Naples Market Recovery Lead by Luxury Market

The first sign of a recovery in the Naples Florida real estate market has shown itself. Pending Sales of residential properties listed above 2 million for the first 3 quarters of 2007 have exceeded the first 3 quarters of 2006:

Pending Sales 2mil+:
2006 = 250
2007 = 257
Gain = 3%
Volume = 900 million

Further analysis of median price for the market segment shows that it bottomed out in the 1st & 3rd quarters of 2005. With overall Naples inventory near 11,000, we may be looking at a market that will move from a buyer's market to a more balanced market in early 2008.

Reported by Joe Ballarino, President & Founder, Amerivest Realty.

Naples Season Sales Off 7.7%, Prices Down 10.6%

This morning I pulled year to date Naples, Florida statistics from Sunshine MLS (the local MLS system) to determine how the 2007 season compared to 2006. I compared numbers from January 1 to May 31 for each year and found the following:

Number of Pending Sales
2006: 2651
2007: 2448
DOWN 7.7%

Median Price Average:
2006: $443,300
2007: $396,440
DOWN 10.6%

So what does it mean? These numbers are no where near the poor pending numbers when comparing 2006 to 2005, a time where pending sales dropped 53.1%. Even better news is pricing, 2006 to 2005 had seen a gain in median prices by 27%, however we have only given 10.6% back.

This market rewards sellers who price their property correctly and severely penalizes those who don't. With residential inventory over 11,000 units, buyers can find great value if they do their homework.

Of course I recommend hiring a Realtor, our value is really apparent in a normal market like today.

Joe Ballarino
President & Founder
Amerivest Realty

David Cole Named Director of Business Development

Naples, Florida
Amerivest Realty is pleased to announce that David Cole has been named Director of Business Development.

David comes to Amerivest Realty after serving for 13 years as Broker/VP of Operations of a 6 office, 230 agent brokerage. "David possesses the experience and talent that Amerivest Realty required in order to continue the strong growth we have been experiencing" said Joe Ballarino, Founder & President.

When asked why he chose Amerivest Realty for the next step in his career, David responded "Amerivest Realty has the most advanced technology services in our market place. The leadership at Amerivest Realty also knows that a successful business must continually strive to improve their products and services and Amerivest Realty has done that year after year".

David started his real estate career in 1983, orginally from Norman, Oklahoma. He moved to Southwest Florida in 1988, working with Re/Max Realty Group as a sales associate, then opened his own Century 21 franchise serving as a Broker/Owner, before spending the last 13 years with VIP Realty Group. He also served as President of the Realtor Association of Greater Ft. Myers and the Beach.

"David's vast experience will not only help us in Southwest Florida, but in increasing our franchises throughout Florida and the rest of the country in the coming years" - Joe Ballarino.