Ed Gongola - Naples Bonita Springs Estero Real Est

Market Report – February 2009 for Naples, Bonita, Estero Market Areas

2009-03-14T11:25:00.003-04:00

Click here to download the latest February market reports.

January 2009 Naples, Bonita Springs and Estero Market Reports

2009-02-12T15:04:00.002-05:00

Closed Sales

 Closed sales units are up less than 2% over January 2008. Volume is down 46%, reflecting the large number

of closings under $250,000.

 Median Sales Price for January is down 51% from January 2008.

 63% of closed units were priced under $250,000.

Pended Sales

 Pended sales units for January are up 65.5% over January 2008.

 Properties priced under $250,000 comprised 65% of January pendings.

Listings

 Number of new listings taken in January are down 9% over January 2008.

 Active listing inventory on February 1, 2009 was 13,944 (6,776 condominiums and 7,168 single family homes).

This represents approximately a 10% decrease from the same period 2008.

This report represents the combined Naples, Bonita Springs, Estero market. Numbers may vary among neighborhoods so be sure

to research individual market segments carefully.

Disclaimer: All information from Sunshine MLS. Accuracy is deemed correct but not warranted.

Closed Sales

Closed sales units in January are approximately even with January 2008, showing less than a 2% increase. The 379 closed sales approximate the historical norm for January, with the exception of the unprecedented years 2004, 2005 and 2006. Volume of closed sales continued its downward trend with this number the lowest since 2002.

Amounts

Absorption of inventory priced below $250,000 continues, with this segment accounting for 63% of January closings. Since many short sales and foreclosures fall into this price category, we expect this trend to continue throughout the year. Banks (in most, though not all, cases) are tending to be very realistic sellers and pricing these properties for quick sales. Since the price category accounts for 35% of currently available inventory, the recovery of the overall market is positively impacted by a reduction in this inventory.

Average Sales price dropped 27.5% during the period from February 2008 through January 2009. The current average of $353,342 is the lowest since January 2002.
It is important to note that with the exception of the price segment under $250,000, all other segments are showing stabilizationor in some cases, even increases in average sales price.

Pending Sales

Pended sales for January are up 65% and excepting the peak years of 2004 and 2005 are the highest January in the nine

year period from January 2001 through January 2009.
Pended sales were also significantly weighted in the under $250,000 category. However, a recent surge in activity for
properties priced above $2,000,000 indicates that we may see significant year-over-year increases in this segment in the
near future. This price range was relatively quiet during 2008, with current interest driven by the fact that buyers recognize
the extraordinary opportunity to acquire excellent value at current prices.

Listings

The number of new listings taken in January represents the lowest number for January since 2005. Available inventory has also shrunk by 10% when compared with January 2008, and the only price categories to show increases in the number of new listings taken in January are the under $250,000
segment and the $2,000,000 - $5,000,000 segment. All others showed decreases.

Summary

There are so many dynamics contributing to the national and local real estate market conditions at this time that it is hard for buyers and sellers to sort through the facts and make an informed decision. Real estate is a local business, and Naples, Bonita Springs and Estero are different from most of the markets that are drawing negative media attention. We have a unique geography, climate and lifestyle. We have consistently been one of the fastest growing areas in the country, and despite the
recent slow-down, continue to draw record numbers of discriminating buyers, many of whom could
choose to live anywhere in the world. Mortgage rates are at or near record lows, and mortgage money
is readily available for qualified buyers. The supply of active inventory is predicted to continue

to decline, and prices should continue to stabilize, and even increase, in more and more areas.
Outstanding purchase opportunities such as we are seeing now will definitely not last forever!
Contact your John R. Wood Realtors agent and get the market facts relevant to your personal buying or selling decision.

Bonita, Estero, Naples Real Estate Market Reports

2009-01-26T16:30:00.018-05:00

MARKET REPORT 2008

NAPLES – BONITA SPRINGS – ESTERO MARKET AREA

CLOSED SALES

Total closed sales units in 2008 increased by 20% over 2007. This upward trend continued through the year with most months showing increases over prior year month. In fact, as you can see from the graph below, 2008 is very close to 2002, the year that preceded the run-up in units and volume experienced during 2003 through 2005. Volume for the year is down 9.6% and almost on par with 2003 volume, the third highest year during the nine year reporting history.

