What’s happening in Real Estate?

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

March 2nd 

  • Dr. Seuss’ The Lorax
  • Project X (2012)
  • Tim and Eric’s Billion Dollar Movie 
  • Black Butterflies (2012)
  • Last Days Here
  • Snowtown
  • Boy (2012)

March 9th 

  • 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

March 12th

  • Being Flynn

March 16th 

  • 21 Jump Street
  • Jeff Who Lives at Home
  • Casa de Mi Padre
  • The Kid with a Bike 
  • Seeking Justice
  • The FP

March 23rd

  • The Hunger Games
  • The Raid: Redemption
  • The Deep Blue Sea
  • Detachment
  • Brake

March 30th 

  • Wrath of the Titans
  • Bully
  • Goon
  • Mirror Mirror 

About yournapleshome

Karen is originally from Cape May County, New Jersey but considers herself a Floridian due to the many years she has resided in this sunny state! She has two children, Kimberly and Jennifer. Kimberly graduated form the University of Florida in 2000 and resides in Naples with her husband and two children. She works in education . Jennifer graduated from the University of Florida in 2006 and resides with her husband in Raleigh, North Carolina. She currently works for the Sweatlock Team as a marketing executive. The Sweatlock Team provides top-notch personable and professional real estate services, custom marketing for listings, efficient and honest service, fair representation, and a team that is ready to work for you! All combined with great expertise and impeccable service- a combination that can't be beat! Our clients are clients for life.
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