By Jay Richter
Real
Estate customers are in the locker room. Now it’s the commentator’s turn. What
just happened? What plays are working?
Okay,
let’s take a closer look and focus on the second quarter. Overall, sales remain
strong and inventory continues to diminish.
Sanibel
had some big plays - $10 million sales (two over $4 million on the Gulf). John
R. Wood Realtors recorded the largest bayfront sales in 2 ½ years.
The
go-to subdivision was the Dunes with eight sales. For Sanibel condos, sales
prices under $800,000 lit up the scoreboard, up 48 percent over the second
quarter last year. The number of Sanibel condo units that sold is the best in
seven years.
Captiva
residential sales essentially are tied with last year, but condominium sales
essentially are tied with last year, but condominium sales in South Seas
achieved their best performance since 2005.
Fort
Myers shows a positive average price increase of 12.1 percent, which ranked it
No. 1 in the top 12 cities where the home prices have risen the most. (Jan.12
Kiplingers Report)
Wood’s
brand in Naples reported five consecutive years of increases in second quarter
sales in the MLS of Bonita-Naples. Sales of properties priced above $1,000,000
remained strong with 309 closings in just the second quarter, up 12 percent
over last year.
The
Wall Street Journal reported in May: “If you’re thinking of buying a second
home in the next five years, this might be your best opportunity.”
In Southwest
Florida, more and more neighborhoods and condo complexes are achieving a
balanced market (a one-year supply), with a growing number moving into a
shortage. Nationally, USA Today reported on May 25 that the number of homes in
April hit a 6.6 month supply, down from 9.1 a year ago.
Stable
prices (for now, at least) along with low mortgages rates create a favorable
environment for the astute buyer. Both buyers and sellers should seek specific
information from real estate professionals on changing market conditions in
areas which they have an interest.
Sanibel-Captiva Islander
(August 3, 2012)
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