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.