ANNUAL CLOSED SALES UNITS HISTORY

The highest number of closed sales occurred during May with 695 sales recorded, and the lowest number in January with 372. The unit growth was driven by the sale of properties priced under $250,000, with this segment posting a gain of 130% over prior year. Overall, active listing inventory was reduced by 7% during the year, and the number of new listings taken was the lowest since 2005.

ANNUAL NEW LISTINGS HISTORY

Inventory levels based on closed sales are down from approximately a 3.1 year supply in February 2008 to a 2.1 year supply on January 1, 2009. Absorption levels are increasing, while supply levels are decreasing in the overall market, creating an increasingly balanced situation in many market segments. This has already occurred in a number of areas which are currently showing a one year or less supply of product.

PENDED SALES

Pended sales are the best indicator of current market conditions. Commencing October 2005, pended sales began showing a significant decrease on a monthly basis when compared to same month, prior year. This decline continued, almost uninterrupted, for 28 months, until February 2008 when pended sales began posting increases over prior year. Although January and March 2008 were down slightly from prior year, all other months recorded increases. The month over prior year month increases ranged from 6% in April (the lowest monthly increase for the year) to 107% in September (the highest monthly increase in 2008). Actual fourth quarter increase was almost 68% over 2007 fourth quarter.

ANNUAL PENDED SALES UNITS HISTORY

The ratio of pended sales to new listings taken (on a monthly basis) was one pended sale for every 2.6 new listings at the end of December, vs. the high of one pended sale for every 6 new listings recorded in January 2007.

SUMMARY

The increases in both closed and pended sales throughout most of 2008 indicate that a steady and strengthening recovery is underway. The reduction in inventory, along with decreasing numbers of new properties coming on the market, should bode well for real estate activity in 2009. A key to the strength of the recovery lies with what happens in the market segment of properties priced above $2,000,000. This segment has been comparatively quiet during 2008, posting a 20% decline in sales units from 2007. Although not quantifiable at this point, activity in this segment has increased significantly over the past three weeks, based on the number of showing appointments scheduled. The next 30 days should indicate whether there will be a full recovery of this segment in 2009.
Prices have fallen in virtually every price segment and property type across the market. Existing median price is almost 25% below 2007, but we expect this to begin to move upward again in some areas where supply and demand have balanced. Be aware that some areas are still over supplied and will require further price adjustments. However, these are diminishing, and prudent buyers and sellers will insist on specific neighborhood and/or building information upon which to base a buying or pricing decision.
John R. Wood Realtors continues to be a market leader in today’s market. As the “Symbol of Local Knowledge” in real estate, we attribute our success to:

The delivery of timely, reliable information to the customer.

Well educated and informed agents who can communicate and interpret market indicators.

Highly targeted marketing designed to reach a maximum number of buyers and sellers.

This focus enabled us to sell more of the properties listed with our firm in 2008 than any other local broker, and achieve an enviable position at the top of the market.

November Market Reports For Naples, Bonita Springs & Estero

2008-12-22T14:34:00.002-05:00

The new market reports for November are out and here's the news for our Naples, Bonita Springs & Estero Real Estate Market. Below is a summary, but please "Click Here" to view the full pdf version of the report. Please feel free to contact me with any questions regarding properties for sale or if you would like to list your home in the Naples, Bonita Springs, Estero area.

CLOSED SALES
• YTD November closed sales units up 19% over same period 2007. Volume is down 9%.
• YTD closed sales under $250,000 continue to dominate the market, showing a 121% increase over same period 2007.
• Closed sales for the month of November are up 10% over November 2007.
• Median sales price is down 22.5% from November 2007.

PENDED SALES
• Pended sales in November are up 44% over prior year period.
• 64% of newly pended sales are represented by properties under $250,000.

