NOVEMBER NAPLES AREA STATS

Buyers Rush Luxury Market in November Contacts: Pat Pitocchi, NABOR® Media Relations Committee Chairman, (239) 398-8650,         Marcia Albert, NABOR® Director of Marketing, (239) 597-1666 Naples, Fla. (December 19, 2014) - Sellers in the luxury market can expect a very good buyer turnout in the coming months according to a consensus among Naples' top brokers after they analyzed the November 2014 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). Their prediction was based on several factors including overall pending sales activity, which rose 11 percent for homes priced over $1 million; overall closed sales activity, which increased 17 percent for homes priced over $1 million; and that the majority of homes sold in the $2 million and above category were cash sales. "Pending and closed sales activity in all price categories above $300,000 was up over the past 12-month period ending in November," said Tom Bringardner, Jr., President/CEO of Premier Commercial. "Activity in the high end market is remarkable coming into season," said Steve Barker, Advising Broker for Equity Realty. "The report indicated that a greater number of homes in the $2 million and above price category were sold [21] as compared to what sold in the same month last year [14]. This is a good sign for sellers in our market because people who have the resources to pay cash for million dollar homes are smart and careful investors. They are not going to make a poor investment decision, which speaks volumes for the value of our market." The November 2014 report showed heightened activity in several areas of the luxury market including a 40 percent increase in overall closed sales for single family homes priced $2 million and above from 202 in the 12-months ending November 2013 to 282 in the 12-months ending November 2014; an 11 percent increase in closed sales for condominiums priced $1 million - $2 million from 234 in the 12-months ending November 2013 to 260 in the 12-months ending November 2014; and a 35 percent increase in single family median home prices in the Naples Beach area from $739,000 in the 12-months ending November 2013 to $1,000,000 in the 12-months ending November 2014. "Median price in the Naples Beach area single family home market can not continue to increase at the current rate indefinitely," said Cindy Carroll, SRA, with the real estate appraisal and consultancy firm of Carroll & Carroll, Inc., who added that, despite aggressive activity in new construction, the report indicated that inventory in the resale market continued to decline. The NABOR® November 2014 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® November 2014 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:  Overall pending sales decreased 2 percent from 840 in November 2013 to 825 in November 2014. Pending sales for single family homes in the $300,000-$500,000 price category increased 32 percent from 99 in November 2013 to 131 in November 2014. Pending sales for single family homes in the $2 million and above category increased 24 percent from 25 in November 2013 to 31 in November 2014. Overall closed sales decreased 2 percent from 9,878 in the 12-months ending November 2013 to 9,635 in the 12-months ending November 2014. Median closed price increased 12 percent from $236,000 in the 12-months ending November 2013 to $265,000 in the 12-months ending November 2014. Median closed price for single family homes in the $2 million and above price category increased 50 percent month over month from $2,600,000 in November 2013 to $3,900,000 in November 2014. Overall inventory decreased 10 percent from 4,584 homes in November 2013 compared to 4,136 homes in November 2014. Average days on market for November is at 79.  According to Brenda Fioretti, Managing Broker at Berkshire Hathaway HomeServices Florida Realty, the market's median closed price has gone up 62 percent in the last four years from when it was $169,000 in November 2010 to $272,000 in November 2014. And inventory is down 63 percent from one of its highest points of 11,116 in November 2008 to 4,136 homes in November 2014. "Traditionally, the soft part of the year for real estate is September, October and parts of November," said NABOR President Mike Hughes, Vice President and General Manager of Downing-Frye Realty. "But this year, the soft wasn't soft; it was strong." Despite a double-digit drop in overall inventory, the Naples area real estate market continued to see positive growth in various price points, categories, home styles and neighborhoods for both pending and closed sales activity in November. With luxury homes at a premium, homeowners that decide to sell in Naples now may begin to encounter more cash offers. Navigating the complexity of these real estate transactions can be made easier with guidance from a Naples REALTOR®. The Naples Area Board of REALTORS® (NABOR®) is an established organization (Chartered in 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 members. NABOR® is a member of the Florida Realtors and the National Association of REALTORS®, which is the largest association in the United States with more than 1.3 million members and over 1,400 local board 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.    The term REALTOR® is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribe to its strict Code of Ethics. View November 2014 Market Statistics    To view the entire report, visit www.NaplesArea.com

