Collier County: Experiencing Home Sales Fall
Based on reports, #Naples-Marco Island was considered to be the only place in the United States that experienced a decrement in both townhouse/condo and single-family closed sales from the 2014-2015.
Based on findings and what the Florida Realtors have observed within a span of two years, single-family closed sales experienced a decrease of 1.3%. On the other hand, condo and town houses sales had a 1.2% sales drop observed by economists.
Likewise, #Collier County‘s sales were the complete opposite of what the state is experiencing in an overall scale. Wherein, the closed sales managed to increase by up to 12.4%, with 244,543, it became 274,769– that’s for family homes alone. As for townhouse-condo sales, there has been a remarkable increase of 6.1%, – 108,354 to 114,969.
There has been a contrast with Cape Coral-Fort Myers. Wherein, the family homes managed to close their sales and have enjoyed an increase of 9.7% from 12,427, it went up and became 13,635. The town house-condo sales also increased by 2.3%- from 6,656, it became 6,716.
Despite this increase, there has been a sales delay in the Collier County that has been evaluated a month ago by the Naple’s Area Board of Realtors. NABOR’s ex president, Mike Hughes, noted that this negative impact was probably the result of a number of factors, such as the inclement weather and worsening in the stock market. Both of which having an impact on sales.
Even though the state’s performance was quite strong for the past year, Bran O’Connor, the chief economist of Florida Realtors’ said that the year-over-year growth that transpired in 2015 was more laid down than what happened in the past few years. This can be an indication of a more stabilized rates of growth in the years to come.
Though, in order to make that possible, the work inventory should keep on striving harder and push up the prices all throughout Florida.
In Collier County allow, supply shortfalls are slowly easing down as home sellers benefit from the sudden increase prices, as well as listing their homes.
As of the moment, the home prices in Naples-Marco Island are the highest in the state, and the Cape Coral-Fort Myers are near the Florida Median. As inventories continue to drop, though – prices for Naples, Florida real estate are going to skyrocket soon, according to Equity Realty of Naples, FL.
For the state of Florida, the single-family home prices increased by 10.1%, from 178,000 it became 196,000. Likewise, even the townhouses condos enjoyed a 7.1% increase of 140,000 to 150,000 last year.
Lastly, in Cape-Coral-Fort Myers, there was a 13% increase in single-family homes sold from $189,000 to $213,000. On the other hand, townhouses enjoyed a 7.4% increase 2 years ago.