In Naples, Florida 2012 brought a steady increase in real estate prices – something readers of this blog expected with decreasing inventories and steady volumes. According to the Sunshine MLS for the All Naples Area 2012 average prices started off somewhere around $325,000 and rose to something like $400,000 – a 23% increase in average prices.
On the national scene we saw price increases as well, but not as robust as Naples. Florida Realtor and CoreLogic reported “a 7.5 percent increase in 2012 – the largest home price increase since 2006.” (http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=1&id=285673).
What will future prices do? Ah isn’t that always the question? Well here at Naples Best Addresses we feel pretty good about the future Naples real estate market but there are a few things to watch out for. Shadow inventories and/or new residential projects will increase supply and work as a downdraft to prices. Expect the big residential projects to start hitting their stride in mid 2014. As long as supply remains tight and volumes remain or increase we hope to see further price increases.
The national scene is much the same. According to the same study “In 2013, CoreLogic projects home prices to rise 6 percent due to greater affordability fueling steady demand, a lower level of real estate owned (REO) sales and a low inventory of unsold homes.”
A brighter picture indeed. Remember to work with a good local Realtor to really understand your local market and the markets within markets in your area. For National And Naples Fl real estate trends see our YouTube channel http://www.youtube.com/user/naplesbestaddresses?feature=results_main .. or register at http://NaplesBestAddresses.com.
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 Facebook: NaplesBestAddresses Youtube http://www.youtube.com/user/naplesbestaddresses?feature=results_main