EXPLORE OUR WEBSITES www.NABOR.com

Naples Real Estates November

Condominiums an Affordable Option in Naples Market Contacts: Pat Pitocchi, NABOR President & Media Relations Committee Chairman, (239) 398-8650,         Marcia Albert, NABOR Director of Marketing, (239) 597-1666 Naples, Fla. (November 21, 2014) - As buyers seek an opportunity to own a home in Naples, condominiums continue to be an affordable option. Condominium median closed prices increased only 9 percent from $198,000 to $215,000, which is below the overall median closed price of $265,000 in the 12-months ending October 2014. In comparison, single family homes experienced a 21 percent increase in the median closed price from $280,000 to $340,000 in the same time period according to an October 2014 report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). Most of the sales activity in the Naples condominium market is in the $0-$300,000 category with 3,483 closed sales recorded in the 12-months ending October 2014. Compared to the sales activity for the single family home market, which had 1,986 closed sales recorded in the same $0-$300,000 category in the 12-months ending October 2014, condominium sales in Naples are stronger. "In October 2013 the difference between the median closed price of condos and single family homes was $82,000 compared to October 2014 when the difference was $125,000," said Phil Wood, President & CEO of John R. Wood Properties. Mr. Wood's comparison shows median closed prices for condominiums did not increase as fast as median closed prices for single family homes. Yet inventory for both types of homes in the $0-$300,000 category continued to deplete in October 2014 with a 22 percent decrease in single family homes and 27 percent decrease in condominiums compared to October 2013. The report also indicated cash sales remained strong with cash sales growing to 67 percent of overall home sale transactions in October, as noted by Kathy Zorn, Broker/Owner, Florida Home Realty, who believes is due, in part, to the tightening of mortgage requirements. "Nationally, the cash sales rate is at about 33 percent", she said, "Cash offers in our area put buyers in a stronger position than buyers using conventional financing." As for the short sale or foreclosure market, the October report showed only 18 short sale transactions and 73 foreclosed property sales taking place in October 2014. "Traditional sales accounted for 87 percent of all reported transactions in October 2014, which is an indicator of a strong housing market in the Naples area," said Carmen Isbely Vasquez, Owner/Broker of US Prime Realty. The NABOR® October 2014 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® October 2014 sales statistics are presented in chart format, including these overall (single-family and condominium) findings: Overall median closed price increased 13 percent from $235,000 in the 12-months ending October 2013 to $265,000 in the 12-months ending October 2014. Overall pending sales increased 9 percent from 839 in October 2013 compared to 911 in October 2014. Pending sales for condominiums in the $1 million-$2 million category increased 211 percent from 9 in October 2013 compared to 28 in October 2014. Overall closed sales decreased 2 percent from 9,912 in the 12-months ending 2013 to 9,667 in the 12-months ending 2014. Closed sales for single family homes in the $2 million and above category increased 31 percent from 210 in the 12-months ending October 2013 to 275 in the 12-month ending 2014. Median closed price increased 13 percent from $235,000 in the 12-months ending October 2013 to $265,000 in the 12-months ending October 2014. Overall median closed price for homes in the $1 million-$2 million and $2 million and above categories both decreased 3 percent. Overall inventory decreased 10 percent from 4,376 homes in October 2013 compared to 3,939 homes in October 2014. Average days on market for October is at 73.  The October reports showed signs our winter residents and visitors returned early this year: Overall pending sales rose 10 percent from September 2014 (829) to October 2014 (911), and inventory also increased from 3,702 units available in September 2014 to 3,929 units available in October 2014. Pending sales are driving the market into what is anticipated to be a strong fourth quarter according to NABOR®. "We're seeing the demand for homes in the Naples beach area start to rise again too," said Steve Barker, Advising Broker for Equity Realty, who added that the report showed pending sales for both condominiums and single family homes rose over 40% in this geographic area for October 2014 compared to October 2013. Several broker analysts agreed with incoming NABOR® President Mike Hughes, Vice President and General Manager of Downing-Frye Realty, who remarked that Naples is now an exclusive luxury destination similar to Aspen and Hilton Head, and predicts the area is poised to see more price appreciation, especially in the luxury single family home market. With the majority of inventory in the $0-$300,000 category located in the condominium market, buyers looking to own a piece of paradise are encouraged to seek guidance from a local REALTOR®, who can help them navigate through the 1,800 available condominiums for sale-of which half are priced under $300,000-and find a perfect fit. The Naples Area Board of REALTORS® (NABOR®) is an established organization (Chartered in 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 members. NABOR® is a member of the Florida Realtors and the National Association of REALTORS®, which is the largest association in the United States with more than 1.3 million members and over 1,400 local board 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.    The term REALTOR® is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribe to its strict Code of Ethics. View October 2014 Market Statistics    To view the entire report, visit www.NaplesArea.com

