Real estate sales up in Naples, but down countywide
There are many aspects to consider when looking at today’s real estate market. When determining how Collier County real estate is doing there are The Bidder’s Brokers and Naples Area Board of Realtors (NABOR) to consider. Ross McIntosh created The Bidder’s Brokers because of the abundance of foreclosures and to assist buyers and investors in finding real estate bargains, including auctions. The Bidder’s Brokers also track monthly residential closings recorded by Collier County Appraiser’s office keeping the most up-to-date information available. Recently NABOR reported an increase in sales activity to be on the rise, but excluded Marco Island sales through MLS (multiple listing service), and sales by owners, builders, and developers. Showing there is a possible glimmer of hope on the horizon for buyers and sellers in Collier County.
With so many homes on the market, buyers and sellers are turning to realtors more often. Before sellers were more willing to sell their homes on their own, but because of today’s tough market, they are looking to attract more buyers and to price their homes correctly with the help of an agent. Bargain hunters are also looking to agents to help wade through the multiple listings to find the best deals. With so many deals out there it is difficult for the untrained eye to find a bargain. Ross McIntosh commented on the current situation by stating, “As the season goes on, things get better.”
Over the past two years sales have been up countywide without counting foreclosures. Single family home sales are up from 320 to 324 in 2007. According to NABOR, pending sales grew 106% and overall home sales have grown 46% for September. Mike Hughes, a vice president for Downing-Frye in Naples stated, “My numbers for the last couple of months have been exceeding all expectations on my end. My September pending sales were up 49% over last September. Last September I had 97 contracts. This year I had 145.” With all the economy is going through, Collier County seems to be doing well and it appears to be getting even better.