples-Marco Island is expected in 2014 when prices are projected to rise 15%. In each of the two subsequent years an 11% rise in prices is predicted.
Naples, Florida Area Median Home Price Increased 17%
Naples, Fla. (Apr. 12, 2013) – The Naples area overall median home price increased 17 percent for the 12 months that ended in March 2013, according to a report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County.
The NABOR® March report provides annual comparisons of single-family home and condominium sales (via the SunshineMLS), price ranges, and geographic segmentation and includes an Overall Market summary:
– The overall median closed price increased 17 percent from $184,000 at the end of March 2012 to $215,000 for the 12-month period ending March 2013.
– Overall pending sales increased 4 percent from 10,204 units to 10,633 units for the 12-month period ending March 2013. Overall pending sales increased 22 percent in the $300,000 to $500,000 category from 1,414 units to 1,729 units; 13 percent in the $500,000 to $1 million category, from 1,052 units to 1,190 units; increased 18 percent in the $1 million to $2 million category, from 452 units to 532 units; and increased 12 percent in the $2 million plus category, from 277 units to 310 units, respectively for the 12-month period ending March 2013.
– The average DOM (Days on the Market) decreased 8 percent overall from 171 days in March 2012 to 157 days in March 2013.
– Inventory decreased 14 percent from 7,599 units in March 2012 to 6,565 units in March 2013.
– Overall pending sales in the Naples coastal area increased 9 percent from 1,912 units to 2,091 units, and closed sales increased 15 percent, from 1,653 units to 1,897 units, for the 12-month period ending March 2013.
Please call the Sandlin Team at 239-642-4450 or e-mail us at email@example.com for more details.
Marco Island/Naples Prime Location for Vacation and Investment Purchases
According to the current National Association of Realtors® NAR 2013 Investment and Vacation Home Buyers Survey, which covers existing- and new-home transactions in 2012, there was a 10.1 % increase of vacation home sales. Vacation-home sales accounted for 11 percent of all transactions (investor, vacation and owner-occupied). “Seventy-eight percent of all second-home buyers said it was a good time to buy, compared with 68 percent of primary residence buyers. “This suggests that second-home buyers tend to be a step ahead of general buyers in sensing a market recovery,” Yun says. Buyers plan to own their recreational property for a median of 10 years.
Lifestyle factors remain the primary motivation for vacation-home buyers. Buyers listed many reasons for purchasing a vacation home: 80 percent want to use the property for vacations or as a family retreat; 27 percent plan to use it as a primary residence in the future; 23 percent plan to rent to others; and 23 percent wanted to diversify their investments or saw a good investment opportunity. “We had a strong stock market recovery, which helps more people in the prime ages for buying vacation homes,” says NAR Chief Economist Lawrence Yun. . “With rising prices and limited inventory, investors are likely to step back in coming years.” The portion of investment sales was 24 percent in 2012, the second highest share since 2005. Thirty-five percent of investment buyers purchased more than one property. Investors generally are renovating and improving properties before placing them back on the market to resell at a profit.
Fifty-five percent of investment buyers said they purchased for rental income, 30 percent wanted to diversify their investments or saw a good investment opportunity, and 20 percent wanted to use the home for vacations or as a family retreat. Forty-seven percent of investment buyers said they were likely to purchase another investment property within two years, as did 37 percent of vacation-home buyers.
The South was the most sought after purchase area with forty-five percent of the vacation homes purchased last year in the South and thirty-six percent of investment properties purchased last year in the South. The Marco Island/Naples market is reaping the benefits of both the buyers’ preference for properties in the south and lifestyle properties as our market is unbeatable for both of those criteria.
Please call the Sandlin Team direct today at 239-642-4450 or e-mail firstname.lastname@example.org for more details.
Marco Island & Naples FL Real Estate Sales are up!