EXPLORE OUR WEBSITES www.NABOR.com  www.NaplesArea.com  This email was sent to you by Naples Area Board of REALTORS®.

Ben Franklin

BENJAMIN FRANKLIN INSPIRES BUYERS TO SUCCEED

Written by PJ Wade on Monday, 24 November 2014 1:48 pm

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thank you PJ

Everyone is in a hurry these days and real estate buyers are no exception. In their haste to get the deal done, they can undermine the success of their significant purchase and their long-term goals.

Benjamin Franklin's observation that "Haste makes waste" serves as an excellent summary for the tendency of many buyers to act too quickly and, therefore, not gain all the benefits available to them.

Haste to read listings and view properties can mean many buyers leap into the buying process before they are sure of what they want and need, and before they are aware of all their financial and real estate options;

Haste to squeeze a real estate purchase into already jam-packed schedules and smartphone-driven communication overload can add pressure that results in hastily-made, misguided and hard-to-live with decisions;

Haste to act in high-pressure and multiple-offer situations may lead buyers to jump at a property without a clear picture of what they are buying and what compromises they are making.

Slowing down the buying process once it gets started can be a challenge since real estate is all about acting on urgency. Once you view an acceptable property the question becomes, "Are you ready to make an offer or will you risk losing out?"

The key to success lies in developing "smarts" before you jump into the sales funnel and face the pressure of making an offer. Start by taking time to learn how to act in your own best interest beforeyou dig through listings, view properties, and make a choice then you'll benefit on many levels.

National Housing Outlook

NEW RESIDENTIAL CONSTRUCTION IN OCTOBER 2014
The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for October 2014:
BUILDING PERMITS
Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,080,000.  This is 4.8 percent (±1.3%) above the revised September rate of 1,031,000 and is 1.2 percent (±1.2%) above the October 2013 estimate of 1,067,000.
Single-family authorizations in October were at a rate of 640,000; this is 1.4 percent (±1.2%) above the revised September figure of 631,000.  Authorizations of units in buildings with five units or more were at a rate of 406,000 in October.
HOUSING STARTS Privately-owned housing starts in October were at a seasonally adjusted annual rate of 1,009,000.  This is 2.8 percent (±10.0%)* below the revised September estimate of 1,038,000, but is 7.8 percent (±8.7%)* above the October 2013 rate of 936,000.
Single-family housing starts in October were at a rate of 696,000; this is 4.2 percent (±8.8%)* above the revised September figure of 668,000.  The October rate for units in buildings with five units or more was 300,000.
HOUSING COMPLETIONS Privately-owned housing completions in October were at a seasonally adjusted annual rate of 881,000.  This is 8.8 percent (±14.7%)* below the revised September estimate of 966,000, but is 8.1 percent (±13.0%)* above the October 2013 rate of 815,000.
Single-family housing completions in October were at a rate of 585,000; this is 7.4 percent (±9.5%)* below the revised September rate of 632,000.  The October rate for units in buildings with five units or more was 289,000.
New Residential Construction data for November 2014 will be released on Tuesday, December 16, 2014, at 8:30 A.M. ES

NEW RESIDENTIAL SALES IN SEPTEMBER 2014


Sales of new single-family houses in September 2014 were at a seasonally adjusted annual rate of 467,000, according toestimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 0.2 percent (±15.7%)* above the revised August rate of 466,000 and is 17.0 percent (±20.6%)* above the September 2013estimate of 399,000.
The median sales price of new houses sold in September 2014 was $259,000; the average sales price was $313,200. Theseasonally adjusted estimate of new houses for sale at the end of September was 207,000. This represents a supply of 5.3 months at the current sales rate.

