Newsletter DOWNING-FRYE

DAVID & ERIN BROWN, REALTORS®
DOWNING-FRYE REALTY, INC.
NOVEMBER 2014
Newsletter
DOWNING-FRYE: HIGH NUMBER OF CLOSINGS
“The 2014 Downing-Frye closings continue to add up,” said Mike Hughes, Vice
DAVID & ERIN BROWN
President and General Manager of Downing-Frye Realty. “We have now closed over 3,400
REALTORS Since 1986
transactional sides for the year. This is already Downing-Frye’s fifth best year ever for
©
We Know Naples. We Sell Naples.
David Cell: 239-272-8736
closings. The top year was 2005. In 2005, we closed 5,463 transactional sides. That is a
Erin Cell: 239-207-7376
record that ( in my opinion ) will never be broken by any real estate brokerage in southwest
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Florida. In 2004, we had 4,595 closings. Last year, 2013, we had 3,857 closings. The 2013
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Website: www.DavidandErin.com
closings set the record for closings in a “ non bubble year. In 2012, we closed 3,665
transactional sides. Our closed sales volume this year is now over $1.5 billion.”
DOWNING-FRYE REALTY INC.
180 9th Street S. (U.S. 41)
Naples, FL 34102
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Exceptional service
for over 50 years.
NAPLES: LIMITED INVENTORY CONTINUES
Inventory of existing homes decreased 9 percent
from 4,080 homes available in the 3rd quarter of
2013 to 3,702 homes in the 3rd quarter of 2014.
This tight inventory affected sales activity as
demonstrated by a 10 percent decrease in pending
sales from 2,548 in 3rd quarter 2013 to 2,304
pending sales in 3rd quarter 2014; and an 11
percent decrease in closed sales from 2,339 in 3rd
quarter 2013 to 2,093 closed sales in 3rd quarter
2014.
Pat Pitocchi, NABOR® president and corporate
trainer at Downing-Frye Realty said, “The market
report does a good job at showing us a big picture
view of how the resale market in Collier is behaving
in general. However, it does not report all new
homes sales, which appears to be a considerable
segment of the current market activity according
to reports from local brokers.”
Third quarter 2014 vs. third quarter 2013:
• Overall median closed price increased 13 percent.
• Overall inventory decreased 9 percent.
• Pending sales of single family homes over $2
million increased 26 percent.
• Pending sales of condominiums between $1
million and $2 million increased 29 percent.
BONITA /ESTERO: MEDIAN SALES PRICE UP
Activity in September 2014 vs. September 2013:
• Single family median sales price is up 1.5 percent
from $287,000 to $291,250.
• Condominium median sales price is up 13.7
percent from $190,000 to $216,000.
• Single family median days on the market
decreased 43.8 percent from 73 to 41 days.
• Condominium median days on the market
decreased by 8.6 percent from 70 to 64 days.
• Single family inventory of active listings
decreased by 51.2 percent from 817 to 399 listings
for a 4.4-month supply.
• Condominium inventory of active listings
decreased by 52.9 percent from 839 to 395 listings
for a 4.1-month supply.
FLORIDA: HOUSING REMAINS STRONG
Housing in Florida remains strong. The median
price of a single-family home in September was
unchanged at $180,000, while closed sales were
high compared with previous years.
Inflation, meanwhile, remains low largely because
of declines in gasoline prices. Florida’s sales tax
revenue, which has exceeded state economists’
expectations, indicates relatively strong sales in
2014. National retail sales, in contrast, were weak
in September, although strong for much of the year.
NATIONWIDE: SALES HOLDING STEADY
Pending home sales rose slightly in September
and are now above year-over-year levels for the
first time in 11 months, according to the National
Association of Realtors®.
Lawrence Yun, NAR chief economist, says
moderating price growth and sustained inventory
levels are keeping conditions favorable for buyers.
“Housing supply for existing homes was up in
September 6 percent from a year ago, which is
preventing prices from rising at the accelerated clip
seen earlier this year,” he said. “Additionally, the
current spectacularly low mortgage rates should
help more buyers reach the market.”
Sources: The Bonita Springs-Estero Assoc. of REALTORS®, Naples Area Board of REALTORS®, National Assoc. of REALTORS®, Florida REALTORS®
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