The Gold Blog

The Naples real estate market statistics for May 2016 remains encouraging for buyers and sellers.  One notable statistic is the rise of inventory on both single family homes and condominiums (27% and 51% respectively) from a year ago.  This increase should allow for buyers to have more options and not be as aggressive with offers.  

The NABOR® May 2016 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® May 2016 sales statistics are presented in chart format, including these overall (single-family and condominium) findings: 

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MAY 2016

MAY 2015

CHANGE

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FHA houseIn the past, FHA financing rules became strict on the condo markets.  FHA financing shrank over 400% over the years due its cumbersome guidelines, and association boards became reluctant to file for recertification.  With FHA financing being sometimes the only choice of financing for young, first-time buyers, FHA's loosing of its guidelines would open the door for homeownership to these individuals.  Naples has a large condo market that could benefit from these proposed changes.  Some of the changes include the return of spot loans, an end to prohibitions against transfer fees, relaxation of strict limits on commercial space in condo properties, and potential lift of the 50% owner-occupant rule.

Should the President Obama's administration approve the

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GraphUpThe median closed home price per NABOR statistics rose from $240,000 to $270,000 from 2013 to 2014.  This primarily is in the home prices of $500,000 and under.  Many of our cold weathered northern clients are searching for their retirement home here in Naples and finding that prices are hiking up faster than they can visit.  Don’t let another year of 10%-15% appreciation slip by, call our office today and begin your active search!

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