Third Quarter Naples Area Results



Overall closed sales increased in two of the five price segments, $300,000 to $500,000 and $1 million to $2 million, as well.”
The NABOR® 3rd Quarter 2014 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® 3rd Quarter 2014 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:
• Pending sales of single family homes over $2 million increased 26 percent from 43 in 3rd quarter 2013 to 54 3rd quarter 2014.
• Pending sales of condominiums between $1 million and $2 million increased 29 percent from 38 in 3rd quarter 2013 to 49 in 3rd quarter 2014.
• Overall closed sales in the $300,000 to $500,000 category increased 13 percent from 398 in 3rd quarter 2013 to 451 in 3rd quarter 2014.
• Overall closed sales in the $1 million to $2 million category increased 14 percent from 91 in 3rd quarter 2013 to 104 in 3rd quarter 2014.
• Overall median closed price increased 13 percent from $234,000 in 3rd quarter 2013 to $265,000 in 3rd quarter 2014.
• Overall median home price of homes over $300,000 decreased 7 percent from $530,000 in 3rd quarter 2013 to $493,000 in 3rd quarter 2014.
• Overall inventory decreased 9 percent from 4,080 homes in 3rd quarter 2013 to 3,702 homes in the 3rd quarter of 2014.
• Overall inventory of single family homes in the $300,000 to $500,000 market increased 15 percent from 422 in 3rd quarter 2013 to 487 in 3rd quarter 2014.
According to Kathy Zorn, broker/owner at Florida Home Realty, “Homes priced under $300,000 may make up over 60 percent of our market but this is not our entire market. In fact, the 3rd quarter report showed an increase in inventory of single family homes in the combined price categories above $300,000, which accounts for 1,564 homes or 42% of the overall 3rd quarter inventory.
NABOR® also released its September 2014 Market Report, which revealed the following:
• Overall pending sales increased 2 percent from 810 in September 2013 to 829 pending in September 2014.
• Overall closed sales decreased 3 percent from 9,919-in the 12-months ending September 2013 to 9,585 closed sales in the 12-months ending September2014.
• Overall median closed price increased 14 percent from $230,000 in the 12-months ending September2013 to $262,000 in the 12-months ending September2014.
• Overall inventory decreased 9 percent from 4,080 in September 2013 to 3,702 in September 2014.
Broker analysts agree that new construction within the last year is a welcome addition to the Collier County housing market.
With guidance from a local REALTOR®, buyers can discover opportunities and ensure their sale or purchase is a success within both the new home and resale markets.
The Naples Area Board of REALTORS® (NABOR®) is an established organization (Chartered in 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 members. NABOR® is a member of the Florida Realtors and the National Association of REALTORS®, which is the largest association in the United States with more than 1.3 million members and over 1,400 local board 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.
The term REALTOR® is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribe to its strict Code of Ethics

Sales down, inventory held steady in typical September slow month.

September sales were 14 residences and the inventory as of September 30 was 87 listing.  The average days on the market (DOM) for the sales was 91 days, average sale to listing price was 93.35% with the highest at 100% and lowest at 82.56%.   Average sales price was $1,663,571 and the median was $1,118,750, we had 9 of 14 sales over one million and one at 6 million which skewed these results.  The next blog will have rolling 3 month and third quarter results, which should give us more realistic view of  Pelican Bay. 

