I wanted to take a few moments to review the attached chart of Residential Sold Listings by Month as well as what we are seeing "on the ground" in Naples. The information that is contained in chart above is for single family homes that closed at or above one million dollars. The reason that we are referencing this price point is that historically this price point is one of the leading edges. The clients that are counter cyclical lead the rest of the market.
As you can see the first thing that stands out is that we have a very seasonal cycle, obviously because of our sensational winter weather. The uptick in closed sales generally begins in mid-January building to April or May, then slows down as the temperature rises and all of our winter residents return to the north for the summer. The great news is the trend line in closed sales from 2009 to 2010 is trending in a positive direction. Looking at the 2009 closed sales our closed monthly sales peaked in late April at approximately 54 homes. Looking at 2010, our closed monthly sales peaked in April with a volume of approximately 87 homes. Fast forwarding to this year our early season numbers are looking strong and are leading us to have a bullish outlook for 2011 in the home sector.
In speaking with our clients, we are seeing a common thread in regards to their home buying outlook. Many of our clients that are purchasing now have been holding off their decision for over five years. They have been renting or living in a condos and making due until they felt that the market conditions are right. Now with the attractive interest rates, value in the market, and desire to have a home in Naples has become a perfect time for them to purchase their Naples getaway. This is why we are seeing the positive trending in the closed sales and are expecting the positive trend to continue.
If you are considering purchasing a home in Naples give us a call we would be happy to assist you.
V.K. [Mel] Melhado PA
Fine Home Specialist
Preview Naples Properties, LLC