Naples Area Mid-Priced Homes Surge 29 Percent
Pending Sales of All Single-Family Homes and Condos Increased
Release Date: Friday, February 17, 2012
- Pending sales: Increased 12% overall in the $300-$500 category, 12-month ending
- Closed Sales: Increased 13% overall in the $1M-$2M category and 53% in the $1M -$2M category JAN 2011-JAN 2012
- Median Closed Price: Stable 12-month ending
- Inventory: Decreased -19% overall from JAN 2011 to JAN 2011
- DOM: Decreased -10% overall in the $500K-$1M category
Sales of Existing Homes at Highest Level in Nearly Two Years
Existing-home sales rose in January, marking three gains in the past four months, while inventories continued to improve, according to the National Association of Realtors®.
Existing Home Sales which include, single-family homes, townhomes, condominiums and co-ops, increased to 4.3%
Total housing inventory at the end of January fell 0.4 percent to 2.31 million existing homes available for sale.
Total unsold listed inventory has trended down from a record 4.04 million in July 2007, and is 20.6 percent below a year ago.
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was a record low 3.92 percent in January, down from 3.96 percent in December; the rate was 4.76 percent in January 2011; recordkeeping began in 1971.
The national median existing-home price3 for all housing types was $154,700 in January, down 2.0 percent from January 2011. Distressed homes4 – foreclosures and short sales which sell at deep discounts – accounted for 35 percent of January sales (22 percent were foreclosures and 13 percent were short sales), up from 32 percent in December; they were 37 percent in January 2011.
All-cash sales were unchanged at 31 percent in January; they were 32 percent in January 2011. Investors account for the bulk of cash transactions.
Investors purchased 23 percent of homes in January, up from 21 percent in December; they were 23 percent in January 2011. First-time buyers rose to 33 percent of transactions in January from 31 percent in December; they were 29 percent in January 2011.
Single-family home sales rose 3.8 percent to a seasonally adjusted annual rate of 4.05 million in January from 3.90 million in December, and are 2.3 percent above the 3.96 million-unit pace a year ago. The median existing single-family home price was $154,400 in January, down 2.6 percent from January 2011.
Existing condominium and co-op sales increased 8.3 percent to a seasonally adjusted annual rate of 520,000 in January from 480,000 in December but are 10.3 percent lower than the 580,000-unit level in January 2011. The median existing condo price was $156,600 in January, up 2.0 percent from a year ago.
In the South, existing-home sales rose 3.5 percent to an annual level of 1.76 million in January but are unchanged from a year ago. The median price in the South was $134,800, which is 0.3 percent below January 2011.
Source: Business Week, National Association of Realtors
MARCH 2012 Movie Releases
- Dr. Seuss’ The Lorax
- Project X (2012)
- Tim and Eric’s Billion Dollar Movie
- Black Butterflies (2012)
- Last Days Here
- Boy (2012)
- John Carter
- Salmon Fishing in the Yemen
- Silent House (2012)
- Jiro Dreams of Sushi
- Footnote (2012)
- The Decoy Bride
- Friends with Kids (2012)
- The Best Exotic Marigold Hotel
- Sound of Noise
- Being Flynn
- 21 Jump Street
- Jeff Who Lives at Home
- Casa de Mi Padre
- The Kid with a Bike
- Seeking Justice
- The FP
- The Hunger Games
- The Raid: Redemption
- The Deep Blue Sea
- Wrath of the Titans
- Mirror Mirror