Listings:
The new listings for the month of August 2009 were 608 homes in the Naples real estate market. The number of homes listed in August 2008 was 797. The decrease in the number of new listings of homes was 189 or about 24 percent. In August 2007, the new listings were 950, representing a reduction of 342 homes or a decline of 36 percent compared with August 2009.
In July 2009 the new listings were 728.
Of the 608 homes listed approximately 27 percent were potential short sales, 20 percent were foreclosed (bank owned), and the remaining 53 percent were traditional listings.
Median list price for potential short sales was $165000, foreclosed properties were $119800, and traditional listings were $399000.
Closed Sales:
In the month of August 2009 the total homes sold were 331. In August 2008 a total of 220 homes were sold. The year over year was 51 percent increase. In August 2007 a total of 164 homes were sold. The increase over 2007 was 167 homes sold or about a 102 percent.
In July 2009 the number of homes sold was 400.
Of the 331 homes sold, approximately 18 percent were approved short sales, 39 percent were foreclosures, and the traditional sales were 43 percent.
The pie chart below shows the composition of closed sales in graphical format.
Composition of homes sold in Naples for August 2009
The breakdowns of the median sold prices are discussed in the median sold price section below.
Pending Sales:
During August 2009 a total of 518 homes had an offer accepted by the seller. In August 2008, 274 homes were pended. The increase from August 2009 represents an increase of 244 homes or about 89 percent.
In August 2007 a total of 160 homes were pending sale. The increase between August 2009 and August 2007 was 358 homes or about 224 percent.
The composition of the August 2009 homes pending for sale in the Naples area is shown below.
Composition for the month of August pending sales
The total number of homes pending sale in the Naples real estate market is 1133. The pie chart below shows the percentage break down.
Composition of Total Pending Sales for Naples
Median Sold Price:
During the month of August 2009, the median sold price of a home in Naples was $185000. 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 the local Naples real estate market.
In August 2008, the median sold price was $257750. In the year over year comparison the median sold price declined $72750 or roughly 28 percent.
In August 2007 the median sold price was $404000. In comparing March 2007 to March 2008 the price declined $219000 or about 54 percent.
Median sold price for approved short sales was $190000, foreclosed properties were $118000, and traditional listings were $304500.
The difference between the list price and sold price for approved short sales was about 93 percent, foreclosed properties 99 percent, and traditional listings 88 percent.
