AFFORDABLE SALES LEAD THE WAY
Report Shows Strong Summer Sales
NAPLES, Fla.-September 17, 2010- Home sales under $300,000 continue to be very active in the Naples area 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).
"Pending sales in the $300,000 and under price range increased 11 percent in August and lead the market in sales, as buyers seek value,” said Michele Harrison, REALTOR® with John R. Wood REALTORS®. Pending sales for properties under $300,000 increased 11 percent with 548 contracts in August 2010 compared to 494 in August 2009.
“Despite the fact that the first time homebuyer tax credit ended, pending sales in the $300,000 and under price range remain strong,” stated Steve Barker, Managing Broker of Amerivest Realty. Pending sales for properties under $300,000 increased 19 percent in a comparison of the 12 months ending August 2010 and the 12 months ending August 2009.
The 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 for the 12 months ending August 2010 increased 22 percent with 9,607 contracts compared to 7,881 contracts for the 12 months ending August 2009.
• Overall closed sales for the 12 months ending August 2010 increased 30 percent with 8,094 sales compared to 6,232 sales for the 12 months ending August 2009.
• Single-family pending sales increased 14 percent with 436 contracts in August 2010 compared to 383 contracts in August 2009.
• The available inventory declined 4 percent to 8,745 in August 2010 compared to 9,140 in August 2009.
The overall median closed price decreased 6 percent to $160,000 in August 2010 from $170,000 in August 2009. “While the overall median closed price dropped 6 percentage points, it actually increased for closings in the price ranges between $300,000 and 2 million. This is good news for many sellers, in spite of the fact that properties selling at $300,000 and under continue to lead the market in sheer number of closings,” said John Steinwand, President of Naples Realty Services.
Condo closed sales declined 2 percent with 244 sales in August 2010 compared to 248 sales in August 2009. Condo closed sales for the 12 months ending August 2010 increased 45 percent to 3,980 sales compared to 2,749 sales for the 12 months ending August 2009 “Foreclosure closings were very active in August which resulted in a lower median price for condo sales,” said Phil Wood, President of John R. Wood REALTORS®. The median price for condos decreased 17 percent in August 2010 compared to the same month last year.
To view the report, go to www.Naplesarea.com To See Statistics showing increase in acivity of $300,000+ sales and a reduction of inventory go to statistics for August 2010.
Thursday, September 23, 2010
Florida’s existing home, condo sales up in August
ORLANDO, Fla. – Sept. 23, 2010 – Sales of existing homes in Florida rose 1 percent in August, with a total of 13,997 homes sold statewide compared to 13,908 homes sold in August 2009, according to the latest housing data released by Florida Realtors®. Statewide existing home sales in August increased 3 percent over statewide sales activity in July.
Ten of Florida’s metropolitan statistical areas (MSAs) reported higher existing home sales last month, while 13 MSAs posted increased existing condo sales. Florida’s median sales price for existing homes last month was $134,000; a year ago, it was $146,500 for a decrease of 9 percent. The median is the midpoint; half the homes sold for more, half for less.
The national median sales price for existing single-family homes in July 2010 was $183,400, up 0.9 percent from a year earlier, according to the National Association of Realtors® (NAR). In Massachusetts, the statewide median resales price was $333,000 in May; in California, it was $314,850; in Maryland, it was $267,489; and in New York, it was $227,000. "More Details"
Ten of Florida’s metropolitan statistical areas (MSAs) reported higher existing home sales last month, while 13 MSAs posted increased existing condo sales. Florida’s median sales price for existing homes last month was $134,000; a year ago, it was $146,500 for a decrease of 9 percent. The median is the midpoint; half the homes sold for more, half for less.
The national median sales price for existing single-family homes in July 2010 was $183,400, up 0.9 percent from a year earlier, according to the National Association of Realtors® (NAR). In Massachusetts, the statewide median resales price was $333,000 in May; in California, it was $314,850; in Maryland, it was $267,489; and in New York, it was $227,000. "More Details"
Tuesday, September 21, 2010
Florida sees increase in international buyers
ORLANDO, Fla. – Sept. 21, 2010 – A number of factors contributed to the decline in home sales nationally and in Florida specifically, but the growing importance of foreign homebuyers has offset some of the damage. Roughly two out of every three Realtors in the state had at least one international transaction within the past year.
While U.S. buyers continue to struggle, foreign buyers generally see U.S. real estate as a desirable, profitable and secure investment. In addition, a weak U.S. dollar has made Florida real estate even more attractive recently.
The National Association of Realtors®, in cooperation with Florida Realtors, conducted a survey of Florida members, asking them about their experience working with international clients. The survey was conducted in July-August 2010. A total of 936 responses were received.
Report highlights
• 65 percent of survey participants – members of Florida Realtors – worked with an international client in the past 12 months. One in five worked with two international clients, and 18 percent working with three or more.
• Half of the respondents said that international clients accounted for 25 percent or less of their business; 15 percent reported that international homebuyers accounted for more than half of their business. "More Details"
While U.S. buyers continue to struggle, foreign buyers generally see U.S. real estate as a desirable, profitable and secure investment. In addition, a weak U.S. dollar has made Florida real estate even more attractive recently.
The National Association of Realtors®, in cooperation with Florida Realtors, conducted a survey of Florida members, asking them about their experience working with international clients. The survey was conducted in July-August 2010. A total of 936 responses were received.
Report highlights
• 65 percent of survey participants – members of Florida Realtors – worked with an international client in the past 12 months. One in five worked with two international clients, and 18 percent working with three or more.
• Half of the respondents said that international clients accounted for 25 percent or less of their business; 15 percent reported that international homebuyers accounted for more than half of their business. "More Details"
Thursday, September 2, 2010
Pending home sales rise
WASHINGTON – Sept. 2, 2010 – Following a sharp drop in the months immediately after expiration of the homebuyer tax credit, pending home sales have modestly risen, according to the National Association of Realtors® (NAR).
The Pending Home Sales Index (PHSI), a forward-looking indicator, rose 5.2 percent to 79.4 based on contracts signed in July from a downwardly revised 75.5 in June; it’s 19.1 percent below July 2009 when it was 98.1. Pending sales data reflects contracts and not closings, which normally occur with a lag time of one or two months.
“Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery,” says Lawrence Yun, NAR chief economist. “But the recovery looks to be a long process. Homebuyers over the past year got a great deal, and buyers for the balance of this year have an edge over sellers. For those who bought at or near the peak several years ago, particularly in markets experiencing big bubbles, it may take over a decade to fully recover lost equity.” Market Details
The Pending Home Sales Index (PHSI), a forward-looking indicator, rose 5.2 percent to 79.4 based on contracts signed in July from a downwardly revised 75.5 in June; it’s 19.1 percent below July 2009 when it was 98.1. Pending sales data reflects contracts and not closings, which normally occur with a lag time of one or two months.
“Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery,” says Lawrence Yun, NAR chief economist. “But the recovery looks to be a long process. Homebuyers over the past year got a great deal, and buyers for the balance of this year have an edge over sellers. For those who bought at or near the peak several years ago, particularly in markets experiencing big bubbles, it may take over a decade to fully recover lost equity.” Market Details
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