More good news! The number of active listings is down 22% from a year ago which also improves the overall market absorption rate. In November, the number of home pendings was up 10% over a year ago November. Lot pendings remained the same. The number of condo pendings was up 50%, a real boost for the condo market. The number of closed homes in November was up 47% over a year ago. The number of closed lots in November was up 100% from 7 closed lots a year ago November to 14 closed lots this November. The number of closed condos in November was up 78% from a year ago. We are excited about these positive market indicators- now is the time to buy!
Market Stats for November 2012
Buying in Marco Island is not only buying a good investment, it is buying a great lifestyle! The market has turned the corner with significant and steady growth in the number of units sold and in the dollar volume sold. The number of properties for sale is down 24 % from a year ago. As of November there were 290 single family homes for sale, 510 condos for sale and 253 vacant lots for sale. Year to date as compared to the same period a year ago, there was a 21.2 % increase in number of units sold: 294 single family homes, 395 condos and 146 lots.
The prices are right and heading up, the interest rates are historically low, and the lifestyle can’t be beat- our weather, beach, boating, golfing, fishing, tennis, shelling, bird watching, restaurants & shopping and more. Don’t miss your opportunity to own a piece of paradise. E-mail us at info@MarcoRealtySource.com for more details.
November 2012 Excellent Sales Activity on Marco Island
Here is a recap of the sales activity on Marco Island as reported through MLS statistics for the first 3 quarter of 2012 as compared with first 3 quarters of 2011:
2012: 858 total sales
2011: 708 total sales
The total sales volume is up $57 million or 15.69 percent
Current Inventories as of October 10:
Single family: currently 271 for sale, last year 392 for sale
Condominiums: currently 464 for sale, last year 655 for sale
Vacant lots: currently 239 for sale, last year 337 for sale
Clearly many people are taking advantage of the historic low interest rates with 30 year fixed rates below 4% as well as the excellent price opportunities to buy their piece of paradise on Marco Island.
October 2012 Market Stats for Naples, Florida Area
A 12 percent jump in overall pending sales marked the third quarter of Naples Area real estate, as compared to the third quarter 2011. In addition, overall pending sales for September 2012 increased 22 percent compared to September 2011, according to a report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County.
“The Naples area has just moved from a buyers’ market to a buyers’ and sellers’ market with tremendous opportunities for both,” stated Brenda Fioretti, NABOR Media Relations Chairman.
Cindy Carroll, Vice President of Carroll & Carroll Real Estate Appraisers & Consultants stated, “More inventory would be helpful to the market. Resale inventory continues to decline despite the fact that new home building has returned.”
Pending sales of single family homes in the $500,000 to $ 1 M category had an increase of 15 percent from third quarter 2011 to third quarter 2012, and closed sales were up 4 percent for the same time period. The strong activity contributes to the inventory levels falling below 3,000 for single family homes.
The third quarter report provides quarterly comparisons of single-family home and condo sales (via the Sunshine MLS), price ranges, geographic segmentation and includes an overall market summary. An overall summary combines the statistics for both single family and condominium properties for third quarter 2012 compared to third quarter 2011:
- Overall inventory decreased 12 percent from 7,069 for the third quarter 2011 compared to 6,195 in the third quarter 2012.
- Overall pending sales increased 12 percent from 2,103 pending sales in the third quarter 2011 to 2,362 pending sales in the third quarter 2012.
- The median closed price increased 10 percent from $175,000 in the third quarter 2011 to $192,000 in the third quarter 2012.
- Naples coastal area overall pending sales increased 17 percent reflecting 388 pending sales in the third quarter 2012 compared to 331 pending sales in the third quarter 2011.
- Overall pending sales increased 96 percent in the $300,000 to $500,000 category from 67 pending sales in September 2011 to 131 pending sales in September 2012.
- In the $500,000 to $2 million price categories for the third quarter, there was an increase in pending and closed sales
Now is the time to take advantage of current market conditions and the American Dream of Homeownership. E-mail the Sandlin Team today for more details at info@mMarcoRealtySource.com.
