According to a report in Florida Realtor citing CoreLogic work “Home prices nationwide, including distressed sales, increased on a year-over-year basis by 9.7 percent in January year-to-year. It’s the biggest increase since April 2006, and the eleventh consecutive monthly increase in national home prices.” Great news to be sure and oh how we waited for these headlines in 2008-2011.
But there is a catch. The future, as my friend is fond of saying, is unevenly distributed. Some areas are booming some are still stuck. Let’s take a quick look at the local Naples, Florida markets and see what prices have done over the last year. Naples is doing pretty darn good thank you.
Be careful of annual trends! There are quite a few things to consider when viewing “average” numbers and trends – here are just a few:
1) Keep in mind these are not “straight line” trends. There is A LOT of movement – Up and Down – within the twelve month period in each of these areas. For example a beginning and ending month’s average price in a year cycle may be very different, while averaging all up and down monthly movements tends to smooth the curve.
2) Please also remember we have “seasonality” impacts in the trends as some areas were “red hot” during season but less so in the summer months.
3) These areas have a diversity of properties so a run on lower priced properties or a run on higher priced properties (all good things) will move the averages.
4) Trend lines DO NOT necessarily predict future prices. When looking at the month to month data in each area over the last twelve months there is a lot of variation. Do not use these trends to predict future results.
In these figures below we give you the Sunshine MLS trend line – up, down, flat as well as some beginning and ending data. Let’s take a look at these areas over the last twelve months*:
All Naples – Flat, maintaining $390,000.
Port Royal – Up Slightly – $3,500,000 to $4,000,000.
Olde Naples – Up – $1,100,000 to $1,400,000.
Aqualane Shores – Flat trend, but moved down $2,100,000 to $1,500,000+
Royal Harbor – Big spike during the year but ending around $500,000 average
Coquina Sands – Up, starting at under $400,000 to now over $800,000.
Windstar on Naples Bay – Flat, starting at $390,000 and finishing around $410,000.
*Source: Sunshine MLS for the All Naples Area, broken out by development area as of March 6, 2013. Average prices shown from beginning to end of twelve month period.
Questions? You bet. Please contact us for more details on each area. heck with us for specifics on each 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