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We have been reporting good news for some time now and as we come to you today, it’s no different. As we transition into the new season for real estate and at the same time a New Year – it is both promising and unsurprising to see that for some time now sales have been on the rise.
Looking at the numbers that came in for 2011, we see an increase in sales across the board, with as much as a third more units sold than the previous year in some price points. Most notable, was the increase in 2011 as compared to 2010 within the homes in the range of $3 to $5 million, with a 34% jump in sales from one year to the next. And with the exception of properties that sold for over $5 million, we witnessed an increase in sales in every price category in 2011 as compared to 2010.
The Chief Economists of both the National Association of Realtors and the Florida Association of Realtors have pegged our area as one that will continue to see a major improvement in sales. Very exciting news! When we see this happening, we know that price increases are on the horizon. Also, with this positive change we can expect to experience a rise in home values as home appreciation finally seems to be within reach after several years of instability.
Moving ahead into 2012, we are hopeful and confident that sales will continue to rise throughout the year – leaving a significant opportunity for our market to bounce back to where it once was just a few seemingly sort years ago. And in terms of sales, if 2011’s 6% increase over 2010 is any indication of direction our market is headed, we can be sure that Southwest Florida is definitely on the way to the top real estate producing regions again. Buyers will continue to have strong buying power with the incredible interest rates that we project will remain for at least the first half of 2012, if not the entire year. And as increasing sales numbers persist, inventory will level off even more – yet another reason for prices to rise as our local real estate industry stabilizes.
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If you are considering buying, selling or even just exploring properties – we look forward to the opportunity to serve your needs for any and all real estate endeavors.
For Graphs on the Market in Naples Click Here! >>
For the Data Sources Click Here >>
