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Kevin J. May Naples, FL Southwest Florida Real Estate

Let's Go to the Beach, It's the Place to Be and Be Seen

Most of the homes indicated in this report are going to have the following similar plaques attached somewhere within each that will look something like this:

To The Beach or To The Beach

depending which wall they're on!

Chart Showing the Inventory avaiable generally West of Route 41 and about a mile from the beach + or - in Naples, Florida

The neighborhoods above are the ones which command the highest price due to proximity to the beach and or boating interest throughout the County. As shown they are represented in their North to South order. There is a mixture of Condominiums and Single Family homes which offer sandy beaches just outside your door. For the Beach, expect prices to begin at $425,000 for a 2/2 Condo and at the current time up to $19,800,000 for a slice of your own access with a home too!

Pending Sales

PENDING or Under Contract

Statistics Chart

From the low of 257 units in December of '07 to the height shown of 1,258 in March of 2011 our peaks and valleys remain generally consistent in their timing no matter what circumstance surrounds the economy. The fringe of the season's beginning is already taking form and is expected to supersede the prior four years in units sold. I can attest that business has been brisk leading into this point and that's refreshing to see in direct correlation to the trend line.

Statistics Chart

Above is the past year of activity and it shows a fair amount of strength in our Single Family Home market. The trend and average lines are in virtually the same plane so we're comfortable that this this segment will continue hold it's numbers. In other statistics you might see the rise in asking prices due to this activity although that is only wishful thinking on the part of many Sellers. The reality is that there has been a slight decrease in prices on the Sold side. Not to an alarming degree yet it is measurable.

Statistics Chart

The average in the Condominium sector is holding true although the trend line shows some weakening. There are two reasons this is happening and they are reduction of sale-able inventory and lack of financing. As both of these tighten the choices fade away. This time of year we expect to see the inventory grow exponentially within the next month. The higher quality and realistically priced units will be the first to sell. Our window is about 6 months in order to have this happen and with REO and Short Sale property left in poor condition the trend could effectively drop further. After December's statistics come on board we'll be able to predict the season's anticipated activity much, much better.

Condominium Sales for the Past Year in Naples, FL ~ Let Me Know If There are Any 6+ Bedroom Condos in Your Location. I'm Curious if They Exist Anywhere.

We're happy to report that no 6 bedroom Condominiums appeared in this past years report. There is always a possibility that they exist however I have never seen one here. They may have gone the same route as the Do Do Bird, excuse me I meant Dodo Bird. Nonetheless, either they've reached the point of extinction or are so popular they never reach the MLS with scores of Ready, Willing & Able Buyers gobbling them up before they even make it to the marketplace. If you happen to find one here please let me know!
Bayfront Mixed Use Condominiums in Naples Florida
The Condominium Sales take a little longer with about half exceeding 121 days on the market. The most active price range is from $299,000 and below with $50K to $99K remaining as the most popular. Typically these units will be 2 bedroom or 2 bedroom with a den. Look for well managed communities with moderate fees, the amounts can vary widely depending on amenities. If you're only going to be here 2 or 3 months each year those fees seem to add up more quickly. Planning on retiring here is a different mindset. Then you'll need to search for your perfect lifestyle.
Golf, boating and tennis are a few of the focal points your community can provide, we have them all, however choose wisely. Especially if the golf unit you like is near a drop zone. Come join us for some fun times!
Oh, we came so close to the 6 bedroom threshold just a few minutes ago. In one of our most prestigious buildings here comes a 5 bedroom plus den, 8 bathroom beauty on a high floor with onyx and marble features. Over 8,000 square feet and 3 car garage. It's all yours for $8,750,000.00!

We're Willing to Accept These Minor Tremors as We Move Into a Traditionally More Active Time of Year. Sales by Type in Naples Florida.

Minor fluctuations have been occurring since the beginning of Summer with both the Short Sale and REO marketplaces. When we look at the past year since the last reporting we see a 1.49% positive deviation in the traditional segment, an increase of .05% within short sales and a 1.54% decrease in REO activity. Watching the traditional wedge of the pie increase, however slight, is always a good sign. Slowly we turn, inch by inch, step by step...

On the monthly outlook, the REO and Short Sale inventory is perceived as the better value at this time and is what Buyers are and were seeking. Know that that mode of thinking is not always the best case scenario here. Buyers may miss an excellent value by pursuing only foreclosed and or distressed properties. I am encouraged to see the 60% threshold being maintained through this time period though, another small sign of stability in our market which would be fabulous to maintain.

Please review the previous report here!

It's Not Magic, You're Seeing the Bulk of Our Inventory Nesting in at the $249,000 and Under Range in Naples Florida

Coming off of the Summer's usual downturn we've picked up inventory in all but 2 price points. Both the $1M to $1.499M and the $4M to $4.999 points showed some minor slide backwards but this is offset by the total increase of 245 total units across the board. Ninety three of those are in the $249K and under group which coninues to be good for Buyers here. The under $500K increased by 83 residences and while not a significant change both are showing some trending for the upcoming year I believe. Here is the previous report to see where we've been. With growth in the majority of these sectors and sales remaining relatively strong there is confidence that the stability will remain in the Naples real estate market.

Chart showing property price points for real estate in Naples, Florida