Current Market Activity for Marco Island, Florida as of September 1, 2012
The number of active homes for sale is down 27% from a year ago. The number of active condos for sale is down 23% from a year ago. The number of active lots is down 23% from a year ago. This trend of decreasing inventory has been consistent and is a positive market indicator.
The number of homes under contract is up 50% from year ago at this time. The number of condos pending is exactly the same as a year ago at this time. The lots sales activity is still the most sluggish with half as many pending lots as homes or condo. However, the number of pending lots is up 150% from a year ago so the tide is turning and the activity in lot sales is increasing.
The number of closed homes in August was up 57% over a year ago August. The number of closed condos was up 30% over a year ago. And again, the lots activity improvement was the most significant but still has a way to go to catch up with the number of closings up 166% over a year ago.
Call the Sandlin Team for more detailed info on the best market opportunities. 239-389-3200.
Great Market News as of August 1, 2012
The number of active listings on the market in Marco Island is down 24% from a year ago. This is a good positive market indicator. The number of homes under contract is up 43% over a year ago. The number of pending lots is up 80%. And the number of condos under contract is up 49% over a year ago. These are very positive numbers as of August 1, 2012 as compared with August 1, 2011.
February, 2012- Big boost to Marco Island/Naples Real Estate Sales- Baby Boomers geared up to move south- Florida is high on their wish list and Marco Island/Naples matches all their top priorities! Read details below:
WASHINGTON, D.C. – Where will baby boomers go to retire? A new survey conducted by Mason-Dixon Polling & Research for the Consumer Federation of the Southeast finds one in three could move out of their home state in search of low taxes , low housing costs, pleasant climates and quality health care. They also want diverse recreational activities, supportive senior services, arts and cultural opportunities, nearby beaches and access to education.
The baby boom generation has 78 million members, and the first wave – those born in 1946 – reach the full age for Social Security retirement benefits this year.
According to the survey, a full third of baby boomers are open to moving across state lines to find the assets they are looking for, including a mid-size town that welcomes a diverse population.
“According to this survey, substantial numbers (of baby boomers) are interested in relocating in retirement,” says Walter Dartland, president of the Consumer Federation of the Southeast. “The decisions they make about where they will retire will have a huge impact not only on their families’ finances but on the communities to which they move.”
Attracting even a small percentage of boomers can significantly impact a community. If just 0.3 percent move to a single area, it adds an estimated 1 billion per year in new economic income through jobs and new business.
“This important survey, one of the most extensive of its kind in a decade, underscores the tremendous contribution that Americans aged 50 and older can offer to communities wherever they choose to live,” says Jeff Johnson, AARP Florida’s interim state director. “AARP Florida believes this research will help inform the efforts of many communities to better equip themselves to address issues important to a 50-plus population.”
• More than half (58 percent) plan to buy a house in their retirement relocation destination.
• Some 96 percent of baby boomers surveyed say top-quality health care services are “very” or “somewhat” important to them in considering a relocation destination.
• Affordable housing ranks second, with nearly 92 percent ranking that as a “very” or “somewhat” important criterion.
• A warm, welcoming year-round climate is “very” or “somewhat” important to 85.5 percent – but a strong plurality of this group want their warm summers to be paired with a few cooler months.
•Low local taxes are “very” or “somewhat” important to 81.1 percent.
• Eight out of 10 relocating boomers want affordable recreational opportunities in a relocation destination, and about the same number seek strong local services for elder care.
• Seven in 10 prefer a mid-size city or small town.
• Arts and cultural opportunities are very or somewhat important to three in four.
• Beaches or ocean nearby is very or somewhat important to about six in 10.
• Educational opportunities are important to about half. A large university is a plus for four in 10 boomers willing to consider relocation.
• Diversity in a location is very or somewhat important.
54 percent of respondents indicated that the weak economy was not delaying their retirement plans, but about 36 percent said that the economy had delayed retirement.
Pollsters asked respondents to name – unprompted and with no suggested options – a state they might consider relocating to for retirement. About 18 percent mentioned Florida as a top relocation destination.
