The inventory of Naples homes for sale, continues to show a downward trend. As of the midnight July 3 or the early morning hours of August 1, there were a total of 3923 homes for sale in Naples. As of July 1 the number of homes for sale was 4104. Between the two months there was a drop of 181 homes. The difference is more pronounced in comparison with 2008 – a total of 5263. In a year over year comparison the drop equates to 1340 homes or about 26 percent reduction in the number of homes for sale. [Read more...]
Naples Real Estate Home Market Update – May
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The Naples real estate market for homes is starting to show signs of strengthening in many aspects and prospective buyers should be aware of the positive changes. The statistics presented and discussed below are global in nature for the Naples area and do not represent the more important micro-market views which can vary greatly between the North Naples, Naples West, Naples Central, Naples South, Pelican Bay, Pelican Marsh, The Vineyards and Golden Gate Estates areas. [Read more...]
Naples Homes for Sale – Inventory
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The available homes for sale in the Naples area saw a drop in the number of homes for sale as of the end of April or start of May. The current number of homes for sale is 4756. This represents a drop in the inventory of 441 homes. The decline represents of about 8 percent. In the year over year analysis the current inventory represents a decline of 1037 homes or about 18 percent. In addition, the number of home available for sale is at the lowest level since January 2008. in January 2008 there was a total of 6270. Therefore, the decline is 1514 or about 24 percent. Below is a graphical presentation of the historical data for active listings by month from January 2008 to April 30, 2009.
Naples homes for sale
The composition of the type of listings available for sale is rather interesting and could represent a major difference between prospective buyers’ perceptions, as well as, what is being reported by others as to how dire the Naples real estate market is. The vast majority of listings fall within the traditional listing category (traditional listings are listings being offered as a normal sale), followed by foreclosures, and potential short sales. The raw numbers for the various categories are 3624 for traditional listings, 951 potential short sales and 181 foreclosures.
Classification of Listings for Homes in Naples
A question arises – does the closed sales for April reflect the classification of the listings? The answer to this question will appear on this blog sometime between May 8 and May 11.
Your thoughts and comments are always welcomed.
Naples Homes for Sale – April
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Naples Homes For Sale - February 2008 to March 2009
As of the end of March 2009, there were a total of 5,197 homes for sale in the Naples area. Compared with March 2008 there was a reduction of 819 homes or about 14 percent. This also represents a reduction in available homes for sale from February of 100 homes.
The number of active listings is determined on April 1st based upon the close of business on March 31st.
After the 5th business day of April an analysis of the months of homes for sale inventory will be posted on this blog for prospective buyers and sellers.
Naples Homes Inventory
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The actual number of Naples homes for sale remained level from September to October, with fewer homes for sale by 3. The total available homes was 5247 in September versus 5244 in October. However, due to the level of closed sales the months of inventory for Naples homes for sale has decreased one month from the beginning of September (29 months) compared to October (28 months). Since the beginning of February 2008 with 38 months of inventory, the months have dropped 10 months to its present level. The reader should review the graph as not only does it measure the absorption rate based upon a 12 month moving average, but reflects the 3, 6, and 9 month moving average.
The real estate market for Naples single family homes still remains a strong buyers market. A neutral market is generally around 6 months of inventory.
Below the presentation is a discussion of the meaning for the various absorption rates and how they may influence your decision for selling or buying real estate.
- Graph for the months to absorb the current number
of Naples single family home listings.