Naples Area Real Estate, News & Trends

Naples Area News, Real Estate & Trends

Newsletter-April 2011

FOR IMMEDIATE RELEASE

Contacts: Brenda Fioretti, NABOR President, (239) 595-6219

Marcia Albert, NABOR Director of Marketing, (239) 216-4148

INVENTORY DECLINES EIGHT PERCENT

Report Shows Median Closed Price for Properties over $300,000 Increases

NAPLES, Fla.-April 15, 2011- Inventory continues on a downward trend 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).

The available inventory declined to 8,762 available properties in the first quarter of 2011 down from 9,557 in the first quarter of 2010.

“The decline in inventory is a result of the slowing pace of properties coming to the market and the current inventory selling more rapidly,” stated Phil Wood, President of John R. Wood REALTORS®.

“Over the past three years, the months of inventory in the Naples area has continued to decline. In March of 2008 we had just under 38 months of inventory on the market for sale, and today we are hovering in a much healthier range of 12 months of inventory,” said Tom Bringardner, President/CEO of Premier Commercial, Inc.

The median closed price for properties over $300,000 increased to $575,000 in the first quarter of 2010 up from $525,000 in the first quarter of 2010.

“For properties over $300,000, the median closed price jumped 10 percent from quarter to quarter and 5 percent for the 12 months ending March 2011. Pending sale statistics suggest the median closed price will continue to climb,” said John Steinwand, President of Naples Realty Services.

The first quarter 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 an 8 percent increase, with 3,630 contracts in the first quarter of 2011 compared to 3,346 contracts in the first quarter of 2010.

 Single-family pending sales increased 6 percent with 1,763 contracts in the first quarter of 2011 compared to 1,667 contracts in the first quarter of 2010.

 Condo sales increased 7 percent with 1,114 sales in the first quarter of 2011 compared to 1,042 sales in the first quarter of 2010.

According to Mike Hughes, Vice-President of Downing-Frye Realty, “We may be seeing a glimpse of the kind of year 2011 will be. The statistics are encouraging and the sales activity continues to remain high.”

The March 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 home sales increased 5 percent to 936 sales in March 2011 compared to 890 sales in March 2010.

 Overall single-family pending sales saw a 6 percent increase, with 732 in March 2011 compared to 689 in March 2010.

 Condo sales saw a 17 percent increase with 525 sales in March 2011 compared to 447 sales in March 2010.

To view the entire report, visit www.NaplesArea.com

Collier County Florida retained its healthiest county ranking for second year in a row.

This number 1 ranking is attributed to the county’s lifestyle and improved access to medical care, according to an analysis by a leading private philanthropic organization. Lee County experienced a two-place drop to 23 among the state’s 67 counties.

Collier County Tourism up 4.3% in February over same month last year. The county saw nearly 162,000 visitors last month. Hotel occupancy rose 2.7%, while the average daily rate grew by 1.4% according to a monthly report by Research Data Services, Inc.

Nearly 51,000 visitors came from the Northeastern state, up more than 11 % from a year ago. Meanwhile, visitation from the Southeast increased 20.8% to 10,685. The county also saw more visitors from the Midwest, nearly 33,000, up 0.4% from a year ago. Visitation from Canada fell 26.1%, and it was down 14% from Europe.

JetBlue Airlines buys naming right to Red Sox’s spring home. JetBlue airlines, is the official airlines of the Boston Red Sox. The new spring training facility will be called, “JetBlue Park.”

Aalborg, Denmark, Nonstop service to SW Florida International airport begins 6/21st for five weeks. Flights every Tuesday operated by Comfly.

RSW MARCH PASSENGER TRAFFIC

The March passenger count at Southwest Florida International Airport (RSW) (www.flylcpa.com) was 1,073,556, an increase of 7.7 percent compared with March 2010. This is the second-largest monthly passenger count in the airport’s history and the fourth time the airport has exceeded one million passengers in a month.

Island Walk Takes Top Home Honors. Island Walk community in North Naples received top honors in the 2011 Florida Communities of Excellence. It has 1,856 residences on 705 acres. It was a three category finalist, “Family Friendly Programs & Initiatives.”

New Retail

4 New Retail Stores Open in Gulf Coast Town Center Mall

· Forema Boutique-offers unique clothing, Big Budda handbags and accessories and is located by Zumierz.

· Mini’s Puppies Boutique & Grooming-offers select breeds including mini English bulldogs and teacup Chihuahuas. Located by Hallmark

· All That Glitz-sells fashion jewelry at up to 80 percent below retail prices. Accessories include fashion sunglasses, belts, scarves, handbags and wallets. Located next to Belks Department Store

· V Boutique- sells junior, missy & women’s special occasion and ready-to-wear fashions as well as makeup, hair services, handbags, accessories and gift items. . Located between St. Johns Outlet and Kilwin’s Chocolates.

New Restaurants

Yogen Früz-operates 1,200 stores in 25 countries. It sells frozen yogurt and smoothies. It is located next to Moe’s Southwest Grill

Update on Listings, Pending Contracts, and Closed Sales for March, 2011 vs. March 2010:

Bonita Springs & Estero Areas:

Year	2010	2011	Difference
Listings	2,336	2,047	-289
Pending Contracts	274	316	+42
Closed Sales	226	283	+57

Naples Area:

Year	2010	2011	Difference
Listings	7,961	7,156	-805
Pending Contracts	991	1,022	+31
Closed Sales	858	950	+92

Average Days On Market:

First Quarter 2010=172

First Quarter 2011=168

Source: Naples Area Board of Realtors Multiple Listing Service