Here are the statistics for May 2002 in Collier County versus May 2001
Summary:
$ Sales Volume up 16 %
Average Price up 18%
Single Building Permits up 23%
Total Permit Value up 49%
Average Permit Value up 21%
Total Deed Transactions down 2%

The Naples and Collier markets remain very strong.
(see the Naples Daily News Article below)
Doug

May numbers show rise in dollar volume, average price
Sunday, June 23, 2002
JOHN HENDERSON, jfhenderson@naplesnews.com
Sales of higher-end real estate in Collier County that some say have been lagging are showing continued signs of improvement. Figures from the Naples-based consulting firm Feasinomics indicate that even though there were fewer total real estate transactions recorded through deeds this May in Collier County compared to last May, the overall sales volume in dollars is up, as is the average price of a transaction. The real jump in numbers can be seen in single-family home permits. There were 269 single-family home permits issued in the county in May of 2001. That number increased to 330 in May of 2002, a 22.6 percent increase. Total permit value jumped from $42.8 million in May of 2001 to $63.7 million in May of this year. And the average permit value increased from $159,454 to $193,299, an increase of more than 21 percent. Michael Timmerman, the chief executive officer of Feasinomics, said big-ticket homes are starting to sell again. He said sales at this time are not at the same price point or pace they were in the record-setting year of 2000, but he said the signs clearly show that things are improving as this year progresses. "This trend (in higher-priced sales) is consistent through the beginning of the year," he said. "When you look at it percentage-wise, people are spending a little more money (on housing), but it's still at a lower pricing tier in the marketplace (than in 2000.). But it appears their confidence level in the market and economy in the past six months has improved. People's confidence as far as purchasing real estate is still high." Timmerman also said that with the softening of the stock market, people have a desire to put their money instead into real estate. "They are looking at real estate as an investment vehicle, as an alternative to putting money into the stock market." Joanne B. Novelli, the broker with Century 21 JB Novelli Internationale, said she is not surprised at increasing sales prices. "I individually do a lot of sales on Sanibel. Our land prices have skyrocketed," Novelli said. "Even lots that we were selling for $200,000 a year ago are now selling for $359,000. That overall jump, especially in new construction, is happening all over Southwest Florida, from what I can see. "A place that has been sort of sleepy for a long time, especially with land, is Cape Coral. It is hot as a pistol now. It's like a sleeping giant coming alive. We're experiencing great increases there (in pricing). You buy a lot for $20,000 and sell it a week later for $40,000." She said in this market, if a property is a good one and priced reasonably, it sells very fast. "I don't care if it is $200,000 or $2 million," she said. "I've been reading in the paper that the high-end market is in trouble. Not where I sit. High-end is in trouble in some condos on the beach. I don't want to name names, but they are the $1 million-and-up condos. You can't expect to make a $500,000 profit in a year (by flipping them)." She said buyers in that condo market are a little cautious right now. "The cautiousness is fueled by (the losses) in the stock market. But I think the baby boomer market is very, very strong. They are coming down and buying in Naples. They are buying in Sanibel. We have a commodity in some places that is becoming scarce. There is no more land on the water to build on any more. That's why the Cape (Coral) is interesting. "It was thought of before as a cheapie market. Now it is a lucrative market for some of those people. Naples has been strong and has always been a wealthy community. "Those people are not throwing themselves off bridges because of the market," she said. "They are buying and selling property like they always do, but perhaps not buying extra condos for investments as quickly as they did before." Bob Weldy is in the mortgage business. "I think positive things are happening how, but how long they will continue, I don't know. We had a good May and excellent June. It still looks like there is business out there." He said some people in recent weeks have closed on deals they were contemplating. He said they were coming back for a second time to look over the properties. "They were down here earlier and thought about it (purchasing) and said, 'Yeah, let's do it.'" Jackie May, who works for the Fifth Avenue office of Coldwell Banker McFadden & Sprowls, said she does not agree with those who have claimed that the very high-end product is not moving well in recent months. She said business is doing fine, particularly in the Port Royal market. "I think it's a very good market. A lot of people are looking and a lot of people are buying. Port Royal has held its own and always will. Port Royal properties always hold their own. I've not noticed any change."