Posted on Wednesday, March 28, 2012
Yesterday CNN Money reported “The housing market started the new year with a thud. Home prices dropped for the fifth consecutive month in January, reaching their lowest point since the end of 2002. The average home sold in that month lost 0.8% of its value, compared with a month earlier, and prices were down 3.8% from 12 months earlier, according to the S&P/Case-Shiller home price index of 20 major markets.”
Hah I said. Naples is having its best tourist season in years, prices bounced back last year, the economy is improving, people are feeling more confident and the all important supply-demand inventory picture should be better for prices. Surely Naples is bucking the national trend. Not so fast. A quick look at the MLS data for Naples this morning shows a Naples real estate pattern similar to national trends. Let’s take a look at the facts.
Single family home prices in Naples dropped in January and February – just like the CNN Money national report. Ditto for Villas. Condos were the exception showing a nice up tick in January and February but all categories showed a slight decline in prices over the last twelve months. We are still clearing foreclosures and short sales are still out there, but I thought we would be doing a little better – but facts are the facts.
What to do if you are a buyer or a seller? First, know your neighborhood because these trends may differ widely block to block. Buyers should continue to drive a hard deal and sellers should be flexible – in general – in a softer price market.
Have a chat with us about your real estate needs and let us help you sort it out.
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No legal, investment, or tax advice is being given in this Blog. Consult with legal, financial and tax professionals before acting on any real estate transaction. Actual real estate price and sales results are subject to market forces and are not completely predictable. The writings of this Blog are intended for the sole use of our clients.
Mark Goebel, PA is a REALTOR with Coldwell Banker on 5th avenue in Naples, Florida with 35+ years of visiting and living in Naples. After 25 years at Accenture, Mark retired as a managing director and spends his time helping non profits and building a Naples real estate team with his wife Nan. Talk to Mark and Nan about life in Naples and why they chose this place to live full-time over all others and enjoy Naples real estate.
Mark Goebel, PA
REALTOR Coldwell Banker 5th Avenue South
Mobile: 239.595.3921
Email: mark.c.goebel@gmail.com
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