Posted on Wednesday, January 30, 2013
There is no doubt a national real estate recovery is underway but watch those volumes. Most of the national real estate news is about price increase – something easily understood and helps us all feel good . We all like to estimate what our homes are worth and our real estate buyers and sellers are no different. Too often we look at local markets and just take a look at the price increase. But not so fast.
Volumes need a look. Why? No volume no business. Declining volumes may mean “look out below” rising volumes might mean “frothy” results. Sure the law of supply and demand is our favorite price driver and we certainly like the lower inventories in Naples, Florida these days but what are volumes doing?
For the last twelve months the volume trend is down. Hmmm. How can this be with our “recovering” market? Well we have burned off much of the foreclosed inventories and much of the well priced inventory is also gone. We may be down to sellers holding out for higher prices and buyers just aren’t buying as quickly. Realtors have you noticed you may be doing more driving around and less contract writing lately?
There is hope on the horizon however. Tourist season. In Naples, according to the Naples data in the Sunshine MLS we see a recent rise in sale volumes – and a significant rise. Much of the rise is our tourist season kicking in and the removal of some unknowns like “the cliff” (temporarily I am afraid) and the elections. Actual closed sales have picked up from about 600 per month to nearly 800 a month.
So what? Well if trends hold and supply stays tight we should see further price appreciation in Naples. On an anecdotal point it is clear to us the big commercial developers are on the prowl with land clearings and new advertising so they may see the same trend.
Good so far in Naples, Florida real estate – let’s hope these volumes keep climbing.
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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
NaplesBestAddresses.com
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