June 17, 2011

Naples Real Estate - The Upswing Continues - Inventory Decreases 14%. Strong Sales Emerging For Summer

The Naples residential real estate market continues its upswing. That is what reveals the latest sales report released by NABOR (Naples Board Association of Realtors) one hour ago.
The total inventory decreased 14% in May 2011 compared to May 2010:
  • 7,705 in May 2011.
  • 9,006 in May 2010.
The median closed price for single-family home increased 6% from $199,000 to $210,000 for the 12-month period ending in May 2011 compared to the same period ending in May 2010.
Overall pending sales are up 8% in May 2011 compared to the same month in 2010:
  • 955 contracts in May 2011.
  • 887 contracts in May 2010.
This increase of sales - which is noticeable in the regular sales - puts a trend for emerging strong Summer sales in the Naples area (Naples, Bonita Springs & Estero).
The sales for condominiums in a price's range from $1 Million to $2 Million were up 164% for the 12-month period ending in May 2011 compared to 2010.
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