Low Inventory Impacts Market Contacts: Pat Pitocchi, NABOR President & Media Relations Committee Chairman, (239) 398-8650,         Marcia Albert, NABOR Director of Marketing, (239) 597-1666 Naples, Fla. (September 19, 2014) - "We can't sell what's not there," was a phrase repeated among several brokers as they analyzed a recent report tracking August home sales activity released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). Overall inventory dropped 20 percent in the $300,000 and below price category in August 2014 compared to August 2013. The median price in this price category rose 13 percent as a result. The pending and closed sales dropped double digits in the same price segment August 2014 compared to August 2013, factors that illustrate the economic law of supply and demand. Low inventory was also a strong factor in the decrease of pending and closed sales activity in the Naples Beach area condominium market. This much-sought after location experienced a 28 percent decrease in available inventory from 571 condominiums to 409 condominiums in August 2014 compared to August 2013. The low inventory contributed to the 31 percent decrease in pending sales and 23 percent decrease in closed sales of condominiums in this area. And, the median closed price in this area increased 7 percent from $495,000 in the 12-months ending August 2013 to $530,000 in the 12-month ending August 2014. "I thought we had seen the top of this economic cycle a year ago," said Cindy Carroll, SRA, with the real estate appraisal and consultancy firm Carroll & Carroll, Inc., referring to unpredictable activity in certain areas within Collier County. "Our local market is extremely diverse. For example, in Pelican Bay there is a three month inventory of single family homes for sale, but if you are looking to buy a Crayton Road area condo in the $2 to $3 million price range, you'd better be ready with a checkbook because there are only two listings." Brenda Fioretti, Managing Broker at Berkshire Hathaway HomeServices Florida Realty, pointed out that the report also showed financed sales had increased 30 percent since NABOR® starting tracking overall cash versus conventional (financed) sales in January 2013. "We are starting to see an increase in the number of homes being financed by qualified buyers." The NABOR® August 2014 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® August 2014 sales statistics are presented in chart format, including these overall (single-family and condominium) findings: Overall pending sales decreased 11 percent from 890 homes in August 2013 to 795 homes in August 2014. Overall closed sales decreased 2 percent from 9,798 homes in the 12-months ending August 2013 to 9,613 homes in the 12-months ending August 2014. The overall median closed price increased 14 percent from $228,000 in 12-months ending August 2013 to $260,000 in the 12-months ending August 2014. Overall inventory decreased 8 percent from 3,875 in August 2013 to 3,579 in August 2014. Average days on market were 83 for August 2014. Inventory for single family homes increased 1 percent from 1,894 homes in August 2013 to 1,904 homes in August 2014. The largest increase was in the $300,000 - $500,000 price category, which saw a 12 percent increase. Closed sales for condominiums decreased 1 percent from 5,137 condominiums in August 2013 to 5,066 condominiums in August 2014. Several brokers agreed with Phil Wood, President & CEO of John R. Wood Realtors, who said, "We'll have to see if the low inventory will continue to be a trend in the coming months." The August report reflects inconsistent activity across all geographic areas making it difficult to predict whether the low inventory will continue to affect pending and closed sales moving forward. Additionally, another factor not tracked in the report but one that impacts pending homes sales is new construction, which continues to swell in the area. However, the rising inventory of newly constructed homes will not help those buyers looking for homes in the under $300,000 price category because there are few available. "This is a very diverse market with a diminishing inventory in the reasonably priced housing sector," said NABOR® President and Corporate Trainer at Downing-Frye Realty Pat Pitocchi. "The increase in median closed price continues to be driven by the under $300,000 market, which comprises nearly 65 percent of existing home inventory. In August, the under $300,000 price segment's overall median closed price increased 13 percent, while all other price categories moved slightly up or down. It's the only area of the market whose median closed price behavior is predictable."

Naples:

A study by Forbes Magazine using data from Moody's Analytics ranked the Naples area No. 1 out of 200 of the largest metros, with an expected job growth rate of 4.1% annually through 2016.

Pelican Bay:

As of 9/15 Pelican Bay had 86 listing for sale an inventory of 1.38% of total residences.  Pending Sales of 32 represented a still low 2.68 month ratio to listings. 

