Where Is the Naples Market Heading?

Naples is a beautiful city with gorgeous homes for sale. If you want to sell, we can provide a Home Price Evaluation, or if you are thinking about buying a home, click here to view all our listings. If you have any questions or are interested in meeting for a home buying or selling consultation, please call us at 239-595-8500.

Sorry for the long absence, the last few months have been incredibly busy here in Naples. Our market has finally returned to normal, so we now have some time to give you an update on current conditions.

The great news is our spring season this year ended right on target. We had the same number of sales in the first months of this year as we did during the same time period in 2005. It's not quite a seller's market yet, but we are seeing multiple offers in a few neighborhoods across the area. On average, homes are sitting on the market for 90-97 days. If you list with the Saad Team, you can expect your home to sell within 92 days. 

Now let's take a look at some of the numbers in our market:
Current Market Conditions, as of May 2015, compared to May of 2014:

• New listings have dropped by 55%, and there are only 751 current listings
• Home sales have increased by 9%, and there have been 485 home sales just this May
• The median home price shot up by 17% to $420,000
• The average days on market has dropped to 84 days, a 7% decrease from last year
• Year-to-date new listings have dropped by 59%, as we only have 4,628 listings right now compared to last year's 11,195
• The amount of homes sold year-to-date has stayed steady, with a 1% increase from last year (2,215 homes sold in 2015)

The decline in inventory is pushing the median price up to the highest number we've seen since 2008!

If you would like a more detailed market analysis, or if you have real estate questions of any kind, give the Saad Team a call. We are always here to help you make sense of the Naples market!

What Are Market Conditions in Naples Like?

Naples is a beautiful city with gorgeous homes for sale. If you want to sell, we can provide a Home Price Evaluation, or if you are thinking about buying a home, click here to view all our listings. If you have any questions or are interested in meeting for a home buying or selling consultation, please call us at 239-595-8500.

We're very excited to ring in the New Year and recap what we saw in Naples real estate this last year!

Naples has had an incredible real estate run over the last year and we're looking forward to an even better one in 2015! Year to date there has been 9,884 closed sales. 

We're hoping to see an increase in inventory, as there are many buyers in the market looking for the perfect home. Current inventory is sitting at 4,214 active listings (not including vacant land). This number has crept up as the season approaches. Indeed, conditions are ripe for getting top dollar for your home in a short amount of time. 

Here is a breakdown of the sales statistics from The NABOR® October 2014 Report:

• Overall median closed price increased 13 percent from $235,000 in the 12-months ending October 2013 to $265,000 in the 12-months ending October 2014.

•Overall pending sales increased 9 percent from 839 in October 2013 compared to 911 in October 2014.

•Pending sales for condominiums in the $1 million-$2 million category increased 211 percent from 9 in October 2013 compared to 28 in October 2014.

•Overall closed sales decreased 2 percent from 9,912 in the 12-months ending 2013 to 9,667 in the 12-months ending 2014.

•Closed sales for single family homes in the $2 million and above category increased 31 percent from 210 in the 12-months ending October 2013 to 275 in the 12-month ending 2014.

•Median closed price increased 13 percent from $235,000 in the 12-months ending October 2013 to $265,000 in the 12-months ending October 2014.

•Overall median closed price for homes in the $1 million-$2 million and $2 million and above categories both decreased 3 percent.

•Overall inventory decreased 10 percent from 4,376 homes in October 2013 compared to 3,939 homes in October 2014.

•Average days on market for October is at 73. 

As always, The Saad Team is here to help you with all of your real estate needs. If you're thinking about selling right now, give us a call at (239) 595-8900! We would love to hear from you!

Explaining the Feast and Famine Phenomenon in the Naples Real Estate Market

Naples is a beautiful city with gorgeous homes for sale. If you are thinking about buying a home, click here to view all our listings, or if you want to sell, we can provide a Home Price Evaluation. If you have any questions or are interested in meeting for a home buying or selling consultation, please call us at 239-595-8500.

Explaining the Feast and Famine Phenomenon in the Naples Real Estate Market

A lot of our clients here in Naples have noticed that when they check the MLS in their neighborhood they seem to find either a large amount of listings, or nothing it all. What is the reason for this feast and famine cycle in real estate? Well, let us explain.

When a new condominium complex is built, usually all of the sales occur at the same time. This can occur with subdivisions too. They are usually constructed in 2-3 years and consumers buy up the properties and lots all at the same time. 

Once all of these properties are initially bought out, a turnover usually occurs after 3-7 years and people begin selling their properties. This obviously brings in a new batch of buyers and it creates a cycle where you have lots of buyers coming in around the same time every few years, and then you will see another wave of for-sale properties a few years down the road.

Another factor in this phenomenon can be the age of the building and the type of community that it harbors. Sometimes people move to a certain area for the lifestyle that it provides, but when their preferred lifestyle changes, then they will move elsewhere. 

This is why it seems like everything suddenly pops up on the market, and then the next thing you know, nothing is for sale. 

As always - if you're looking to buy, sell or invest in Naples real estate, then you know where to turn for satisfactory service. Call The Saad Team, your local professionals. We can sit down and discuss all of your individual needs. 

Naples Is A Beautiful City

Real Estate Market Update for Collier County in Q1 2014

Naples is a beautiful city with gorgeous homes for sale. If you are thinking about buying a home, click here to view all our listings, or if you want to sell, we can provide a Home Price Evaluation. If you have any questions or are interested in meeting for a home buying or selling consultation, please call us at 239-595-8500.

Real Estate Market Update for Collier County in Q1 2014

Our clients in Naples and Collier County have been consistently asking us what is going on in the real estate market here in South Florida. We will be comparing statistics from the first quarter of 2013 to what has happened in the first quarter of 2014 in order to provide you with a clearer picture of our market.

In the first quarter of 2013 there were 2,237 home sales compared to 2,352 sales in Q1 of 2014.

        - This translates to a 5% increase in home sales year over year.

Naples and Collier County are currently situated in a normal market.
       - Inventory for Q1 2014 has decreased to 4,405 homes compared to 5,136 homes in 2013.

The average days on market are at 95 for the first quarter of 2014, compared to 161 in 2013.

If you take a look at the graphs down below, you will see a few different statistics:

       - Closed sales have increased slightly from the first quarter of 2013, but the number of pending sales has dropped just slightly.

      - Year over year, both pending sales and closed sales have increased.

      - Inventory has increased by roughly 14% from 2013.

      - The median home price for homes valued at less than $300K has increased from $215K to $248K, which amounts to a 13% increase in value.

       - The median price for homes that were worth more than $300K experienced a slight increase from $540K to $545K.

Another interesting thing we saw was that the median sales price in Q1 of 2013 was $230,000 dollars and the current median price in 2014 has jumped to $265,000 dollars.

      - One reason for this change is that we saw decreases in sales under $300,000 but we saw a large rise in the sales of high-end properties in the $1 million - $2 million dollar range.

Overall, the real estate marker here in Naples is much better off than it was just a few years ago. We are in a normal market with a good level of inventory (perhaps a little bit on the low side, but it's evening out), sales are increasing at a stable rate and we're also seeing a lot of new construction start to take place.

Here are some of the things you can expect from the Collier County real estate market this summer:

   1. You will be seeing a lot more new construction popping up.
   2. Home sale prices will increase modestly.

       - We will not see the rapid and unstable increase in home prices that we have experienced in years prior.

If you have any specific questions about your price point, your neighborhood, or your local market, call The Saad Team, your local professionals. We will sit down and discuss all of your individual needs.