What Are Market Conditions in Naples Like?
We’re hoping to see an increase in inventory, as there are many buyers in the market looking for the perfect home. Current inventory is sitting at 4,214 active listings (not including vacant land). This number has crept up as the season approaches. Indeed, conditions are ripe for getting top dollar for your home in a short amount of time.
Here is a breakdown of the sales statistics from The NABOR® October 2014 Report:
• Overall median closed price increased 13 percent from $235,000 in the 12-months ending October 2013 to $265,000 in the 12-months ending October 2014.
•Overall pending sales increased 9 percent from 839 in October 2013 compared to 911 in October 2014.
•Pending sales for condominiums in the $1 million-$2 million category increased 211 percent from 9 in October 2013 compared to 28 in October 2014.
•Overall closed sales decreased 2 percent from 9,912 in the 12-months ending 2013 to 9,667 in the 12-months ending 2014.
•Closed sales for single family homes in the $2 million and above category increased 31 percent from 210 in the 12-months ending October 2013 to 275 in the 12-month ending 2014.
•Median closed price increased 13 percent from $235,000 in the 12-months ending October 2013 to $265,000 in the 12-months ending October 2014.
•Overall median closed price for homes in the $1 million-$2 million and $2 million and above categories both decreased 3 percent.
•Overall inventory decreased 10 percent from 4,376 homes in October 2013 compared to 3,939 homes in October 2014.
•Average days on market for October is at 73.
As always, The Saad Team is here to help you with all of your real estate needs. If you’re thinking about selling right now, give us a call at (239) 595-8900! We would love to hear from you!