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National Market Conditions
2017 3rd Quarter Market Report: Home Sales and Prices Hit a Wall

The 3rd quarter of 2017 ended with not much of a change from the 2nd quarter. Home sales are down slightly and home prices continue to rise with median home prices up 4.2% year over year, but down from the second quarter's 6.2% increase. The primary reason for the slow-down in sales is the limited number of homes for sale, higher prices and less buyers being able to afford to buy a home.

The most notable change in the 2nd quarter was a shift in the amount of buyer activity declining 16% from last quarter. Additionally we found a significant change in the amount of price appreciation. Although 91% of the markets reported price appreciation there was an 11% shift from those markets reporting 5-10% appreciation and over 10% appreciation to those markets reporting under 5% appreciation.

According the National association of Realtors (NAR) existing home prices were up 4.2% over last year; the inventory of unsold homes is at a 4.2 month supply and 48% of all homes were sold in under one month. Still home sales dropped overall due to the low inventory of homes for sale.

The data in this report is generated primarily from our survey of HouseHunt.com and MoveUp.com exclusive member real estate agents across the United States. This grass roots approach to studying the housing market gives us a thorough look at where the real estate market is through the eyes and perspective of the local real estate agents who are living and working in the trenches of each community.

Buyer and Seller Activity
The trend in buyer activity is significantly higher than seller activity, however there was a definite downward trend in the number of markets continuing to show increasing buyer activity in the 3rd quarter. Our Realtors reported increasing buyer activity in 73% of the markets - down 16% from last quarter, but up 7% compared to last year. Seller activity was increasing in 49% of the markets in the 3rd quarter which was no change from the 2nd quarter, but up 9% over last year.

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Winter 2018 Market Update
Now is the best time to buy, sellers are motivated, interest rates have been favorable, and there’s a good supply of homes to choose from.
Average Sold Home Price: $750,000

Average Time on Market: More than 120 days

Market Trend: No Change

Buyer's or Seller's Market: More buyers than sellers

Multiple Offers? No

Greatest Activity: Repeat Buyers

Best reason to buy or sell: Other

Housing Hot Spots: Hammock Isles, Avellino Isles, Bellerive, Chardonnay, Clubside Reserve, Concord, Erin Lke, Fountainhead, Glen Lake Estates, Laguna Royale, Lalique, Montelena, Regency Reserve, San Miguel, San Rafael, Silver Oakes, Sonoma Lake, Terracina, Terra Lago, Tra Vigne, Tuscany, Valley Oak, Venezi Grande, Villa Verona, Villa Vistana, Vintage Reserve, Vista Pointe, Wedgewood

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Carolyn Starns and Billie Dalesio-Faccinto
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Mortgage Rates for Feb 21st, 2018
30 year fixed rate: 4.25%
15 year fixed rate: 3.66%
30 year jumbo rate: 4.40%
15 year jumbo rate: 4.12%
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Real Estate Professional, Carolyn Starns and Billie Dalesio-Faccinto Carolyn Starns and Billie Dalesio-Faccinto
Downing-Frye Realty, Inc.
Specializing in Naples - The Vineyards Real Estate
3411 Tamiami Trail N. - Suite 100
Naples, Florida 34103
Email Me | Receive New Listings by Email
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(Because current market conditions can change rapidly in any given marketplace,
please check with Carolyn Starns and Billie Dalesio-Faccinto for current Naples - The Vineyards, FL market conditions before acting on this information.)
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