FOR IMMEDIATE RELEASE
MAY
PENDING SALES UP 10 PERCENT
Activity
Remains Strong
Naples, FL (June 15, 2012) -
Pending sales increased 10 percent overall in May 2012 compared to May 2011,
according to a report by the Naples Area Board of REALTORS® (NABOR), which
tracks home listings and sales within Collier County (excluding Marco
Island). They increased by double-digit percentages in all price ranges,
except in the under $300,000 category which increased a respectable 6 percent
in May 2012 compared to May 2011.
"The market seems to be on
track right now," said Cindy Carroll of Carroll & Carroll, Inc.
"Current inventories in many market sectors mirror levels we saw in
2003/2004. This is further evidence that we are returning to a balanced
and stable market."
Mike Hughes, General Manager of
Downing-Frye Realty stated, "Inventory is down by almost 1,000 units
over the last three months and we have experienced five straight months of
positive momentum. Those are indicators of a potential strong summer for home
sales."
John Steinwand, President of
Naples Realty Services stated, "With the reduced overall inventory of 9
percent, properties are selling at higher prices than a year ago."
Coco Waldenmayer, Managing Broker
at Engel & Voelkers, agreed, "Our current overall inventory of 6,679
hasn't been this low since NABOR® began tracking the statistics in January of
2007 when inventory was 10,864."
Phil Wood, President of John R.
Wood Realtors said, "Things are improving. We are starting to see homes
sell within three days, and there has been an increase in the sale of
teardowns. During March, April and May traditional sales have increased, and
the condominium market is especially strong as shown by May condominium sales
in the $300,000 to $2 million range up 28 percent."
The May report provides annual
comparisons of single-family home and condominium sales (via the
SunshineMLS), price ranges, geographic segmentation and includes an overall
market summary.
The May sales statistics are
presented in chart format, together with these overall (single-family and
condominium units) specifics:
"Single family home sales
remain strong," remarked Jo Carter, President of Jo Carter &
Associates. "Pending sales activity in the $2 million plus category is
up 50 percent, from 18 units in May 2011 compared to 27 units in May 2012. In
the single family $1 million to $2 million category in closed sales there was
a 100 percent increase from 19 units in May 2011 compared to 38 units in May
2012."
Phil Wood reflected, "Now
that the market is improving we have seen local residents make the decision
to sell their current homes and move into their dream home. With saleable
houses, interest rates at historic lows, and affordable prices, it is the
ideal time for many to finally buy their dream home."
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.
For more market reports see http://naplesrealestateteam.com/naples_market_report
or call Scott directly at (239)289-1849 with any questions you may have
about the current market conditions in South West Florida.
Scott Riddle, PA, ABR, SFR Realty Direct (239) 289-1849 Www.Naplesrealestateteam.com |
MAY PENDING SALES UP 10 PERCENT
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