Naples Real Estate Market 2016

Naples Real Estate Market 2016

Naples Real Estate Market 2016: First Quarter Inventory is Reason to Smile

Naples Real Estate Market 2016: Naples, Fla. (April 15, 2016) – According to statistical data in the First Quarter 2016 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), buyers, sellers and REALTORS® have a good reason to smile because inventory is on the rise; making the Naples area housing market more stable than any previous quarter in the last eight years.

“Our seasonal buyers seemed to get off to a slow start this year, but showing activity has picked up in the last six weeks,” said Kathy Zorn, concurring with fellow broker analysts reviewing the statistics that their firms also reported recent increases in property showings.

According to the report, overall inventory for the first quarter of 2016 increased 33 percent to 5,651 homes from 4,253 homes in the first quarter of 2015. Leading the rise in inventory by percentage of increase during the first quarter of 2016 were condominiums in the $1 million to $2 million category, which increased 61 percent to 208 condominiums from 129 condominiums in the first quarter of 2015. Leading the rise in inventory by the number of units were condominiums in the $0 to $300,000 price category, which increased 33 percent in the first quarter 2016 to 1,181 condominiums from 887 condominiums in the first quarter of 2015. Geographically, the overall inventory in North Naples (34109, 34110, 34119) increased the highest percentage in the first quarter of 2016 by 43 percent to 1,630 homes from 1,142 homes in the first quarter of 2015.

Overall pending sales (homes under contract) in the first quarter of 2016 decreased 23 percent to 2,786 homes pending from 3,628 homes pending in the first quarter of 2015. The only pending sales category that increased was the single-family $500,000 to $1 million price category, which increased 11 percent to 308 single-family homes pending in the first quarter of 2016 from 277 single-family homes pending in the first quarter of 2015.

“A five percent decrease in overall closed sales [12-months ending] isn’t bad considering 2015 was a phenomenal year,” said Rick Fioretti, NABOR® President.

There were 9,352 overall closed sales in the 12-months ending first quarter 2016 compared to 9,873 overall closed sales in the 12-months ending first quarter 2015. Added Fioretti, “That, coupled with prices remaining steady in all sectors above $300,000, indicates market stabilization.”

The report also showed traditional sales are at the highest level on record at 95 percent since NABOR® began tracking activity in July 2009 when traditional sales were reported at 51 percent of all sales. Only 5 percent of closed sales in March 2016 were non-traditional, short sales or foreclosed properties.

According to Cindy Carroll, SRA, with the real estate appraisal and consultancy firm Carroll & Carroll, Inc., “The report indicated that we had 7.2 months of inventory in March. This is an important number to watch as I think it shows a stabilization trend is well rooted.”

The NABOR® First Quarter 2016 Market 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. The NABOR® First Quarter 2016 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:

  • Overall pending sales decreased 23 percent to 2,786 in 1Q 2016 from 3,628 in 1Q 2015.
  • Pending sales for single-family homes in the $500,000 to $1 million price category increased 11 percent to 308 single-family homes in 1Q 2016 from 277 single-family homes in 1Q 2015.
  • Overall closed sales decreased 5 percent to 9,352 homes in the 12-months ending 1Q 2016 from 9,873 homes in the 12-months ending 1Q 2015.
  • Overall median closed price increased 12 percent to $311,000 in the 12-months ending 1Q 2016 from $278,000 in the 12-months ending 1Q 2015.
  • Overall inventory increased 33 percent to 5,651 homes in 1Q 2016 from 4,253 homes in 1Q 2015.
  • Inventory for condominiums in the $300,000 and below price category increased 33 percent to 1,181 condominiums in 1Q 2016 from 887 condominiums in the 1Q 2015.
  • Average days on market decreased 9 percent to 77 days in 1Q 2016 from 85 days in 1Q 2015.

The NABOR® March 2016 Market Report reflects these overall (single-family and condominium) findings:

  • Overall pending sales decreased 25 percent to 1,136 homes in March 2016 from 1,520 homes in March 2015.
  • Overall closed sales decreased 25 percent to 794 homes in March 2016 from 1,063 homes in March 2015.
  • Closed sales in the $500,000 – $1 million single-family home price category increased 34 percent to 90 single-family homes in March 2016 from 67 single-family homes in March 2015.
  • Overall median closed price increased 8 percent to $323,000 in March 2016 from $300,000 in March 2015.
  • Overall median closed price increased 101 percent in the Immokalee/Ave Maria area to $239,000 in March 2016 from $119,000 in March 2015.
  • Median closed price for condominiums in the $2 million and above price category increased 18 percent to $2,837,000 in March 2016 from $2,405,000 in March 2015.
  • Average days on market decreased 4 percent to 76 days in March 2015 from 79 days in March 2015.
  • Overall inventory increased 33 percent to 5,651 homes in March 2016 from 4,253 homes in March 2015.
  • Inventory for condominiums in the $1 million to $2 million price category increased 61 percent to 208 condominiums in March 2016 from 129 condominiums in March 2015.