LISTINGS
• New listings taken year-to-date November are down 6% over prior year.
• Active listing inventory on December 1, 2008 stands at 13,873 in the combined Naples, Bonita Springs, Estero markets (7,141
single family homes and 6,732 condominiums). This represents a 6% decrease from December 1, 2007.

This report represents the combined Naples, Bonita Springs, Estero market. Numbers may vary among various
areas so be sure to research individual market segments carefully.
Disclaimer: All information from Sunshine MLS. Accuracy is deemed correct but not warranted.

Naples, Bonita Springs, and Estero Real Estate Market Report.

2008-12-01T18:07:00.005-05:00

Attached are the October market stats for Naples, Bonita Springs, and Estero markets. The good news is that inventory is lower now than a year ago. The bad news is that inventory of single family homes and condominiums priced under $250,000 continues to increase, and is higher in 2008 than 2007. Since many foreclosures and short sales fall into this segment, it is likely that this will not change in the near term. Other than single family homes over $5 million, which also shows an increase, all other price segments have decreased from 2007 levels. Since October and November are typically the time of year when listings increase, it remains to be seen whether the pace of sales will also increase and extend this trend.

Also in the category of good news for the market is the ratio of pended sales to new listings taken. Year-to-date October 2007, there was one sale for every four new listings taken. In October 2008, that ratio has improved to one sale for every three new listings taken.

Excellent opportunities abound in the market and now is the time to take advantage of them. Be sure to ask John R. Wood agent Ed Gongola for specific information about communities you may be considering, or about your own community if you are thinking of selling.

Email me for a printable version of the report:

ed@edgongola.com

Eight Months Of Increased Pending Sales In The Naples Real Estate Market

2008-10-17T09:14:00.006-04:00

Good Morning. Just Got This Information And Wanted To Pass It On. It Is Great News For The Naples Real Estate Market! The Naples Area Board of REALTORS® Is Reporting Eight Months Of Increase In The Number Of Pending Home Sales. Please Read This Press Release Put Out By NABOR. Feel Free To Contact Me With Any Questions You Might Have On Real Estate In Naples, Bonita Springs or Estero Florida. Visit My Web Site At: http://naplesbonitaspringsesterorealestate.com For Current Listings And Community Information.

FOR IMMEDIATE RELEASE

Contacts: Arlene Carozza, NABOR, President, 239/877-7411

Marcia Albert, NABOR, Manager of Events & Marketing, 239/216-4148

EIGHT IS GREAT

Report Shows 106 Percent Increase in Overall Pending Sales

NAPLES, Fla.-October 16, 2008-For the eighth consecutive month, pending sales increased in the Naples area according to a report released by the Naples Area Board of REALTORS® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island).

“The greater Naples Area is seeing a double digit growth in all geographic areas in overall pending sales. The increase ranged from 47 percent in South Naples to as much as 244 percent in Central Naples” stated Brett Brown, Managing Broker of Miromar Realty of SW Florida.

According to Jo Carter, President of Jo Carter & Associates, “The average days on the market has decreased 17 percent for Single family homes, indicating that sales are continuing to increase.”

The report which provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges and geographic segmentation also includes an overall market summary. The statistics are presented in chart format, along with the following analysis:

 Overall pending home sales in the greater Naples Area, which includes Naples Beach, North Naples, Central Naples, South Naples, East Naples, Immokalee and Ave Maria, increased 106 percent, with 481 in September 2008 compared to 234 in September 2007.

 Overall pending home sales for properties less than $300,000 saw a 264 percent increase with 320 in September 2008 compared to 88 in September 2007.

 Overall home sales increased 50 percent with 361 in September 2008 compared to 240 in September 2007.

 Single-family pending home sales increased 173 percent overall, with 319 in September 2008 compared to 117 in September 2007; Pending sales of single-family properties of less than $300,000 were 202 in September 2008 compared to 27 in September 2007, a 648 percent increase.

 Single-family home sales increased 50 percent overall, with 209 in September 2008 compared to 139 in September 2007.

 Overall condo sales increased 50 percent, with 152 in September 2008 versus 101 sales in September 2007; and pending condo sales under $300,000 increased 93 percent with 118 in September 2008 compared to 61 in September 2007.

