Report Shows 17 Percent Increase in Median Closed Price
NAPLES, Fla.-August 13, 2010- The Naples Beach area leads the way to the market recovery with strong summer sales according to a report released by the Naples Area Board of REALTORS® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island).
Overall pending sales in the Naples Beach area increased 13 percent with 112 contracts in July 2010 compared to 99 contracts in July 2009. "Despite the concerns that we had last month regarding the extent of the oil spill, sales on the beach remained strong," said Tom Bringardner, President of Premier Properties.
“The median closed price for single-family homes in the Naples Beach area increased 123 percent,” stated Kathy Zorn, Broker/Owner of Florida Home Realty of Collier County. The Naples Beach median closed price for single-family homes increased to $1,117,000 in July 2010 up from $500,000 in July 2009.
The available inventory declined 7 percent to 8,731 in July 2010 compared to 9,359 in the same month last year.
“The fact that the month’s supply continues to go down and the median price is slowly increasing, indicates the Collier Real Estate market is continuing to recover,” said Michael J. Timmerman, Senior Associate, Fishkind & Associates, Inc.
The overall median closed price for properties over $300,000 increased in July 2010 compared to the same month last year. According to Mike Hughes, NABOR Media Relations Director, and Vice-President of Downing-Frye Realty, “The median closed price for properties over $300,000 is up significantly. It increased 21 percent to $592,000 up from $489,000 a year ago.” "More Details"