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.

To Determine Your Listing Period, Analyze Your Local 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.

How Long Should You List Your Naples Home?

A lot of our clients here in Naples have been wondering how long they should list their homes for. Some people believe that if they contract for a shorter listing period that an agent will work harder and sell their home faster. This is not necessarily true, and your agent has very little control over what happens in the real estate market. However, you need to give your real estate agent an adequate amount of time to get your property listed, marketed and sold.

You must take into account what is happening in your local real estate market. In addition to looking at the local market, you will want to also consider your specific neighborhood.  Depending on where you are your property could sell a little faster or a little slower when compared to a similar property in a different area.  Real estate markets can be extremely local and can vary wildly from community to community.  

Determine an Agreeable Time Frame to Sell Your Property 

You must take into account what is happening in your local real estate market. In addition to looking at the local market, you will want to also consider your specific neighborhood.  Depending on where you are your property could sell a little faster or a little slower when compared to a similar property in a different area.  Real estate markets can be extremely local and can vary wildly from community to community. 

If you get impatient and remove your listing, you would then have to start the entire process over again, and this will only cost you more time and money. This is why it is important to hire professionals, like The Saad Team who know and study the market, pricing, and trends every day. Know your local real estate market before you sign a listing contract. You shouldn't expect your home to sell instantaneously, but you should have a reasonable time frame in mind so that your property does not go stale.

If you have any questions, or if you or anyone you know is looking to sell, buy, or invest in real estate, please contact the Saad Team at (239) 595-8500 or email us at sold@thesaadteam.com.

Real Estate Websites Can Lead You Astray

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.

Are Online Home Searches Trustworthy?

Today we are going to talk about real estate websites because so many people are going online to search for homes these days. Whether it's shopping for shoes, searching for information, or browsing for homes, people are now turning to the World Wide Web as their #1 resource.

People often use websites like Realtor.com, Trulia, or Zillow to search for properties online. However, there are major pitfalls to using these websites when you're searching for a home in Naples, and this is what we want to address for you today.

Real Estate Websites are not Always Accurate or Updated
There are many times when we receive a call from one of our clients who is very excited to see a particular property in Naples. We will then speak with this client and get the information about the property, including the MLS number. The MLS is the home search engine that real estate professionals use to list homes and mark them as closed. This updated information helps us track sales data.

Websites like Trulia or Zillow will not have accurate and updated information on properties like the MLS will. We often find that a home that one of our clients saw on these websites is already sold or already under contract. Websites like these can waste your precious time, and this can end up costing you money as well as a good home.

Another downfall to these websites is that they use what is called an 'Automated Estimation Value System'. In fact, the NABOR listing contract specifically allows sellers to opt out of them, and most of our sellers choose to do this. This is because the automated value system that these websites utilize is often not accurate or up-to-date. This system does not always pull directly from the public records or the recent sales in your local area, so it gives people an inaccurate portrait of the market. 

One more reason we do not recommend these websites to our customers is because they will actually take your information and sell it to real estate agents. Real estate agents can then 'buy' opportunities to get leads on listings by purchasing your information. This information is often sold to multiple agents who do not have your best interests in mind.

So, when you're looking to buy, sell or invest in a home, be sure to contact The Saad Team, your professional team of real estate agents. We can provide you with accurate information - and most importantly - a customized service to find the perfect home that will suit all of your needs.

We look forward to helping you find your dream home in Naples! As always, if you have any questions about the real estate landscape here in Collier County, please feel free to contact us and we would love to provide you with all of our updated information.

If you would like to buy, sell, or invest, give us a call at (239) 595-8500 or email us at sold@thesaadteam.com.