Call or e-mail today for more details on the best real estate opportunities in Marco Island and Naples. 239-389-3200 or info@MarcoRealtySource.com
(The survey, conducted by Mason-Dixon Polling & Research between Nov. 14 and 22, 2011, surveyed 1,100 Americans ages 47 to 65 who said they would relocate in retirement, were considering relocation or weren’t sure. All respondents surveyed lived in the eastern half of the U.S., outside of Florida. The survey carries a margin of error of plus or minus 3 percent.)
International Sales Lift South Florida Real Estate Market- November, 2011
South Florida is already the nation’s epicenter for residential real estate sales to foreign buyers, and experts said Monday that they expect those international sales to be even stronger in 2012.
“You have a unique opportunity for the next few years,” reported Moe Veissi, the president-elect of the National Association of Realtors®, “You are at the juxtaposition of the best global real estate market we’ve ever seen in this country.”
In 2007 and 2008, California led the nation in international sales, but Florida pulled ahead in 2009 and has been at the front of the pack ever since, accounting for nearly one-third of international transactions in 2011. Global buyers now account for $82 billion of residential purchases in the United States.
International buyers, especially from South America, see “real value” in South Florida real estate. Foreign buyers largely pay cash and also purchase higher-priced real estate. Condos continue to be foreign buyers’ residence of choice with condominium sales accounting for more than 70 percent of purchases.
The new survey also indicates that buyers from markets that weren’t a blip on the screen a few years ago are prospecting for South Florida properties. The survey reveals, for example, that buyers from India and China now each account for about 1 percent of international sales in the local market
Homes Prices are Up in Naples, Florida Area, October 1, 2011
According to Melissa Dittmann Tracey, Realtor® Magazine Daily News and Realtor.com data, Florida cities have had the largest year-over-year increases in average list prices. Based on August data of 2.2 million listings in 146 markets, Florida cities make up nine of the top 10 places for highest year-over-year list price spike with Naples area showing a year-over-year increase of 15.13%. Nationwide, the average list price is up 2.36 percent year-over-year.
U.S. Homes: Now the Best Deal in Recorded History – June 1, 2011
By Dr. Steve Sjuggerud
Now is literally the best time in recorded history to buy a house in America…
Right now – today – U.S. real estate is the most affordable it’s ever been. Ever.
When I say “affordable,” I’m looking at three things: house prices, mortgage rates, and incomes.
With the Affordability Index near 200, the median family has 200% of the income necessary to buy the median home (or more specifically, to qualify for a conventional loan on the median home).
It’s easy to see where we are now…
Right now, as you know, house prices are sitting near new lows for this cycle, down by roughly one-third (depending on who’s counting). And right now, mortgage rates – after ticking above 5% earlier this year – are all the way down to 4.5% again, near all-time lows.
So it’s simple: With the worst house-price crash in American history, combined with the lowest mortgage rates in history, you can now afford more home than ever.
Now is the best time in American history to do it.
Reprinted from www.daily wealth.com investment newsletter Wednesday June 1, 2011.
About the author…
Dr. Steve Sjuggerud is the founder and editor of one of the largest financial newsletters in the world, True Wealth which he began writing in 2001. Steve’s investment philosophy is simple: “You buy something of extraordinary value at a time when nobody else wants it. And you sell it at a time when people are willing to pay any price to get it.”
Healthy Signs for Florida’s Real Estate Market – May 10, 2011
WASHINGTON – May 10, 2011 – Florida’s population growth during the past decade was the 3rd greatest of any state. The 2000-2010 period was the fourth consecutive decade to see the Florida population grow by more than 2.8 million residents. According to the 2010 Census, Florida’s population was 18,801,310 on April 1, 2010, an increase of 2,818,486 since April 1, 2000, or 17.6 percent.
