2012 MEDIAN CLOSED
PRICE INCREASED 17 PERCENT
Contacts:
Wes Kunkle, NABOR President & Media Relations Committee Chairman, (239)
216-2839
Marcia Albert, NABOR Director of Marketing, (239) 597-1666
Naples, Fla. (Jan. 18, 2013) -
The Naples area overall median closed price increased a remarkable 17 percent
from $175,000 in 2011 to $204,000 in 2012, 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).
"At our annual Economic
Summit held in April, Dr. Lawrence Yun, Chief Economist of the National
Association of REALTORS®, predicted a 10 percent increase in the overall
median price by the end of 2012," stated Brenda Fioretti, Managing
Broker at Prudential Florida Realty. "At the time, many people were
incredulous with his assessment, but now today we are delighted to see the
real estate market's prices rebounding and surpassing estimates."
The NABOR® 2012 Annual Report
provides comparisons of single-family home and condominium sales (via the
SunshineMLS), price ranges, and geographic segmentation and includes an
overall market summary. The NABOR® annual sales statistics are presented in
chart format, including these overall (single-family and condominium units)
findings:
- Overall closed sales increased 9 percent, from 8,345 units in
2011, compared to 9,121 units in 2012. Overall closed sales increased 20
percent in the $300,000-$500,000 category, from 1,129 units to 1,357 units,
and increased 29 percent in the $500,000-$1 million category, from 794 units
to 1,022 units, from 2011 to 2012, respectively.
- Overall pending sales increased 6 percent, from 10,070 pending
sales in 2011 to 10,683 pending sales in 2012.
- Overall inventory decreased by 13 percent, from 7,581 listed
properties in 2011 to 6,557 listed properties in 2012. Pending sales with
contingent contracts are included in the overall inventory number.
- Overall pending sales in the Naples coastal area increased 15
percent, from 1,791 units to 2,057 units, in 2012. Closed sales increased 14
percent, from 1,641 units in 2011 to 1,869 units in 2012.
"2012 was a very good year across the board for the Naples
area real estate market," stated Mike Hughes, Vice President and General
Manager of Downing-Frye Realty. "From overall pending sales to closed
sales and higher median closed prices, along with a continued decrease in
inventory, it was a strong year. So strong, in fact, that we now would like
to see higher levels of available inventory."
Thomas A. Bringardner Jr., President and CEO of Premier
Commercial, added "The continued economic recovery, both nationally and
locally, as well as the decrease in the unemployment rate (dropping to 7.8
percent for Collier County in November 2012) and increase in tourism is
benefitting the residential and commercial market."
"The overall commercial market has remained relatively
steady and now we are seeing modest improvements," he said. "Recent
large deals, including the sale of the Fifth Third Bank building and the
Venetian Village, in addition to large land deals, highlight the improvement
in the commercial market."
The NABOR® 2012
Fourth Quarter Report provides annual comparisons of
single-family home and condominium sales (via the SunshineMLS), price ranges,
and geographic segmentation and includes an overall market summary. The
NABOR® fourth quarter statistics are presented in chart format, including
these overall (single-family and condominium units) findings:
- Overall closed sales increased 22 percent, from 1,689 units in
fourth quarter 2011 to 2,061 units in fourth quarter 2012. Overall closed
sales increased 58 percent in the $300,000-$500,000 category, from 207 units
to 328 units, and increased 51 percent in the $500,000-$1 million category,
from 146 units to 221 units, from fourth quarter 2011 to fourth quarter 2012,
respectively.
- The median closed price increased 24 percent overall, from
$165,000 in fourth quarter 2011 to $205,000 in fourth quarter 2012.
- Overall pending sales increased 8 percent, from 2,250
pending sales in fourth quarter 2011 to 2,422 pending sales in fourth quarter
2012.
- Overall inventory decreased 13 percent, from 7,580 units for
fourth quarter 2011, compared to 6,557 units in fourth quarter 2012.
To view the entire report,
visit www.NaplesArea.com
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 4,000 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.
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Sunday, January 20, 2013
2012 MEDIAN CLOSED PRICE INCREASED 17 PERCENT
ScottSorensonRealEstate.Com
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