I was speaking with Kristal Kraft earlier this evening about Absorption Rate and discount brokerage -- but that is another BLOG.  Earlier this month she wrote a great BLOG How to calculate Absorption Rate.  Most of the Naples/Marco Island Market looks not so great - especially when you see 280 weeks to absorb the current inventory.  But dig down and there are some areas that are doing better than others.

Lets take for example Naples overall -- the absorption Rate is 160 weeks.  Ouch!  But now let's look at another smaller subset of the Naples Market - Golden Gate City 65.31 weeks, better but that is still a year!  Golden Gate City stats look like this:

  • There are 173 active listings in this area ranging from $215,000 to $499,900. 
  • In the past month there were 14 closed sales ranging closed from $257,294 to $362,000. 
  • There are 38 Pending listings in Golden Gate City
  • Since January 1 there have been 170 closed sales ranging from 215-499,99 in all of Golden Gate City. 

Drill further down and look at a specific section Golden Gate Unit 6 the absorption rate is 28.17 weeks.   This is good news for my new listing in this area of Golden Gate City! 

  • There are 12 Active Listings ranging $244,900 to $395,000
  • There is 1 Pending with a list price of $325,000
  • Since January 1 there have been 22 closed sales ranging from $257,294 to $389,900
  • Check out my listing in this unit at my website - 5470 27th Ave SW

With the weather getting colder up North, the snow birds are on their way and we are looking forward to a terrific season!  Remember to check out my BLOG about Collier County Projected growth (Golden Gate City is centered in that projected growth!)and remember prices will not remain this low for long!  Now is the time to purchase your piece of paradise!  Need a reason to convince your mate to move?  Check out my Reasons to Move to Florida BLOG!

If you are interested in more information on this community or any other Southwest Florida community, please email me at colleen@paradisereport.com or call me at (239) 821-3063.  To see additional Statistical Information please visit my website at http://www.paradisereport.com/ and click on Activity Reports on the left side.

 

All statistical information is gathered from the Sunshine MLS LLC.

 

5 Comments on Golden Gate City Market Update - November 2006

NOV
26
2006
623,713 Points 121 Featured Posts Outside Blog

Hi Colleen, it's good to see you figuring absorption rates for smaller areas.  If you continue to do this on a monthly basis you will see seasonal trends.  We all know when the season effects us, but when you can track it on paper...that's more impressive.

Thanks for the blogback!

kk
10:57pm • #1
NOV
27
2006
362,524 Points 95 Featured Posts Outside Blog
Kristal thanks for the pointers!   There is definately a trend happening here....
11:06am • #2
Colleen what a great new listing -- so why are you in our neck of the woods?   Golden Gate City is not on Marco Island....  Ouch, you have been after us to market to this area for the better part of a year -- guess we should have listened!
11:57am • #3
Thanks for the ideas Colleen.  I've usually only done absorption down to the county level.  Individual markets shows a more clear picture.
12:54pm • #4
362,524 Points 95 Featured Posts Outside Blog

Faye & Bernie -- my friend's listing and now I haven't been marketing in your neck of the woods, although with the absorption rate the way it is -- this is the community to be marketing to. 

Keith,-- glad that I can help...   It is really interesting what is performing better than another area....

1:04pm • #5

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Colleen Kulikowski

Amherst, NY

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Address: 501 John James Audubon Parkway, Amherst, NY, 14228

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