I am sure many of you have questions on what is going on in the real estate market in the Naples and Marco Island Florida areas. There has been a lot of negative news about the South Florida market over the last few years. We are finally seeing some positive news come out about our area.
Naples Sale Information
According to Realtor.com, Naples is number 3 in the country where the median list price has risen! It states that Naples sales prices have risen 23.41% this year compared to 2010! Check out the news report HERE. You will also notice that the majority of the cities are in the Florida area!
After reading this news article today, I decided to do a bit more research being I had quite a few questions regarding this article from friends. If close friends have these questions, I wonder how many other people have the same questions.
A closer look at the Naples Market based on SunshineMLS information.
As you can see by the chart above. The average sales price has stayed similar year over year, but you will see that it does jump in a few months. The months they have jumped are typically considered our “Season” in southwest Florida. You will notice in 2011, we did not have a big jump or fall as we see in 2010.
Another interesting fact that I found for properties in Naples is that the number of listings has decreased over the last year. You will notice below that the trend is a steady decline in the number of new listings coming on the market. Typically, professionals will state that this trend that we see reflects a market that is starting to recover.
Marco Island Sales and Information
Now you may ask, that is Naples, but I live on Marco Island. What do things look like on Marco Island? Below you will see comparisons of Quarter 3 2011 compared to Quarter 3 2010.
New Home Listings:
Single family home listings are down 21.58% while new condo listings are only down 3.85% this year.
Sold Home Information:
Single family home sales have increased this year over last and the average sale price is $610,518 in quarter 3 of 2011, which is 6.59% higher than 2010. The average sales prices of condos in quarter 3 of 2011 was $359,490. Only a 3.43% increase over this same time frame last year. The good news in this time frame with condos is that the number of sales Q3 of this year is over 100% more than last year!
This is better news than we have been seeing for Marco Island.
All in all it appears as though Naples is starting to recover a bit faster than Marco Island is, but in both markets we are starting to see a good trend. Share your thoughts below on what you think the market is doing by replying to this post and take the poll at the end of this post to share with other readers if you think this information shows signs of recovery.
