Naples, Fl: Median Homes Prices Increase, Again

By
Real Estate Agent with Downing-Frye Realty, Inc. Naples, FL
http://actvra.in/BCx

NABOR = Naples Area Board of REALTORS...this headline front page May 26, 2012.

Just some data:

With April's data just reported, we now see five consecutive months of median price increases. The median is the number where 50% of the sales close below and 50% of the sales close above.

The median price increased 22% overall from April of 2011. Statewide, the median price increased 10.2% from one year ago.For townhomes and condominiums, statewide, the median price increased 16.1% over April 2011.

The article went on to state there could be concern moving forward as the Florida market sees many sales to European buyers and if the eurozone debt crisis pushes Europe toward a recession it could impact, negatively, the local real estate market.

In Naples, short sales and foreclosures make up less than 25% of the market. At one point the financially distressed properties represented more than 60% of the market. The overall inventory dropped 13% to 7,130 properties down from 8,214. And, this is well off the peak inventory number of more than 12,000 just a few years back.

The pending sale inventory in the $500,000 to $1 million segment increase 20% in April 2012 over April 2011.

The mortgage crisis is not over and there are still many properties under water. I expect positive news like this to continue but it will be tempered for some time as the financially troubled properties continue to work through the process.

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Topic:
Real Estate Market Trends
Location:
Florida Collier County Naples
Tags:
naples florida median home prices

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Rainmaker
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Bob Pisa Downing-Frye Realty

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Additional Information

Bob Pisa Downing-Frye Realty

Outstanding Performance Award: 2011
Top Performance Award 2012
Gulfshore Life Magazine Five-Star Award: 2010, 2011, 2012, 2013

Author Bio: Bob Pisa moved to the Naples area after spending 30 years in the Boston area. He was raised in the metro-NYC area and graduated from the Rochester Institute of Technology (Rochester, NY) in 1974. His career has been primarily in high-technology manufacturing and enterprise software for multi-national companies. Bob was also a successful small business entrepreneur and ultimately sold his start up business after six years of operation to a major corporation. He is the former Vice President for the Grandezza Master Homeowner's Association (two terms) and former President of the Santa Lucia Homeowner's Association (three terms.) Bob attained his real estate license in 2005, and is working in commercial and residential real estate. He is a member of Naples Area Board of Realtors®, NAR, and Florida REALTORS.