Real Estate News, Real Estate Market Updates & Trends for Naples, Bonita Springs, Estero and South Fort Myers, Florida. New Construction, Waterfront Properties, Golf Communities – Dominick Tascher Group with MVP Realty.
Author: Dominick Tascher Group - Blog
Naples to Estero Real Estate Blog by Dominick Tascher Group at MVP Realty brings to the public the latest information about real estate news and trends, market reports, new communities and also topics related to living in the paradise of SW Florida; Naples, Bonita Springs, Estero and South Fort Myers.
ORLANDO, Fla. – July 16, 2018 – Florida’s gross domestic product topped $1 trillion Friday, an economic output that would make the Sunshine State the world’s 17th largest economy if it were an independent country, the state chamber said.
The milestone has been expected. University of Central Florida economic analyst Sean Snaith said the state has been strong in all areas of employment.
Florida’s economy has grown larger than Saudi Arabia’s, Switzerland’s and Argentina’s, the chamber said. Read Full Article… Buy your dream homes in SW Florida…
Bay Colony, Naples Florida. This is a real estate market update for the beachfront condominiums in prestigious Bay Colony, for the six first months of 2018. Bay Colony is an exclusive gated enclave in Pelican Bay, offering large estate homes and luxury high-rise residences. Six luxury high-rises sit on the shores of the Gulf of Mexico: Contessa: Contessa is the most southern tower in Bay Colony. Built in 1991. – 1 condo on the market: http://search.dominicktascher.com/i/contessa-at-bay-colony-condominiums – 4 condominiums have sold YTD. From $2,750,000 to $3,200,000. – Average Days On Market: 76. – Average Sale Price: $2,881,250 – Average SP/SQFT: $1,235. View Sales.
McLEAN, Va. – June 28, 2018 – Mortgage rates declined over the past week and have now retreated in four of the past five weeks, according to Freddie Mac’s weekly Primary Mortgage Market Survey. The 30-year fixed-rate mortgage dropped to an average 4.55 percent compared to last week’s 4.57 percent. Read Full Article… View Featured Listings… View All Homes For Sale in Naples…
WASHINGTON (AP) – June 21, 2018 – Long-term U.S. mortgage rates fell this week, marking their third decline in the past four weeks after increasing last week.
Mortgage buyer Freddie Mac said Thursday that the average rate on 30-year, fixed-rate mortgages was 4.57 percent, down from 4.62 percent last week. By contrast, the 30-year rate averaged 3.90 percent a year ago.
ORLANDO, Fla. – June 20, 2018 – In May, Florida’s housing market reported more sales, higher median prices and more new listings from owners ready to sell, according to the latest housing data released by Florida Realtors®.
“Strong demand from buyers, coupled with a lack of for-sale inventory, continues to have an impact on rising median prices in many local housing markets,”. “Home sellers continued to get more of their original asking price at the closing table. Sellers of existing single-family homes in May received 96.7 percent (median percentage) of their original listing price, while those selling townhouse-condo properties received 95.1 percent (median percentage).
“However, it appears that our tight inventory may be easing slightly: New listings for single-family homes in May rose 4.8 percent year-over-year, while new townhouse-condo listings increased 6 percent. If the trend continues, that could mean good news for buyers who have been waiting on the sidelines.” Read Full Article… Find your Dream Home in SW Florida…
IRVINE, Calif. – June 7, 2018 – ATTOM Data Solutions’ Q1 2018 U.S. Home Flipping Report finds that 48,457 U.S. single family homes and condos were flipped in the first quarter of 2018 – a 4 percent drop quarter-to-quarter and 3 percent drop year-to-year.
In Florida, the number of homes flipped and profitability of those flips varied by metro area. In Miami, flipping was down 16 percent year-to-year, according to ATTOM, and down 13 percent in Tampa-St. Petersburg.
Florida also made ATTOM’s list based on the average number of days it takes to flip a home. On the fast-to-flip side, it took 99 days in Jacksonville. However, Naples – at 220 average days to flip a home – made the list of cities where flipping takes time. Read Full Article…
TALLAHASSEE, Fla. – June 5, 2018 – There hasn’t been much good insurance news to report for Florida property owners over the past several years.
Premiums for most South Florida policyholders have increased significantly over the past three years – a result of claims abuses and sharp upticks in costly litigation for major insurance carriers. And those factors are expected to trigger rate hikes for most area property owners again this year.
But here’s a bright spot, such as it is: Your 2018 policy cost won’t increase as much as insurance executives had expected following $140 billion in catastrophe losses last year from events that included hurricanes Irma, Harvey and Maria, and wildfires in California. Read Full Article…
Naples, Fla. (May 25, 2018) – According to the April 2018 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), Collier County enjoys 7.76 months of inventory compared to a 4-month supply nationally. This is great news for Naples REALTORS® as they transition from a very busy high season to what broker analysts believe will be a very strong summer. Here are the major points of this Naples real estate market report for April 2018:
Overall Pending Sales increased over 20% in the $1M+ categories 12-months ending 4/2018
Overall Closed Sales increased over 30% in the $1M+ categories 12-months ending 4/2018
Overall Median Closed Price increased 5% 12-months ending 4/2018
Overall Inventory decreased double digits in the $1M+ categories Apr 2017 to Apr 2018
Overall Average DOM decreased 27% in the $500K-$1M category Apr 2017 to Apr 2018
In April, Florida’s housing sector reported more closed sales, higher median prices and more new listings from owners ready to enter the market, according to the latest housing data released by Florida Realtors®.
View the detailed reports for Collier and Lee counties in the links below, showing a strong market with a continuous decrease of inventory and increase of selling price.