Homes for Sale in Naples Florida
The homes for sale in Naples continue to show signs of improvement. While still a buyer’s market, the homes available for sale are declining as well as the months of inventory declining.
The month of February started with 3814 homes available for sale in the Naples area. In a year over year comparison it is a decline of 1538 from last February’s 5352. [Read more...]
The Naples condos market is not as strong a buyer’s market as last year both the number of condos listed for sale and months of inventory is lower than last year. With the reduction of condos for sale and the lower months of inventory, it still remains a strong buyers’ market.
As of the first of January there were a total of 3988 condos for sale. At the start of January 2009 a total of 4939 condos were listed for sale. This represents a reduction of 951 condos or roughly 19 percent. [Read more...]
The real estate market in Naples for single family homes is not as strong a buyer’s market as last year both the number of homes listed for sale and months of inventory is lower than last year. Buyers and sellers need to monitor the months of inventory to determine how favorable or not favorable the market is for them.
As of the first of January there were a total of 3,630 homes for sale. At the start of January 2009 a total of 5,296 homes were listed for sale. This represents a reduction of 1,666 homes or roughly 32 percent. [Read more...]
Naples Florida homes for sale at the beginning of October was 3698 last year. There were 5244 homes for sale in September. This represents a reduction in the total number of homes for sale by 1546 or about 30 percent,. During the month of August. There were a total of 3777 homes for sale. The 3698 available homes for sale represents a decrease of approximately 2%.
The graph below shows shows the active number of listings for the period January 2008 to September 2009.
Naples homes for sale showing 2008 and 2009
The composition by type of listing is shown below in the pie chart.
October composition of homes for sale in the Naples area
The breakdown by type for the above:
Traditional - 2814
Potential short sales - 760.
Foreclosed - 124.
The breakdown by type of potential real estate transaction for August is shown below in the pie chart.
September composition of homes for sale in the Naples area
The breakdown by type for the above:
Traditional 2867.
Potential short sales 773.
Foreclosed 137
A factor, which supports an improvement in the Naples real estate market for single-family homes is the months of inventory. The current months of inventory is slightly below 12 months whereas in August. The months of inventory was likely above 12 months last year the number of months was 27. This represents a reduction in excess of 50 percent.
The line graph below reflects the months of inventory over the period of January 2008 two September 2009.
Months of inventory - homes for sale
During the one of October historically, there is a sick depth against increase in the number of new listings that come on the market. The question is will wield the number of active listings as well as the months of inventory available for sale. Continue to show declines.
The new listings for the month of August 2009 were 468 condos in the Naples real estate market. The number of condos listed in August 2008 was 513. The decline of new condo listings coming on the market condos was 9 percent. In August 2007, the new listings were 564, representing a drop of 96 condos or decline of 17 percent.
In July 2009 the new listings were 557.
Of the 468 condos listed approximately 20 percent were potential short sales, 12 percent were foreclosed (bank owned), and the remaining 68 percent were traditional listings.
Median list price for potential short sales was $129000, foreclosed properties were $86200, and traditional listings were $239500.
In the month of August 2009 the number of condos sold was 204. In August 2008 a total of 171 condos were sold. The year over year was 19 percent increase. In August 2007 a total of 122 condos were sold. The increase over 2007 was 82 condos or about a 67 percent.
Of the 204 condos sold, approximately 11 percent were approved short sales, 21 percent were foreclosures, and the traditional sales were 68 percent.
A graphic presentation for the composition of the closed sales is shown below.
Composition of sold condos in Naples for August 2009
The breakdowns of the median sold prices are discussed in the median sold price section below.
During August 2009 a total of 341 condos had an offer accepted by the seller. In August 2008, 184 condos had offers accepted. The increase from August 2009 represents an increase of 157 condos or about 85 percent.
In August 2007 a total of 110 condos were pending sale. The increase between August 2009 and August 2007 was 231 condos or about 210 percent.
The total number of condos pending sale in the Naples area as of the end of August 2009 was 4095. The graph below reflects the composition of these pending sales.
Composition of Total Pending Sales for Naples
During the month of August 2009, the median sold price of a condo in Naples was $163500. The median price is the sold price represents the middle value of the all sold prices within a stated range. The median sold price can vary from area to area within a local real estate market.
In August 2008, the median sold price was $216000. In the year over year comparison median sold price declined $52500 or roughly 24 percent.
In August 2007 the median sold price was $285000. In comparing August 2007 to August 2008 the price declined $121500 or about 43 percent.
Median sold price for approved short sales was $123900, foreclosed properties were $63600, and traditional listings were $218900.
The difference between the list price and sold price for approved sales was about 81 percent, foreclosed properties 95 percent, and traditional listings 90 percent.