Kayaks and canoes, tennis and golf, these are some of the amenities that my fellow denizens at Pelican Bay know so well.  We know that Pelican Bay is a unique community however NABOR, (Naples Board of Realtors) lumps us in with other zip codes, this blog is created to inform current residents and prospective buyers with current and trending statistics in Pelican Bay.

Pelican Bay:

August statistics are in, we had a total of 23 sales in Pelican Bay with an average sales price of $762,903 down from 28 sales in July with an average price of $1,227,919. The median price in August was $562,000 and that was down from $982,500. August was skewed upward due to 6 homes sold for over 2 million and one at over 5 million.  The average days on the market (DOM) was 127 days in August versus a similar 121 days in July. The average sale to Listing Price was 95.51% , we had 2 sales that were at the Listing Price and one over 100%, lowest  was at 86%. 

Nationwide News:

NEW RESIDENTIAL SALES IN JULY 2014
Sales of new single-family houses in July 2014 were at a seasonally adjusted annual rate of 412,000, according to estimates 
released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 2.4 
percent (±11.9%)* below the revised June rate of 422,000, but is 12.3 percent (±17.1%)* above the July 2013 estimate of 
367,000.
The median sales price of new houses sold in July 2014 was $269,800; the average sales price was $339,100. The seasonally 
adjusted estimate of new houses for sale at the end of July was 205,000. This represents a supply of 6.0 months at the current 
sales rate.

New Residential Sales data for August 2014 will be released on Wednesday, September 24, 2014

Naples News A service from the Naples Area Board of REALTORS®

No Summer Vacation for REALTORS® Median Closed Price Increases $35,000 Contacts: Pat Pitocchi, NABOR President & Media Relations Committee Chairman, (239) 261-2214,         Marcia Albert, NABOR Director of Marketing, (239) 597-1666    Naples, Fla. (August 22, 2014) - "Stable" continues to be the adjective real estate experts use to describe the Naples area housing market after analyzing a recent report tracking July activity released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). Overall pending and closed sales for July increased in all price categories except the $300,000 and under market. The overall median closed price in July increased 16 percent from $225,000 to $260,000; with a 12 percent increase in the $300,000 and under market, from $155,000 to $174,000,driving the overall price increase.  "Due to demand in the under $300,000 market, which resulted in a 25 percent decrease in that segment's inventory, the market's total inventory in July fell 13 percent," said Phil Wood, President & CEO of John R. Wood Realtors. "However, it's important to note that 15 percent of the total inventory available included 539 newly constructed homes. Our report tracks some new construction activity, typically 'spec' homes, however, it does not include new home inventory being added from the 30 new communities currently under development in the area." "The report shows us clear inventory decline in the $300,000 and below market," said Wes Kunkle, a commercial broker at Kunkle Realty. "The fact is: we're running out of homes to sell in this price category." Kunkle continued, the trend can be seen in the statistics, as pending sales for homes under $300,000 decreased at almost the same rate as its inventory. The report also shows new summer trends by neighborhood. In July 2014, the only increase in pending sales of single family homes was in the Naples Beach and South Naples areas. Interestingly, the only area to experience a positive increase in inventory was East Naples. "Appreciation is one key factor driving prices in the lower end of the market," said Dr. Shelton Weeks, Department Chair of Economics & Finance, Lucas Professor of Real Estate and director of the Lucas Institute for Real Estate Development & Finance at Florida Gulf Coast University. "These homes are in demand and quick to sell." Brenda Fioretti, Managing Broker at Berkshire Hathaway HomeServices Florida Realty, noticed another interesting trend in the July report, "Overall pending sales in the $2 million and above price segment increased 47 percent from 19 homes pending in July 2013 to 28 homes pending in July 2014. For single family homes in this segment and timeframe, pending sales increased 100 percent from 11 to 22; yet pending sales for condominiums in this price segment decreased 25 percent from 8 to 6." The NABOR® July 2014 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® July 2014 sales statistics are presented in chart format, including these overall (single-family and condominium) findings: Overall pending sales decreased 13 percent from 975 homes in July 2013 to 845 homes in July 2014. Overall closed sales had no change from 12-months ending July 2013 to 12-months ending July 2014. The overall median closed price increased 16 percent from $225,000 in 12-months ending July 2013 to $260,000 in the 12-months ending July 2014. Overall inventory decreased 13 percent from 4,086 in July 2013 to 3,562 in July 2014. Average days on market were 77 for July 2014. Pending sales for single family homes decreased 10 percent from 505 in July 2013 to 453 in July 2014. In the $2 million and above category, pending sales increased 100 percent from 11 in July 2013 to 22 in July 2014. Closed sales for single family homes decreased 1 percent for 12-months ending July 2014. However, closed sales increased in all price categories except the under $300,000, which saw a 20 percent decrease. The median closed price for single family homes increased 25 percent for the 12-months ending July 2014. However, all price categories above $500,000 saw a decrease in median closed price. Inventory for single family homes increased 1 percent. The largest increase was in the $300,000 - $500,000 price category, which saw a 14 percent increase. Average days on market for a home in the $300,000 and under category was 50 days in July 2014. Pending sales for condominiums decreased 17 percent for 12-months ending July 2014. Closed sales for condominiums increased 1 percent for the 12-months ending July 2014. Activity in this area was most impressive in the $1-$2 million price category which had a 25 percent increase, and in the $2 million and above price category which had a 35 percent increase. The median closed price for condominiums increased 12 percent for the 12-months ending July 2014. Inventory for condominiums decreased 19 percent with all price categories experiencing a drop. Average days on market for a condominium in the $300,000 and under category was 56 days in July 2014. Average days on market for a condominium in the $2 million and above category was 95 days in July 2014.  "Traditional sales dominate the market. In July 2014, they increased 35% from 345 in July 2009 to 603 in July 2014," said Carmen Vasquez, owner/broker of US Prime Realty. "There were 330 non-traditional [short sale or foreclosed] home sales in July 2009. In July 2014 there were only 102, a significant reduction." There were also more closed sales recorded in the first seven months of 2014 (5,952) than there are available in our current inventory (3,563), which NABOR® experts believe is an encouraging message to consumers looking to sell or buy. The Naples Area Board of REALTORS® (NABOR®) is an established organization (Chartered in 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 4,700 plus members. NABOR® is a member of the Florida Realtors and the National Association of REALTORS®, which is the largest association in the United States with more than 1.3 million members and over 1,400 local board 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.    The term REALTOR® is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribe to its strict Code of Ethics. View July 2014 Market Statistics    To view the entire report, visit www.NaplesArea.com

