Posted on Wednesday, May 01, 2013
Our positive real estate price trends continue. Looking at March (most recent month for full month results) – we had another good month with the overall median price up 17% from $184,000 to $215,000 and pending sales up 4% over last year, and they are up in every price range.
Property is selling faster as the average days on market fell 8% and available inventory fell 14% from 7599 units in March last year to 6565 units this year. Supply (inventory) decreases should continue to support higher prices due to scarcity.
Naples Economic Conditions Are Improving
According to Dr. Gary L. Jackson, Director of the Regional Economic Research Institute at Florida Gulf Coast University “Collier County and Southwest Florida are continuing to recover from the housing bubble and financial market crisis that began in 2006. This has been a very slow and somewhat “choppy” recovery but we are seeing improvements in our local economy. Collier County taxable sales were $651.3 million in December 2012, four-percent higher than December 2011 indicating improvement in consumer spending. Passenger traffic at Southwest Florida International airport in January 2013 was up seven percent from January 2012. Collier County’s tourism activity was strong with January 2013 tourism tax revenues increasing to $2,057,493, an eight-percent increase over January 2012. Collier County issued 110 single-family building permits in February 2013, up from 58 in February 2012. Collier County’s seasonally-adjusted unemployment rate decreased to 7.8 percent in January 2013 compared to 7.9 percent in December 2012 and 8.9 percent in January 2012, with an increase of 592 persons employed.
All good news for the overall health of the SW Florida economy.
It’s our birthday: Florida turns 500 this month
It’s Florida’s birthday or at least the birthday of its name. Ponce de León, during the April, 1513, became the first documented European to arrive anywhere in the current United States of America. “This week marks an historic anniversary for Florida and the entire United States of America,” Gov. Rick Scott said in a release. “This special anniversary is an opportunity to share Florida’s unique story and reflect on the people, places and events that made Florida the dynamic state it is today.” As part of his drive to create jobs, Scott added an invitation for “more people to come to Florida to contribute to the overall economic vitality of our state.”
Summertime in Naples – Oh Yeah
Don’t forget to keep an eye on real estate in Naples over the summer months. Just because most of the snowbirds have headed north doesn’t mean that everything is quiet. Europeans arrive for summer holiday and snowbirds track new listings electronically. Summer is a great time to visit. The beaches, streets and restaurants are all easily accessible and we just love it here in the summer!
All the best to you,
Nan Goebel, PA and Mark Goebel, PA
Coldwell Banker Previews International
cell 239-595-3920 or 239.595.3921
fax 239-236-1468
www.naplesbestaddresses.com
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