For the calendar month ended November 30, 2006, the Naples home market continued to show some signs of stabilization.
Sales Volume:
During November a total of 150 homes were closed, which is about 50% of the number of homes sold last November (302). The number of homes closed did increase over the previous month by 6 homes. Volume of sales still remains relatively low.
Median Price:
The median price paid for a single family home in Naples during November was $437,000, which is about $33,000 less than last year’s median price of $470,000. At the same time the median price has risen from October by about $44,500. The median price for November, in addition, was higher than the months of September and August. This is a positive sign towards stabilization.
Average Price:
The average price paid in November was $790,128 versus last year’s average price of $706,935, obviously, significantly higher. The average price paid also was improved over the preceding 3 months.
Average Days on Market:
The average days on market for closed sales in November were 130 days. This represents an increase from last year’s 57 days. The average days on market for the previous three months ranged from 102 to 115 days.
Pending Sales:
In November a total of 165 homes had offers, negotiated and accepted. During the previous month, 168 homes were pended. Considering the number of days in November (30 days) – the number of pending sales although lower that daily volume is higher. The median price was $489,000, the average price of $990,839 and the average days on market of 134 days. These factors also give the appearance of the stabilization taking place within the Naples area.
These statistics were obtained from the SunshineMLS and do not include manufactured or mobile homes nor Marco Island properties.
Please contact Glenn Ginsburg, your Naples buyer agent, if you are considering purchasing a home in the Naples area.
Your questions and/or comments are encouraged.