EXPLORE OUR WEBSITES www.NABOR.com  www.NaplesArea.com

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(Reuters) - U.S. home resales rose to a 10-month high in July and the number of Americans filing new claims for unemployment benefits fell last week, signaling strength in the economy early in the third quarter.

The growth outlook was further buoyed by other reports on Thursday showing factory activity in the mid-Atlantic region hit its highest level since March 2011 in August while a gauge of future economic activity increased solidly last month.

The National Association of Realtors said existing home sales increased 2.4 percent to an annual rate of 5.15 million units. That was the highest reading since last September and confounded economists' expectations for a pullback.

Home resales have now increased for four straight months after the housing market recovery stalled in the second half of 2013 following a run-up in mortgage rates.

"It goes some way in allaying fears about a relapse in the housing sector recovery, which until recently appears to have stagnated," said Millan Mulraine, deputy chief economist at TD Securities in New York.

Kayaks and canoes, tennis and golf, these are some of the amenities that my fellow denizens at Pelican Bay know so well.  We know that Pelican Bay is a unique community however NABOR, (Naples Board of Realtors) lumps us in with other zip codes, this blog is created to inform current residents and prospective buyers with current and trending statistics

Florida: Total single family permits issued in Florida have risen four year in a row, but they're still well below their 20 year average-and their peak in 2005 before the housing bubble burst.  Year to date, Florida ranks second only to Texas for permits.

Pelican Bay:

Some fast statistics:  We have 38 pending contracts and 81 listings in inventory a low 2.13 month ratio.

Less than three months of inventory!

