Listings:

The new listings for the month of March 2009 were 749 condos in the Naples area. The number of condos listed in March 2008 was 721. The increase of new listings of condos was 4 percent. In March 2007, the new listings were 861, representing a drop of 112 condos or decline of 13 percent.

In February 2009 the new listings were 710.

Of the 749 condos listed approximately 18 percent were potential short sales, 11 percent were foreclosed (bank owned), and the remaining 71 percent were traditional listings.

Median list price for potential short sales was $154900, foreclosed properties were $76000, and traditional listings were $275750.

Closed Sales:

In the month of March 2009 the sale of condos were 248. In March 2008 a total of 222 condos were sold. The year over year was 12 percent increase. In March 2007 a total of 217 condos were sold. The increase over 2007 was 31 condos or about a 14 percent.

Of the 248 condos sold, approximately 5 percent were approved short sales, 16 percent were foreclosures, and the traditional sales were 79 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 413 condos had an offer accepted by the seller. In March 2008, 280 condos were pended. The increase from March 2009 represents an increase of 133 condos or about 48 percent.

In March 2007 a total of 207 condos were pending sale. The increase between March 2009 and March 2007 was 206 condos or about 100 percent.

Median Sold Price:

During the month of March 2009, the median sold price of a condo in Naples was $169000. 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 $276250. In the year over year comparison median sold price declined $107250 or roughly 39 percent.

In March 2007 the median sold price was $310000. In comparing March 2007 to March 2008 the price declined $141000 or about 45 percent.

Median sold price for approved short sales was $130950, foreclosed properties were $80875, and traditional listings were $205000.

The difference between the list price and sold price for approved sales was about 93 percent, foreclosed properties 97 percent, and traditional listings 90 percent.