May 26, 2017

Naples Real Estate - April Market Report Shows Strong End-of-Season Activity

NABOR (Naples Area Board of REALTORS®) just released today the market report for real estate in the Naples area for April 2017.
Here are the principal points of the report.
Overall inventory in April increased 8 percent to 5,920 homes in April 2017 from 5,480 homes in April 2016.
But at the same time:
 - Inventory decreased for the second consecutive month and prices continued to remain stable in April, setting into motion a burst in end-of-season sales for homes in the market's sweet spot - the $300,000 to $500,000 price category.
The April report showed a 41 percent increase in pending sales for homes in the $2 million and above price category.
Most notable was a remarkable 35 percent increase in the $2 million and above condominium inventory for April.
 - Homes that are unrealistically priced influenced April's average days on market, which showed an increase of 35 percent to 97 days in April 2017 from 72 days in April 2016.
Prices overall have remained relatively flat over the last year.
For the 902 homes that closed in April 2017, the majority (65.3 percent) were cash sales and only 34.7 percent were conventional (financed) sales, a statistic that signifies the seasonal wealth factor.
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