Florida Real Estate Market: Sales, Median Prices Rise in December

Florida’s housing market reported more closed sales and higher median prices in December, according to the latest housing data released by Florida Realtors®. Sales of single-family homes statewide totaled 22,903 last month, up 2.6 percent compared to December 2016.
“Florida’s housing market continued to experience tight inventory of for-sale homes in December, and that’s definitely impacting the market,” said 2018 Florida Realtors President Christine Hansen, broker-owner with Century 21 Hansen Realty in Fort Lauderdale. “Last month, statewide median sales prices for both single-family homes and townhouse-condo properties rose year-over-year for 72 months in row. For sellers, that’s good news; however, rising prices and tight inventory are putting pressure on first-time homebuyers and those who may be looking for their next ‘move-up’ home.
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Florida Homes Sales, Median Prices Up in November

Florida’s housing market continued its positive track in November, with more closed sales, more new listings, more pending sales and rising median prices

Florida’s housing market continued its positive track in November, with more closed sales, more new listings, more pending sales and rising median prices according to the latest housing data released by Florida Realtors®. Sales of single-family homes statewide totaled 19,990 last month, up 1.3 percent compared to November 2016.
“In November, Florida’s housing market reflected the trends we’ve grown accustomed to seeing throughout this year,” said 2017 Florida Realtors President Maria Wells, broker-owner with Lifestyle Realty Group in Stuart. “More owners decided to put their homes up for sale. New listings for single-family existing homes rose 1.8 percent year-over-year, while new listings for existing condo-townhouse properties rose 5.9 percent. However, even with the increase in new listings, inventory was still tight and buyer demand was great. Homes continued to sell quickly, resulting in increased pending sales – up 5.5 percent for single-family homes and up 9.3 percent for condo-townhouse units.
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Bubble? Nowhere in sight for U.S. housing market

Oct. 24, 2017 – U.S. housing markets are expected to remain healthy through at least the end of 2018, with no housing bubble in sight and no projection of home prices falling, according to the Fall 2017 edition of The Housing and Mortgage Market Review (HaMMR), released by Arch Mortgage Insurance Company.
“People waiting for home prices to fall before buying may want to change their strategy, as the overall housing market is expected to stay strong for the foreseeable future,”
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Naples Is Open For Business – Time To Come Back!

Despite Hurricane Irma hitting Florida in September, Naples is well back into business! Tremendous efforts have been made to clean up the landscaping and trees down. Is is time to come back! You will never notice a hurricane hit our town.
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Hurricane victims: A recap of key IRS tax relief

WASHINGTON – Oct. 10, 2017 – The Internal Revenue Service (IRS) offered a rundown of key tax relief available to victims of Hurricanes Harvey, Irma and Maria. In general, the IRS relief to individuals and businesses applies anywhere in Florida, Georgia, Puerto Rico and the Virgin Islands, as well as parts of Texas.
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New Construction Could Be Delayed – SW Florida

New construction could be delayed because of Hurricane Irma.

Future homeowners, with houses currently under construction, will have to wait a bit longer than expected to move in. Hurricane Irma has set back timetables for everything from labor to supplies. The hurricane could also be costly for developers who have contracts with fixed prices.

Richard Durling, president of the Lee Building Industry Association (Lee BIA) and owner and president of Marvin Development Corp., said people should expect delays and higher costs.

“The first thing is cleanup and recovery which is what everyone is in gear to do right now,” Durling began. “Until that occurs, it will be a little slow to get back on schedule for the new constructions jobs.”
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Hurricane Irma – Update – Florida Impact

Having lived twelve years of my life in St Martin (which has been devastated today by Category 5 Irma) I have been following hurricanes for almost 25 years, being an Hurricane geek… collecting websites and data to follow the storms.
Tonight (11 PM EST) it seems the tracks trend to a Florida East coast impact from Miami to West Palm Beach and up to Jacksonville.
Naples, Fort Myers or Tampa are still in the projection cone because of the humongous size of Irma. We still need to be vigilant though…
Hoping and praying that the East coast will be spared by this catastrophic storm!

Florida Real Estate Market: Sales, Median Price up in July

Just like the weather, Florida’s housing market was hot in July with more closed sales, higher median prices, increased pending sales and more new listings, according to the latest housing data released by Florida Realtors®. Sales of single-family homes statewide totaled 24,546 last month, up 2 percent compared to July 2016.
The statewide median sales price for single-family existing homes last month was $240,000, up 7.1 percent from the previous year.
Inventory remained tight in July with a 3.9-months’ supply for single-family homes and a 5.6-months’ supply for townhouse-condo properties, according to Florida Realtors.
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Naples Real Estate Market: Median Price Increases 22% in April 2010

For the second consecutive month the median closed price increased in the Naples real estate market area.
The overall median closed price increased 22% in April 2010 compared to April 2009 passing from $170,000 in April 2009 to $208,000 in April 2010.
Traditional sales (in opposition to distressed sales made 69% of the total number of closed sales in March 2010.
Overall home sales increased 46%:

  • 914 sales in April 2010.
  • 626 sales in April 2009.

The total inventory decreased 13% to 9,239 in April 2010 from 10,574 in April 2009.
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Naples Real Estate Trend – Closed Sales Up 39%

The real estate market continue to improve in the Naples area (Florida). For the two first months of the year, closed sales* increased 39% compared to the same months of 2009:

  • 778 closed sales in Jan-Feb 2009.
  • 1082 closed sales in Jan-Feb 2010.

(* includes all sales in the Naples area – SouRce: SunshineMLS)
This large increase confirms the trend for the past few months. Due to large price reductions, buyers are back and are taking advantage of great price for properties with an excellent location.
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