Listings:
The listings for the month of March 2009 were 938 homes in the Naples area. The number of homes listed in March 2008 was 761. The increase of new listings of homes was about 23 percent. In March 2007, the new listings were 971, representing a drop of 33 homes or decline of 3 percent.
In February 2009 the new listings were 848.
Of the 938 homes listed approximately 20 percent were potential short sales, 27 percent were foreclosed (bank owned), and the remaining 53 percent were traditional listings.
Median list price for potential short sales was $200000, foreclosed properties were $109900, and traditional listings were $479000.
Closed Sales:
In the month of March 2009 the sale of homes were 296. In March 2008 a total of 183 homes were sold. The year over year was 62 percent increase. In March 2007 a total of 213 homes were sold. The increase over 2007 was 83 homes or about a 39 percent.
Of the 296 homes sold, approximately 9 percent were approved short sales, 25 percent were foreclosures, and the traditional sales were 66 percent.
The breakdowns of the median sold prices are discussed in the median sold price section below.
Pending Sales:
During March 2009 a total of 659 homes had an offer accepted by the seller. In March 2008, 288 homes were pended. The increase from March 2009 represents an increase of 371 homes or about 129 percent.
In March 2007 a total of 274 homes were pending sale. The increase between March 2009 and March 2007 was 385 homes or about 141 percent.
Median Sold Price:
During the month of March 2009, the median sold price of a home in Naples was $183,500. 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 March 2008, the median sold price was $365000. In the year over year comparison median sold price declined $181500 or roughly 50 percent.
In March 2007 the median sold price was $495000. In comparing March 2007 to March 2008 the price declined $311500 or about 63 percent.
Median sold price for approved short sales was $190000, foreclosed properties were $96000, and traditional listings were $235,000.