That is the question many are asking now and the latest edition of my Naples Area Market Report below reveals that Naples has either transitioned to a Sellers Market or very close to doing so. Once again, the Naples Real Estate Market performed strongly in February 2013 with overall Pending Sales up by 5% and overall Median Closed Sales Price up by 17%. But, the available inventory decreased once again by 13%. Overall, the Naples Real Estate Market has about 7 months of available inventory. With buyer demand high and available inventory reducing, such a scenario moves the market into one favoring the seller.

Visit my website at www.CriderOnLine.com and give me a call or email today to discuss your Naples Real Estate opportunities!!

LOWER INVENTORY MAY IMPACT HOUSING MARKET

Overall Inventory Decreased by 13%

Overall Pending Sales Increased by 5%

Overall Median Closed Sales Price Increased 17%

Naples, FL (March 2013) – The Naples Area housing market remains strong with increases in overall pending sales, overall closed sales, and overall median closed price for the 12-months ending February 2013. In addition, inventory decreased by 13 percent according to a report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island).

Local real estate experts note that sales may slow due to the low level of inventory.

“Changes in inventory at some point may become an issue,” stated Dr. Shelton Weeks, Department Chair of Economics & Finance at FGCU. “Continued declines in inventory will produce some upward pressure on prices.  However, as prices rise we should expect builders to bring more new units to the market which may slow the advance in prices.”

“The market has consistently improved since 2008 and is now very healthy.  However, we would not be surprised to see sales slow a little over the next six months due to a lack of inventory,” stated the President & CEO of a Naples Real Estate Broker.

A Vice President and General Manager of a Naples area Realty firm remarked, “Buyers right now should feel a sense of urgency. If a buyer finds a property that they like, they should not hesitate in their decision as reasonably priced properties are moving fast.”

The February 2013 sales statistics are presented in chart format on my website at http://CriderOnLine.com/market_report.php, with the following overall summary:

• The overall median closed price increased 17 percent from $180,000 at the end of February 2012 to $211,000 for the 12-month period ending February 2013.

• Overall pending sales increased 5 percent from 10,160 units to 10,629 units for the 12-month period ending February 2013. Overall pending sales increased 20 percent in the $300,000 to $500,000 category from 1,397 units to 1,677 units; 17 percent in the $500,000 to $1 million category, from 1,023 units to 1,193 units; increased 26 percent in the $1 million to $2 million category, from 422 units to 532 units; and increased 23 percent in the $2 million plus category, from 257 units to 315 units, respectively for the 12-month period ending February 2013.

• The average DOM (Days on the Market) increased overall from 162 days in February 2012 to 168 days in February 2013.

• Inventory decreased 13 percent from 7,888 units in February 2012 to 6,843 units in February 2013.

• Overall pending sales in the Naples coastal area increased 15 percent from 1,839 units to 2,119 units, and closed sales increased 16 percent, from 1,650 units to 1,906 units, for the 12-month period ending February 2013.

“Condos are another bright spot in the February real estate market,” said the President of a Naples real estate Broker. “The statistics show that pending and closed condo sales are up with an increase in the median closed price. In fact, pending sales in the over $300,000 market have increased an average of 32 percent.”

Fiddler’s Creek Main Entrance

Located off Collier Blvd. mid way between Naples and Marco Island, Fiddler’s Creek is a private, master-planned, residential offering unsurpassed elegance amongst a tropical setting. With a very low density level of 1.6 Florida golf homes per gross acre, the plan anticipates nearly 100 distinct neighborhoods upon completion. Committed to preserving the environment, Fiddler’s Creek is being planned to accommodate and enhance the natural beauty of Florida. Less than one-third of Fiddler’s Creek® will be developed for residential use, while the remainder of the land is dedicated primarily to nature reserves, lakes, parks, golf courses and recreational areas.

Fiddler’s Creek Golf Course View

Amenities offered at Fiddler’s Creek include a 54,000 square foot Club and Spa, Fitness Center, Resort Style Multi-Pool Swimming Complex, Tennis Courts, Restaurants, and the opportunity to join The Golf Club and The Tarpon Club.

For a complete overview of Fiddler’s Creek, please visit my website at http://CriderOnLine.com/fiddlers_creek.php

Recently, Fiddler’s Creek received several awards as follows:

• Golfweek Magazine named Fiddler’s Creek as one of the Top 100 Residential Golf Courses in the United States. This is the 8th consecutive year Fiddler’s Creek has been in the Top 100.
• The Collier Building Industry Association honored Fiddler’s Creek with 3 prestigious “Sand Dollar Awards” for Community of the Year, Best Special Event for Residents and Best Community Newsletter.
• Naples Daily News – Readers of the Daily News voted Fiddler’s Creek as Best Community to which a 2012 Champion Award was given.

Aubrey J. Ferrao, President and CEO of Fiddler’s Creek, LLC stated, “We are delighted to receive these prestigious awards which reflect our mission at Fiddler’s Creek of providing homeowners with a world-class resort lifestyle, including the finest championship golf, private beach and boating amenities, and an extensive social calendar”.

Several of my clients have purchased at Fiddler’s Creek and are thrilled to be residents as well as Club members.  Fiddler’s Creek is considered to be second to none when compared to other Naples area communities.  Please give me a call or email to discuss Fiddler’s Creek as well as all of your real estate needs in the Naples, FL area.

Fiddler’s Creek Gator Grille

Fiddler’s Creek Resort Pool

Fiddler’s Creek Dining Room