Newsletter-August 2009
Naples Area News, Real Estate & Trends
FOR IMMEDIATE RELEASE
Contacts: Brett Brown, NABOR, President, 239/948-4292
Marcia Albert, NABOR, Manager of Events & Marketing, 239/216-4148
SUMMER BUYERS BUYING BARGAINS
Report Shows Strong Pending Sales
NAPLES, Fla.-August 14, 2009- Summer home sales are off to a great start, according to a report released by the Naples Area Board of REALTORS® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island).
Statistics compiled by NABOR show overall home sales have increased 67 percent and inventory has decreased 12 percent in July 2009 compared to July 2008, a positive sign that the "buy now" message is being heard.
"Every geographic area experienced an increase in both pending and closed sales, which is encouraging when looking at the bigger picture in Southwest Florida," acknowledged Tom Bringardner, President of Premier Properties.
Pending sales for properties under $300,000 saw a 165 percent increase, with 682 pending sales in July 2009 compared to 257 in July 2008.
"Overall, this is shaping up to be one of our best summers; interest is extending past the traditional buying season," stated Mike Hughes, Vice-President of Downing-Frye Realty.
Bill Coffey, Managing Broker of Coldwell Banker agrees, "The activity level is remaining steady as summer buyers are finding value in Naples."
The report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. The statistics are presented in chart format, along with the following analysis:
Overall, pending sales saw a 121 percent increase with 924 in July 2009 compared to 419 in July 2008.
Single-family pending sales increased 117 percent with 543 in July 2009 compared to 250 in July 2008.
Condo sales increased 61 percent with 283 in July 2009 compared to 176 in July 2008.
The average days on the market decreased 13 percent to 166 compared to 191 in July 2008.
Activity in condo sales increased in July 2009. "The condo market is improving. Overall condo pending sales increased 125 percent and the 2 million and over category increased 33 percent from July 2008 compared to July 2009," stated Jo Carter, President of Jo Carter & Associates.
To view the entire report, go to www.Naplesarea.com
The Naples Area Board of REALTORS® (NABOR) is an established organization (Chartered 1949) whose members have a positive and progressive impact on the Naples community. NABOR is a local board of REALTORS® and real estate professionals with a legacy of nearly 60 years serving 5,000 plus member-customers. NABOR is a member of the Florida Association of REALTORS® and the National Association of REALTORS®, which is the largest trade association in the United States with more than 1.3 million members and over 1,400 local boards of REALTORS® nationwide. NABOR is structured to provide programs and services to its membership through various committees and the NABOR Board of Directors, all of whose members are non-paid volunteers.
Going from local to statewide in real estate sales:
Florida's existing home sales rose in July - the 11th month in a row that sales activity increased in the year-to-year comparison.
Existing home sales rose 37 percent last month with a total of 15,882 homes sold statewide compared to 11,595 homes sold in July 2008, according to FAR.
Statewide existing home sales in July increased 0.2 percent over June's statewide activity. Florida Realtors also reported a 48 percent rise in statewide sales of existing condos in July.
Go Cubs! Go Cubs! For all you Cubs fans! Collier County's Tourist Development Council is looking into the possibility of luring the Chicago Cubs to Naples for their spring training! A special committee would be formed to look at the potential for attracting the team to Naples and how it would be done. More news to follow.
New Retailers:
Pandora, a fashion jewelry and accessory store has opened at the Mercato. Create your own custom necklace or bracelet with interchangeable charms. Information 239-431-5520.
NEW RESTAURANTS:
•· Blue Martini at the Mercato has opened. The Mercato is at the corner of U.S. 41 North & Vanderbilt Beach Blvd. They specialize in martinis and also have wines, champagnes, small plates and signature dishes. Information call 239-591-BLUE
•· Casa Mia Italian Steakhouse opened Lakeside Inn on Marco Lake, at 155 First Avenue, Marco Island. The owners are Italian and their signature dish is five-plate pasta, a combination of five different pastas and sauces with sausage and meatballs.
Update on Listings, Pending Contracts, and Closed Sales for July, 2009 vs. 2008:
Bonita Springs & Estero Areas:
Year |
2008 |
2009 |
Difference |
Listings |
3,368 |
2,437 |
-937 |
Pending Contracts |
85 |
142 |
+57 |
Closed Sales |
133 |
162 |
+29 |
Naples Area:
Year |
2008 |
2009 |
Difference |
Listings |
10,817 |
8,141 |
-2,676 |
Pending Contracts |
155 |
564 |
+409 |
Closed Sales |
269 |
655 |
+386 |
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