Posted on Tuesday, April 17, 2012
We reported the 20%+ increase in average Naples real estate prices in the first three months of the year and the continued low inventory levels supporting the market. Now we have further confirmation the market is looking healthier – building permits are up.
Below is data recently complied by Susan Monroe of the city’s building department. and passed along to us by Doug Finlay. It confirms what many already knew, that construction activity is on the upswing, especially with regards to the number of permits being issued for single family homes. Although multi-family unit permits remain very soft, they are up from the bottom as well.
Period Single Family Multi Family Total Demolition Net Gain (units)
4/07-3/08 97 68 165 -150 15
4/08-3/09 97 55 152 -94 58
4/09-3/10 61 16 77 -54 23
4/10-3/11 38 5 43 -65 -22
4/11-3/12 83* 8 91 -66 25
Up %118 from the low
Keep your eye on the demolition figures in the months ahead. With very little new, single family inventory and the need to wait a few months to see the big boys bring big development projects on-line we think there will be more tear downs and spec home building. This morning we are off to view three potential sites to build brand new spec homes and sell them next season – stay tuned for these developments.
Great to see some continued health in the local markets.
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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.
Some of the data relating to real estate for sale on the NaplesBestAddresses.com website comes in part from the Broker reciprocity program of M.L.S. of Naples, Inc. The properties displayed here may not be all the properties available through the MLS reciprocity Program. This information is deemed reliable but is not guaranteed. Buyers and sellers are responsible for verifying all information about their purchase prior to closing.
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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