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The past year in real estate differs from the boom of the not-so-distant past. We feel the implications of this boom market but much of the positive news is, somehow, suppressed or lost in the shuffle. Three of the most defining areas that provide a silver lining are as follows:

– The foreign buyers entering our marketplace;

– The sidelined baby boomers entering our marketplace;

– The continued strength of the high-end real estate market.

We hear news about the favorable currency exchange for our foreign counterparts. A recent Associated Press article found 7.3 percent of the sales in Florida were made by foreign buyers. Consider the trend for the Canadian dollar which has grown in value from five years ago where it was worth only 63 cents against the U.S. dollar and is now almost equivalent to the dollar. A similar trend can be found with the English pound which is worth well over $2 and the Euro is reported at almost $1.45.

Baby Boomers are entering retirement age and encompass an estimated population of 78 million. As we preview the weather reports across the country and receive welcoming calls from our friends and family up north, we can appreciate their desire to reside in our sunny winter weather in comparison to the frigid snow and ice up north.

Lastly, the high-end market continues to show signs of growth. When comparing closed sales for properties priced over $5 million in Naples, there is an increase in sales of over 29 percent. On Marco Island, the highest recorded sale price occurred in October 2007 for $9,000,000.

Another high-end area experiencing an increase in activity is the over $1 million market in Fiddler’s Creek. In the first 11 months of 2007 there was a total of five sales in the over $1,000,000 market. In just one month, December 2007, the same number of properties, five properties priced over $1,000,000 in Fiddler’s Creek, went pending (under contract) as were sold in the first 11 months of the year.

While inventory levels remain at higher than desired levels, continued sales and contracts slowly chip away at the properties available on the market. The properties depleted from inventory are most often the best value and most desirable properties. On Marco Island, at year end 2007, the total number of active listings, or properties on the market, decreased by 7.4 percent in comparison to year end 2006.

Buyers, today, have the opportunity to choose from a greater number of properties, than in previous years, but as the current market trend continues, the availability of homes will diminish along with the selection.

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Natalie Kirstein, MBA, Realtor, Premier Properties of Southwest Florida, Inc., direct (239) 784-0491, or e-mail NatalieK@premiermail.net. For the most comprehensive property search in Marco and Naples, reference www.MarcoLuxuryEstates.com.