Florida’s existing home and existing condo sales rose in first quarter 2011 compared to the same period a year earlier, according to the latest housing statistics from Florida Realtors®. Existing home sales increased 13 percent in the 1st quarter of 2011 with a total of 44,531 homes sold statewide; during the same period the year before, a total of 39,406 homes changed hands according to Florida Realtors. Statewide sales of existing condos in the first quarter rose 29 percent compared to the year-ago sales figure.
All these statistics are healthy signs for Florida’s real estate market.
Great News for Florida Real Estate Sales – April 20, 2011
Florida’s existing home and existing condo sales rose in March, according to the latest housing data released by Florida Realtors®. Existing home sales increased 12 percent last month with a total of 18,522 homes sold statewide compared to 16,540 homes sold in March 2010, according to Florida Realtors. Statewide sales of existing condos last month rose 24 percent compared to the year-ago sales figure.
Marco Island & Naples FL Real Estate Market News- April 8, 2011
This has been the best year for tourism for Marco Island & Naples in the past 5 years. Tourism supports sales so that is a strong positive market indicator. Pendings are up 33% over a year ago. That confirms the positive real estate market trend in Marco Island and Naples Florida.
Good News for Florida Real Estate- January 17, 2011
According to Moody’s Analytics economy.com as reported by USA Today, Florida is forecast to have a 3 percent job growth rate in 2011 which means more home buyers. The state’s construction industry is estimated to see the largest job growth with an increase of 26.7 percent. The Leisure and hospitality industry is projected to increase 3.4 percent. This is good news that economy is turning the corner reported the Florida Tribune.
Wealthy Americans upgrade to pricier primary homes July 13, 2011
NEW YORK – A new survey by the independent New York City-based Luxury Institute and the Institute for Luxury Home Marketing finds that high net-worth U.S. homeowners are taking advantage of the downturn in prices and trading up into higher-priced residences.
Lured by lower prices, one in four U.S. consumers with an annual income of $150,000 or more have bought a residential property since 2008 at a median purchase price of $509,000 – an increase of 3.2 percent from the 2005 to 2007 period. Seventeen percent plan to purchase additional property this year, while 23 percent of those younger than 50 plan to buy in 2011.
More than one-third (37 percent) of the wealthy value their homes at $1 million or higher, while 32 percent assess their primary residence to be worth $500,000 or less.
“Luxury is the good news story in real estate,” says Laurie Moore-Moore, CEO of The Institute for Luxury Home Marketing. “The number of wealthy households has jumped back to pre-recession levels and affluent home buyers are actively purchasing. The National Association of Realtors’ statistics show that national home sales at $1 million and above were up more than 18 percent year-over-year in 2010. Strong activity continues this year as well.”
Summer Home Sales Are Up Significantly In Marco Island, FL
There are some very positive statistics directly from the Marco Island Area Association of Realtors Multiple Listing Service which continue to show high sales activity for Marco Island.
Specifically, pending listings for all property types are up from July 2010 to July 2011 by 46.43%. The percentage of all property types that closed on Marco Island is up by 68% from last year. In fact, the average sales price is up by 27.17% and the median sales price is up 19.05%. The total dollar volume was up 104.71% in the yearly July 2010 and July 2011 comparison.
A breakdown of property types shows higher closed statistics for all property types, single family, lots and condos. In the July 2010 and July 2011 comparison, the number of single-family home sales was up 63.16 %, the average sales price was up 24.81% and the median sales price was up 27.61%. The total volume sold was up 103.63%.
Closed lot sales were up 66.67% in the same comparison and the average sales price was up 84.45 percent. The number of multifamily properties closed was up 53.33% and the average sales price was up 12.57 percent.
Meanwhile, inventory on Marco Island continues to decrease. Active listings of all property types are down in the July 2010 and July 2011 comparison by 13.90%.
New listings coming on the market were down in the same comparison by 13.77%.
The good news on sales along with historically low interest rates makes this an exceptional opportunity time to buy on Marco Island. Please call or e-mail us today- it would be our privilege to serve you. info@MarcoRealtySource.com or 239-389-3200.