How’s the Market Doing?

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What a difference a year makes!  Today I’m outlining some general market statistics for Real Estate in the Naples, Bonita Springs, and Estero areas only.  As you’ll see, things are definitely improving in our area and there’s hope for us after all!  Some common questions that I’m asked almost daily: Are prices going up? Is the market improving? Are we at the bottom? Is now a good time to buy? How about selling? Hopefully these statistics will shed some light.

 

From 1/1/2010 to 12/1/2010, we had 21,434 new listings come onto the market and 1,906 of them were listed at $1 million or more.  For the same time period in 2011, we saw only 18,685 new listings come onto the market and of those 1,646 were listed at $1 million or more.  That’s a reduction of new listings this year by nearly 13%!  That’s exciting when supply (sellers) lessens and demand (buyers) increases because that’s when we start to see prices increase.  In the $1 million plus category, we saw a decrease of almost 14% in new listings to the market this year.
With pending sales from 1/1/2010 to 12/1/2010, there were 12,208 homes. Of those, 714 were listed at $1 million or more.  For the same time period in 2011, we saw pending sales jump up to 12,882 and in the $1 million plus category, they increased to 791 homes.  That’s an increase of 5.5% in pending sales this year over last and almost an increase of 11% in the $1 million category for pending sales.

 

Closed sales from 1/1/2010 to 12/1/2010 were at 9,196 homes and of those 648 were listed at $1 million or more.  For the same time period in 2011, we saw 10,025 homes sold and in the luxury home market it increased to 714.  That equates to a 9% increase in closed home sales this year over last and also an increase of 10% for homes over $1 million.  (All statistics are from SunshineMLS)

 

Ladies and gentlemen, this is the sign of a healthy market!  We have fewer homes on the market, pending home sales are up, and closed homes sales are up compared to last year.  Another telltale sign is that the luxury home market is picking up with pending sales and closed sales also increasing this year over last.  If you are a buyer, don’t wait too long. Things they are a changing! If you are a seller, now might be a good time to take advantage of this change in the market.

 

 

Need help Selling, Buying, or with Property Management?  Please contact Gabe for advice at:  239.825.2234, Gabe@GulfPointeProperties.com or www.GulfPointeProperties.com Gabe Mellein is the broker of Gulf Pointe Properties,   He has 8 years experience in the SW Florida Real Estate Market.  He is a member of The Naples Area Board of Realtors, Bonita Springs – Estero Association of Realtors, Realtor Association of Greater Fort Myers and the Beach, The Florida Association of Realtors, The National Association of Realtors, and is nationally certified in Feng Shui for Real Estate.

 

 

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