Naples Market Update

Naples Home Market Update

During the month of February 2009 a total of 228 homes were sold with a median sold price of $211,300 for the Naples area.

The number of homes sold when compared with February 2008 shows an increase in sales volume of 85 homes or roughly 59.4 percent.

The February 2009 homes sold also represents an increase over February 2007 by 81 homes or roughly 55.1 percent.

In addition the 2009 homes sold figure is 25.3 percent higher than February 2006 by 46 homes.

The median price of a single family home sold in the Naples area does reflect a devaluation from the median sold price of $400,000 in February 2007 or $188,700, which translates to roughly 47.2 percent. [Read more...]

Naples Condo Inventory

The number of Naples condominiums available for sale at the beginning of October was 4716. The absolute number of listings increased by 41 condos over the 4675 listings at the beginning of September. Therefore, the months of inventory remained stable at 29 months. Viewing the months of inventory for the 12 month moving average trend shows a downward trend from February. The months of inventory in February was 37 months, while at the beginning of October it was 29 months.

Graph for the number of months for Naples condos available for sale.

Naples Homes Inventory

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.

Naples Home Market Update

Naples Condo Inventory

Naples Homes Inventory

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