Tuesday, March 8, 2011

Naples Luxury Home Sales Up 63%

By Bob Dratler Bob Dratler
Level: Basic

Author has decades of Realtor experience with the dream home and luxury home market; home types including mansions and million dollar homes. Also vacation homes, ...

Naples real estate luxury home sales is looking to post a really strong year, says a report released today by the Naples Area Board of REALTORS? which tracks MLS listings and sales within Collier County. In addition, overall, pending sales increased 36 percent in January 2011 compared to January 2010 and property showings are up significantly in February, as potential buyers are getting off the fence to make purchases. Dr. Shelton Weeks, Lucas Professor of Real Estate and Director of the Lucas Institute for Real Estate Development at Florida Gulf Coast University said, "It looks like we are experiencing the wealth effect. Buyers are looking at their portfolios and feel wealthier than last year." It appears people feel more confident in 2011 which increases the probability that they will buy a home right now. Today's report provides year-to-year comparisons of both single-family homes sale and condos sale properties from price ranges, geographic segmentation and includes an overall market summary. The statistics were presented along with the following analysis:

? Overall pending sales for luxury home properties and million dollar homes price category increased 63 percent in January 2011 compared to January 2010.

? Single-family pending sales increased 40 percent with 536 contracts in January 2011 compared to 383 contracts in January 2010.

? Condos sale properties in the pending sales category increased 32 percent in January 2011 with 565 contracts compared to 427 contracts in January 2010.

? The average days a property was on the market decreased 15 percent in January 2011 to 160 days on the market compared to 188 days on the market in January 2010. The majority of those properties are traditional sales which make up 53 percent of the Naples area market.

? The number of short sales in the Naples market is at its lowest point in over 19 months; this indicates a significant market change."

Naples real estate as this sun-drenched seaside community has weathered the latest housing crisis very well compared to other locales in Florida. With the first boomers retiring in 2011 we see good things for Naples real estate for the next decade and beyond. The macro-economic forces of continued population growth, limited supply of waterfront Sunbelt real estate, boomer retirement, and three years of below normal housing starts are just now beginning to collide with increased demand. We predict Naples real estate prices to return to levels where they were prematurely fixed in 2005 and 2006."

As a Naples Realtor, we have decades of Realtor experience with home types including vacation homes, active retirement property, golf homes, beach condos, high rise homes and luxury beach home properties. Dream home communities like Aqualane Shores, Bay Colony, Coquina Sands, Grey Oaks, Moorings, Old Naples, Park Shore, Pelican Bay, Pelican Marsh, Port Royal, Royal Harbor and Tiburon. Author is a SRES designee of the National Association of Realtors. Visit us at http://www.team1-realestate.com for more information about a luxury home, mansions and million dollar homes. Also register at http://www.naplesrealestateguys.com/naples-real-estate-free-gift.php for 4 free Florida eBooks totaling over 300 pages via an instant download in pdf format.

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Article Submitted On: February 20, 2011

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