Current Status of Naples / Bonita Market – June 1st 2013

I am continually being asked what the current state of affairs is when it comes to our SW Florida (Naples / Bonita / Estero) market place. The national media continues to publish info indicating that our market place continues to take a dive. This information is either inaccurate or they are referring to areas different than Naples / Bonita / Estero.

Our company (Downing-Frye Realty) is the largest company in our market. As such, it would seem that our numbers would indicate a pretty accurate picture. In short, if we ignore the huge banner years of 2004 and 2005, 2012 was the best year in company history, not only in number of closed transactions but in transaction dollars.

But would that continue in to 2013? In a word, YES! As example, May 2013 is about 33% ahead of May 2012. Does that tell you something? Not only is the number of transactions way ahead of last year, inventory levels are noticeably reduced. The combination of the two will start to substantially affect average asking prices and therefore selling prices.

Also, unless you live here and can observe the amount of new construction, you wouldn’t believe how much new construction is going on.