Encouraging Real Estate news in Naples Florida
The Naples Board released year over year data. I know there is still a lot of doom and gloom out there, however, we have had a good year in our office and it feels in our market that prices have bottomed out ( given our deep decline in the past couple years). Our market is blessed with international demand as well as the american market since south Florida is the only tropical piece of real estate in the mainland and a lot of international visitors fall in love with our tropical beauty and wonderful lifestyle. I think we will be one of the earlier markets to recover in the U.S.
NAPLES ... SALES SURGE
Report Shows Inventory Declines 14 Percent
NAPLES, Fla.-November 13, 2009-Overall pending home sales increased at least 100 percent in October 2009 compared to October 2008 in each price category under 2 million, according to a report released by the Naples Area Board of REALTORS® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island). The properties in the under $300,000 market have led the way in sales for the past few months. However, the market recovery is now working its way up to the higher priced properties. Pending sales in the $300,000 to $500,000 price segment have increased 150 percent from 48 contracts in October 2008 to 120 contracts in October 2009. The available inventory has declined 14 percent to 9,347 in October 2009 from 10,815 in October 2008. The October report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. The statistics are presented in chart format, along with the following analysis: Overall home sales under $300,000 saw a 42 percent increase with 555 closed sales in October 2009 compared to 392 closed sales in October 2008. Single-family pending sales increased 73 percent with 475 contracts in October 2009 compared to 274 contracts in October 2008. Condo sales increased 49 percent with 254 closed sales in October 2009 compared to 170 closed sales in October 2008.
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