The $300,000 and below market has been leading the way and is now driving sales to higher priced properties. “Pending sales are up 22 percent in the $500k and above market from September 2007 to September 2008, and the numbers of homes sold are up as well” stated Tom Bringardner, President of Premier Properties.

“The activity in the higher priced properties demonstrates that the increases in the $500k and above market are now driving the sales” said John Steinwand, President of Naples Realty Services.

To view the entire September report, go to www.Naplesarea.com

The Naples Area Board of REALTORS® (NABOR) is an established organization (Chartered 1949) whose members have a positive and progressive impact on the Naples community. NABOR is a local board of REALTORS® and real estate professionals with a legacy of nearly 60 years serving 5,000 plus member-customers. NABOR is a member of the Florida Association of REALTORS® and the National Association of REALTORS®, which is the largest trade association in the United States with more than 1.3 million members and over 1,400 local boards of REALTORS® nationwide. NABOR is structured to provide programs and services to its membership through various committees and the NABOR Board of Directors, all of whose members are non-paid volunteers.

Click Here To View The Statistical Charts For This Report

Naples, Bonita Springs, Estero Florida Real Estate Market Report

2008-10-09T10:40:00.009-04:00

Here is a Report for September 2008 for Listed, Pending and Closed Sales For The Naples FL, Bonita Springs, FL and Estero FL Real Estate Markets. Please Contact Me If You Would Like Any Additional Information

This report represents the combined Naples, Bonita Springs, Estero market. Numbers may vary among various GEO codes so

be sure to research individual market segments carefully.

Disclaimer: All information from Sunshine MLS. Accuracy is deemed correct but not warranted.

CLOSED SALES

♦Closed units in September were up 40% over September 2007.

♦YTD Closed units up 16% over same period 2007. Volume down 8.5%

♦Median sales price YTD September down 20% from YTD September 2007. Average sales price down 21%

♦YTD sales under $500,000 represent 72% of all closed sales and continue to be the only price segment showing an increase over

prior year. Closed units under $250,000 are up 109% over YTD September 2007.

PENDED SALES

♦September pended sales units are up 107% over September 2007 and almost the same as September 2004 and September 2003.

Naples up 119% and Bonita/Estero up 67%.

♦Cummulative pended sales through September are up 25% over prior year.

♦Pended sales over $2 million were the same as September 2007 (13 sales). the entire over $1 million price category is slightly

ahead of September 2007 (38 sales September 2008 vs. 36 September 2007).

♦YTD pended sales over $2 million remain 38% behind the same period 2007. (337 pended YTD September 2007 vs. 244 in

2008.)

NEW LISTINGS

♦Number of new listings taken in September up 4% over September 2007.

♦Active listing inventory on October 1, 2008 stands at 13,212 in the combined Naples, Bonita Springs, Estero markets (6,937

single-family homs and 6,275 condominiums). This represents approximately a 3% decrease compared to inventory a year ago.

Largest inventories continue to be condominium and single-family homes in the under $500,000 price segments.

My New Real Estate Site, Featuring Shadow Wood and Bonita Bay

2008-10-04T15:57:00.002-04:00

Shadow Wood, and Bonita Bay Real Estate Listings are posted on my new Naples Bonita Springs, Estero real estate web site. Just go to http://www.naplesbonitaspringsesterorealestate.com and you can search for your new home.

Ed Gongola

Shadow Wood Country Club

2008-10-04T13:34:00.000-04:00

Ed here,

Just wanted to let you know that,

Shadow Wood Country Club, is
offering three championship golf courses, and has an exciting new golf membership offering!

The Ambassador Preview Membership Initiative will run through 2/28/09. Applicants who apply before this dateand commit to membership within 60 days of application, will receive a reduced initiation fee of *$35,000 (*non-refundable).

Please contact Ian Coleman, Membership Director,
or Chari Kazich, Assistant Membership Director at 239-992-6000 for complete details.

(Terms are subject to change without notice.)

Take Care,

Ed Gongola