Kayaks and canoes, tennis and golf, these are some of the amenities that my fellow denizens at Pelican Bay know so well.  We know that Pelican Bay is a unique community however NABOR, (Naples Board of Realtors) lumps us in with other zip codes, this blog is created to inform current residents and prospective buyers with current and trending statistics.

Florida: According to Corelogics, results  are as follows for single family prices, excluding distressed, for the period ending May, 2014: 12 month change up 9.6%, 3 month change up 3.5%, 1 month up 1.02%, peak to current down  28.69%, peak date May, 2006. Nationwide peak to current was down 9.3%. 

Pelican Bay:

Some fast statistics:  

We had 28 sales in July, down from the 29 in June, not significant.

However the drop in inventory has resulted in a drop to 2.85 months of supply from the 3.1 months supply in June.  According to economist Peter Brookvar at the Lindsay Group, nationwide the supply of homes for sale represents 5.8 months of demand (sales).

Average sale price for July was $1,227,919, the average for the three months ending July was $1,242,571 and the median for July was $982,500 and the median for the last three months was $825,000. The average days on the market for July was 121 with a low of 3 days and a high of 431, three month average was 97 days.

Home ownership at 19 year low, 64%

Kayaks and canoes, tennis and golf, these are some of the amenities that my fellow denizens at Pelican Bay know so well.  We know that Pelican Bay is a unique community however NABOR, (Naples Board of Realtors) lumps us in with other zip codes, this blog is created to inform current residents and prospective buyers with current and trending statistics.

Florida: According to Corelogics, results  are as follows for single family prices, excluding distressed, for the period ending May, 2014: 12 month change up 9.6%, 3 month change up 3.5%, 1 month up 1.02%, peak to current down  28.69%, peak date May, 2006. Nationwide peak to current was down 9.3%. 

Pelican Bay:

Some fast statistics:  Condo buyers have few choices this summer, 29 condo developments in PB have no for sale listings, 20 have 1, 11 have 2,  4 have 3, 3 with 4,1 with 5 and 1 with 6.   Most of the listings are located in the high rises.  

Inventory still falling

Kayaks and canoes, tennis and golf, these are some of the amenities that my fellow denizens at Pelican Bay know so well.  We know that Pelican Bay is a unique community however NABOR, (Naples Board of Realtors) lumps us in with other zip codes, this blog is created to inform current residents and prospective buyers with current and trending statistics.

Pelican Bay:

Some fast statistics:  Inventory on the MLS continues to fall to 84 listings from 93 last reported, this fall is consistent for the summer season. There are 45 listed pending sales as of today's date in addition there has been 180 sales over the last 90 days. 

Low, low inventory, will this lead to higher prices?

Kayaks and canoes, tennis and golf, these are some of the amenities that my fellow denizens at Pelican Bay know so well.  We know that Pelican Bay is a unique community however NABOR, (Naples Board of Realtors) lumps us in with other zip codes, this blog is created to inform current residents and prospective buyers with current and trending statistics.

Pelican Bay:

Some fast statistics:  Based on June closings and the MLS inventory as of 7/23, we had a 3.1 months of supply of residences on the market, way below the Naples and National averages.   Total inventory of 93 residences represents approximately 1.5% of total residences in Pelican Bay.   Breaking down this inventory into categories we see a  1.4% figure for high-rises, 1.3% for 1-3 story residences,1.6% for mid-rises, 1.9% for villas and 1.6% for single family homes.  Obviously fairly consistent across the board.  However this is the slow season, I would expect to see inventory to rise as the snow birds return.

What's new in Pelican Bay,Naples

Kayaks and canoes, tennis and golf, these are some of the amenities that my follow denizens at Pelican Bay know so well.  We know that Pelican Bay is a unique community however NABOR, (Naples Board of Realtors) lumps us in with other zip codes, this blog is created to inform current residents and prospective buyers with current and trending statistics.

Pelican Bay:

There were 29 reported closings in June with an average price of $938,603 and a median price of $550,000.  The average days on the market (DOM) was 67. Closing price as a percent of Listing Price averaged 94.7 and we had on property that sold for the listing price, 100% and the low was 89%.