The real estate market in the Naples area is persistent recovery for the past few months. Months after months, the reports and statistics confirm the trend we started to see in 2011.
Confidence in the real estate market in the Naples area is back!
Pending sales increased 10% overall in May 2012 compared to May 2011.
In many sectors the inventory is at levels seen in 2003 or 2004!
Buyers should be aware that properties in the best location are leaving the market pretty fast.
Multiple-bid situations are more and more frequent and (still) unrealistic buyers with low-ball offers are losing deals. Here are other main points of the report:
- Inventory down by almost 1,000 units in the last three months.
- Overall median closed price increased 8 %from $175,000 to $189,000 for the 12-month period ending May 2012.
- Overall closed sales increased 15 %in the $500,000 to $ 1 million category.
- Overall pending sales in the Naples Beach area increased 15 %.
- Pending sales activity in the $2 million plus category is up 50 %.
View the complete statistics...
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