Naples Real Estate Report – 3Q 2018: Market Remains Strong

Naples real estate market report 3rd Quarter 2018

Naples, Fla. (October 19, 2018) – One year after Hurricane Irma, overall closed sales in Naples increased 62 % to 644 homes in September of 2018 compared to 398 closed sales of homes in September of 2017. According to broker analysts, this impressive increase in month over month sales is a result of the effect of the hurricane when homes sales halted following the massive storm.
“The September Market Report shows how resilient and desirable our market is,” said Lauren U. Melo, PA, Licensed Real Estate Broker with Florida’s Realty Specialists. “A 3 % increase in pending and closed sales, year over year, is strong considering the reduced sales activity during the troubled period following the hurricane. This was when many sellers were making repairs caused by the hurricane. The September statistics show that our market is in a good position to see positive activity for the fourth quarter.”
Here are the major points of this Naples real estate market report for the 3rd Quarter of 2018:

  • Overall pending sales in the third quarter are up 20 % closed sales are up 13 % the median closed price is up 3 % inventory is up 4 % and the days on market decreased 1 %.
  • Closed sales of homes between $300,000 and $500,000 increased 24% more than other categories.
  • Pending Sales for the condominiums market increased 21% and closed sales 20%.

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Florida Housing Market Continues Positive Track in Sept. 2018

ORLANDO, Fla. – Oct. 19, 2018 – Florida’s housing market reported more closed sales, higher median prices and more pending sales in September compared to a year ago – when Hurricane Irma struck the Florida Keys on Sept. 10, 2017 – according to the latest housing data released by Florida Realtors®. Sales of single-family homes statewide totaled 21,087 last month, up 17 percent compared to September 2017.
September was the 81st month-in-a-row (over six and a half years) that statewide median sales prices for both single-family homes and condo-townhouse properties increased year-over-year. The statewide median sales price for single-family existing homes was $251,610, up 4.9 percent from the previous year, according to data from Florida Realtors Research Department in partnership with local Realtor boards/associations. Thestatewide median price for condo-townhouse units in September was $182,500, up 5.5 percent over the year-ago figure. The median is the midpoint; half the homes sold for more, half for less.
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U.S. mortgage rates up; 30-year at 7-year high, 4.72%

WASHINGTON (AP) – Sept. 27, 2018 – Long-term U.S. mortgage rates are up for the fifth straight week, with the key 30-year rate reaching its highest level in more than seven years.

Costs for would-be homebuyers continue to climb. Mortgage buyer Freddie Mac said Thursday that the average rate on 30-year, fixed-rate mortgages jumped to 4.72 percent from 4.65 percent last week. The average benchmark rate has risen from 3.83 percent a year ago.

The average rate on 15-year, fixed-rate loans increased to 4.16 percent this week from 4.11 percent last week.
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Naples Real Estate Market Report – July 2018

Naples Real estate Market Infographics July 2018

July Housing Market in Naples Defies National Trends

Naples, Florida. (August 24, 2018) – According to the National Association of REALTORS July market report, existing home sales in America decreased for the third straight month as a result of the severe housing shortage that is not releasing its grip on the nation’s housing market.
Conversely, homes sales in the Naples area were up 8 % in July according to the July 2018 Market
Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). The nation has only a 4.3-month supply of home inventory, while Naples has a healthier 6.25-month supply of inventory.
“The Naples area overall median home price increase in July 2018 seems to be the only statistical category where we match national trends,” said Kathy Zorn, “Naples saw an 8 % increase in its overall median closed price in July 2018 compared to July 2017; whereas nationally, median closed prices went up just 4 %

Here are the major points of this Naples real estate market report for July 2018:

  • Home Sales up 8% in July 2018 compared to July 2017.
  • Inventory fell 1% to 4,871 properties, compared to July 2017.
  • 39% increase in condominium closings in the Naples Beach area (West of US 41).
  • Overall Pending Sales up 11% in July.
  • Pending Sales for luxury condominiums ($2 million +) up 150% in July!
  • Cash Sales account for 50% in Naples (compared to 20% nationwide).

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Florida Real Estate Market: Sales, Median Prices Up in May

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.”
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Home flipping slows in 55% of U.S. markets

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.
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Naples Real Estate Market Report – April 2018

Click to View InfographicsInventory Keeping Spring Market Active 

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

View Complete Naples Real Estate Market Report – April 2018…
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View Complete Naples Real Estate Market Statistics – April 2018

Florida Real Estate Market – Sales, Median Prices, New Listings Up in April 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.

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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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