DOWNING-FYRE REALTY, INC. AUGUST 2011
STEVE SCHOEPFER, REALTOR®
Newsletter
2011 SALES ACTIVITY SURPASSING 2010
"June was a very good month for Downing-Frye Realty," said Mike Hughes, Vice-President. "Our pending sales were up 15 percent over last June. We had 241 pending sales in June 2011 compared to 210 in June 2010. Our pending sales volume was even better. It increased 29 percent over the June 2010 pending sales volume. In June 2011, we had $84 million in pending sales volume. July pending sales are up 22% over last July, and all price ranges performed well.
"Downing-Frye Realty has now closed over 2000 transactions for the year. Putting this in perspective, in 2007 and 2008, we did not close 2000 transactions for the entire year. Now we are closing 2000 transactions in just over six months. Real estate activity has definitely picked up, and the declining inventory of available properties is further proof that this market has improved. In March of 2007, the Naples Area Board of Realtors reported an inventory of 12,440 units. Its June 2011 report showed an inventory of roughly 7,200 units. That is quite a drop in inventory."
STEVE SCHOEPFER
REALTOR
©, ABR, GRI
Mobile: 239-564-3877
Toll-free: 888-708-2100
Fax: 239-947-3126
Email: steve@gulfaccess.net
www.SWFLgolf.com
www.NaplesForeclosureBroker.com
NAPLES:
The availability of properties in the Naples area market has been on a steady and rapid decline for the last year, while sales have been increasing.
The market has 18.5 percent less available properties than a year ago along with an increase in pending sales activity.
Pending sales in the beach area increased by 23 percent, while overall pending sales increased by three percent when comparing the end of the second quarter 2011 with the second quarter of 2010.
The luxury market continues to heat up with a 100 percent increase in pending sales (from 11 contracts to 22 contracts) of single-family homes priced $2 million and above (compared with a year ago).
Pending sales of single-family homes priced between $1 million and $2 million rose by 21 percent (from 34 contracts to 41 contracts) during the last twelve months.
BONITA SPRINGS:
Less properties are coming on the market. During June 2010 there were 152 new single-family home listings and 201 new condominium listings. In June 2011 there were only 125 new single-family listings for an 18 percent drop. New condominium listings are down by 31 percent compared with this time last year with only 139 new condo listings in June 2011.
Sales in the luxury market of $1 million and above have increased during the last twelve months. In June 2010 there were no luxury condos sold and only three single-family homes.
In June 2011 there were eight single-family luxury homes sold and four luxury condominiums with an average price of $1,641,829 for the top ten sales. (The top ten sales in June 2010 averaged $1,132,200.)
The top ten June 2011 sales were in Bonita Bay, Shadow Wood at the Brooks, Bonita Beach and Quail West.
ACTIVITY ACROSS THE NATION:
The median price for an existing home, nationwide, was $184,300 in June 2011, an increase of 0.8 percent from a year ago. Distressed properties (foreclosure and short sales) accounted for 30 percent of June sales, down two percent from a year ago.
Total housing inventory for the nation increased by 3.3 percent in June over the previous month and represents a 9.5-month supply based on current sales activity.
Twenty-nine percent of all transactions were cash purchases, up five percent over this time last year. Typically, cash buyers are mostly investors.
HOUSING MARKET INDICATORS
Florida existing home sales: -4% (month-to-previous-year)
Florida existing condo sales: +8% (month-to-previous-year)
Florida existing home median price: $138,000
Florida existing condo median price: $94,100
National existing home sales: -.8% (month-to-previous-month; all housing types)
National existing home median price: $184,300
National (Freddie Mac) mortgage rate: 4.60% (all housing types)
If you are considering the purchase of a golf home or golf property in one of our fine country clubs in Naples, Bonita Springs, Estero or Fort Myers, work with a true professional ... Steve Schoepfer.
ActiveRain Corp. is not responsible for the accuracy of the site's content (which is written by members of the ActiveRain Real Estate Network) and does not endorse the views of the real estate agents, mortgage brokers, and others listed here.
Powered by the ActiveRain Real Estate Network
© 2013 ActiveRain Corp. All Rights Reserved