While commercial activity is not reflected in the statistics, Bill Poteet indicated that cash sales are up in the commercial real estate market despite a lack of inventory. He believes that demand will continue to grow for commercial real estate properties in the Naples area, and the growth trend will continue as long as our economy is good.

“Our market is performing very well in the face of many stateside and worldwide factors,” said John Steinwand referring to matters such as the low Canadian exchange rate, impending presidential election, and the United Kingdom’s stance on its continued EU participation. “While some homebuyers may sit back until outcomes are in sight, others, particularly in the $500,000 to $1 million price range, are finding the increase in inventory to their advantage.”

Mike Hughes, summarized the first quarter report by saying, ” Naples Real Estate Market 2016 Inventory is at the best level we have seen in the past three years, and days on the market are decreasing. Properties at preferred locations are selling quickly. With the increase in inventory, the buyer has more properties to choose from this year. I also think that the sellers might be more flexible this year with their price. It is definitely a good year to be a buyer.”

 

For more information on Naples Real Estate for Sale or Naples Real Estate Market 2016 , please contact

Kirsten Prizzi,

Naples Waterfront Homes – Immobilien Naples

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Author Kirsten Prizzi

My name is Kirsten S. Prizzi, Naples Real Estate Agent / Broker Associate with more than 25 years of experience in international Real Estate, residing in the beautiful Naples area since 1998 and serving Naples, Marco Island, Bonita Springs, Bonita Beach, Estero, Sanibel, Fort Myers, Fort Myers Beach and Cape Coral.

As a licensed Naples real estate agent I have the skills and experience necessary to ensure the successful sale of your home. I have unrivaled familiarity with the current and recent inventories of available homes, area trends in valuation and time on market key information for both buyers and sellers in the Southwest Florida Real Estate Market from Naples, Florida to Cape Coral.



As a Naples real estate agent I concentrate on providing my clients great service, accurate information, and solid guidance.


While it's true I am available seven days a week, and I often work with clients until late in the evening, maintaining a high quality of service is always important to me.

If you would like to receive regular updates via email when new homes come onto the market in Southwest Florida or if you'd like to discuss about working with me or to list or sell your home, please call me at 239-248-1667 or email me at Kirsten@RealEstateFloridaUSA.com

I support successful connections between buyers and sellers of waterfront homes & condos and off water properties throughout SW Florida.



My mission is to provide each of my clients with extraordinary quality of service in the buying and selling of Naples area real estate and rentals to always act with honesty, integrity and truth along with a smile.


You can be ensured you will experience discreet, conscientious attention as you search for the perfect waterfront home, villa, condo, townhouse, single family house, cottage, beachfront estate or mansion in the greater Naples area, or in pursuit of selling your home.

I grew up at Northern Germany's beautiful beaches. After attending the Academy of Economics I received a degree in Real Estate Economy and Management. I started my real estate career in Hamburg Germany in my mid 20's managing and leasing a privately held portfolio of high end residential income properties in noble neighborhoods, and soon thereafter I graduated from luxury residential to luxury commercial retail leasing in Downtown Hamburg working for Healey & Baker, a British real estate consulting firm.
1992 I moved from Hamburg to the new Capitol Berlin working high end commercial real estate, leasing luxury retail & office space at the Quartier 206 at the FriedrichstadtPassagen and the Checkpoint Charlie for German and American Developers & Investors such as the IVG, the Jagdfeld Family / Quartier 206 & Fundus Group, Abraham Rosenthal & Ronald Lauder (Checkpoint Charlie Re-development) until I moved to Naples, Florida in December of 1998 where I earned my Florida sales person lic at the Ed Klopfer School of Real Estate in 1999 and in 2006 my Florida real estate brokers' license.



I feel a great sense of satisfaction when I get to help others realize their real estate goals as a Florida - Naples waterfront real estate agent.


As a true problem solver by nature, I enjoy the challenges of real estate and in most circumstances maintain a high level of equanimity that my peers have come to respect.

In addition to excelling my profession, I enjoy watersports of all kinds and have a passion for the outdoors that makes me appreciate the natural beauty of SW Florida. I absolutely love Florida's beaches. Growing up on the North Sea, surfing, water skiing and swimming was limited just to the summer time. It will be my pleasure to show you around my backyard "SW Florida's Beaches" all year round.

If you're a German speaking customer, please feel free to connect with me through my German website www.Immobilienmakler-in-Florida.com or www.LuxusimmobilienFlorida.de

If you expect the best service and professionalism from your real estate agent, then please give me a call at 239-248-1667 or visit my bilingual websites:

www.RealEstateFloridaUSA.com
www.LuxuryWaterFrontHomesswflorida.com
www.Immobilienmakler-in-Florida.com
www.LuxusimmobilienFlorida.de

Naples | Marco Island | Bonita Springs | Bonita Beach | Estero | Sanibel Island | Fort Myers | Fort Myers Beach & Cape Coral | Florida | USA

I am looking forward to work with you.

Sincerely Yours
Kirsten S. Prizzi
FL Lic Real Estate Broker Associate
Phone: 239.248.1667
Email: Kirsten@RealEstateFloridaUSA.com
Location is just the beginning