Contrary to the reduction of pending and closed sales in the 3rd quarter of 2014, real estate agents  across Collier  County reported being very busy keeping up with the growing demand. This anomaly, as  confirmed by a panel of  brokers analyzing the NABOR® 3rd Quarter 2014 Naples area market  statistics, is likely a result of the market  experiencing an influx of new home construction that, while  not reported in the Southwest Florida MLS, has  replenished the void resulting from a decreased  inventory in the resale market.

 “I don’t think the market need has changed,” said Steve Barker, Advising Broker for Equity Realty.  “Agents are  showing homes every day because the new construction market has finally caught up to  the demand. But the resale  market is still desirable as location continues to be a factor for many new  home buyers and the new construction  market can’t be everywhere.”

 The NABOR® 3rd Quarter 2014 Report provides comparisons of single-family home and  condominium sales (via  the Southwest Florida MLS), price ranges, and geographic segmentation and  includes an overall market summary.  The NABOR® 3rd Quarter 2014 sales statistics are presented in  chart format, including these overall (single-family  and condominium) findings: 

• Pending sales of single family homes over $2 million increased 26 percent from 43 in 3rd quarter 2013 to 54 3rd quarter 2014.
• Pending sales of condominiums between $1 million and $2 million increased 29 percent from 38 in 3rd quarter 2013 to 49 in 3rd quarter 2014.
• Overall closed sales in the $300,000 to $500,000 category increased 13 percent from 398 in 3rd quarter 2013 to 451 in 3rd quarter 2014.
• Overall closed sales in the $1 million to $2 million category increased 14 percent from 91 in 3rd quarter 2013 to 104 in 3rd quarter 2014.
• Overall median closed price increased 13 percent from $234,000 in 3rd quarter 2013 to $265,000 in 3rd quarter 2014.
• Overall median home price of homes over $300,000 decreased 7 percent from $530,000 in 3rd quarter 2013 to $493,000 in 3rd quarter 2014.
• Overall inventory decreased 9 percent from 4,080 homes in 3rd quarter 2013 to 3,702 homes in the 3rd quarter of 2014.
• Overall inventory of single family homes in the $300,000 to $500,000 market increased 15 percent from 422 in 3rd quarter 2013 to 487 in 3rd quarter 2014.

 According to Kathy Zorn, broker/owner at Florida Home Realty, “Homes priced under $300,000 may  make up over  60 percent of our market but this is not our entire market. In fact, the 3rd quarter report  showed an increase in  inventory of single family homes in the combined price categories above  $300,000, which accounts for 1,564 homes  or 42{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} of the overall 3rd quarter inventory.

 NABOR® also released its September 2014 Market Report, which revealed the following:

• Overall pending sales increased 2 percent from 810 in September 2013 to 829 pending in September 2014.
• Overall closed sales decreased 3 percent from 9,919 in the 12-months ending September 2013 to 9,585 closed sales in the 12-months ending September 2014.
• Overall median closed price increased 14 percent from $230,000 in the 12-months ending September 2013 to $262,000 in the 12-months ending September 2014.
• Overall inventory decreased 9 percent from 4,080 in September 2013 to 3,702 in September 2014.

As always, contact us for any and all of your real estate needs in Marco Island and Naples.  We can also help you find a great agent anywhere in the US.  Call, e mail or text us today at 239-677-4507 or [email protected] / [email protected] .

Starting December 1, 2014 stop in and check out our BRAND NEW OFFICE next to Dunkin Donuts on Marco Island. The address is 1089 N. Collier Blvd # 436 in the Marco Town Center!

MARCO ISLAND REAL ESTATE MARKET STEADY
AUGUST 2014 TO AUGUST 2013 COMPARISON

PRESENTED BY MIAAOR

MLS statistics, released by the Marco Island Area Association of Realtors® for Marco Island only properties compare August 2014 to August 2013.

Marco Island MLS Statistics, for Marco Island only property, continues to be a sellers market, according to the Marco Island Area Association of Realtors. Active inventory continues to decrease from a year ago and pending statistics for all property types are up.

• Home Activity: The number of new single family properties listed for sale in August 2014 v. August 2013 was unchanged (31 v. 31). The total number of single family properties active on the market decreased by 18.38{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (262 v. 321). The average sale prices decreased by 15.40{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($572,238 v. $676,373) while the median sale price for closed single family homes decreased by 3.23{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($531,250 v. $549,000). Total sold dollar volume for single family homes increased from $20,967,550 in August 2013 to $24,034,000 in August 2014, a 14.62{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} increase.

• Condominium Activity: The number of new “condo” listings this August v. last August decreased by 7.14{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (39 v.42). The total number of condos on the market from last year has decreased by 26.30{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (297 v. 403). The average sale price for condos was down 12.03{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($342,488 vs. $389,305), while the median sale price for condos was up 7.29{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($287,000 v. $267,500).

• Total sold dollar volume for mutli-family decreased 24.02{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} from $17,129,440 in August 2013 to $13,014,559 in August 2014.

• Lot Activity: Newly listed Lots in August 2014 v. August 2013 decreased by 16.67{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (15 v. 18). Total number of active Lot listings increased 20.50{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (288 v. 239) from last year. Average sale price was up 5.00{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($344,925 v. $328,488) while median sale price was down 21.34{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($280,000 v. $355,950).

(Average sale price is total sales in dollars divided by the number of sales and median sale price means 50{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} of sales were above and 50{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} of sales were below.)

• Pending Sales: The number of pendings for all property types was up 3.48{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03}.
Single family pendings in the comparison is up 6.52{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (49 v. 46); Lots up 10.00{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03}
(11 v. 10) Multi-family up 3.51{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (59 v. 57).

• Closed Sales: The number of Single Family homes closed is up considerably 35.48{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (42 v.31) in the August-to-August comparison. The number of condo’s closed in the comparison is down 13.64{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} (38 v. 44) and the number of lots closed was up 25.00{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03}
(10 v. 8) in the same comparison.

• For all property types, average sale price was down 30.02{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($439,428 v. $627,940) while median sale price was up 1.50{b625ae8fc1ab51a1b4bc3bb9ab54ef8d28b38ca759cb0171c638fe7e178ebb03} ($405,000 v. 399,000).

We continue to see a strong market with rising values but low inventory. As always, please contact Emily or Todd if you have any questions.