Friday, March 18, 2011

SINGLE FAMILY HOME SALE PRICES UP 10 PERCENT

REPORT SHOWS INVENTORY DECLINING
NAPLES, Fla.-March 18, 2011- The median closed price for single-family homes continues to rise with February statistics showing a 10 percent year-over-year gain. 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), lower inventory is driving price increases and key indicators show the market firming up.
“February marks the eighth consecutive month that the overall single family home median closed price increased, with the $300,000 and under market leading the way,” said Phil Wood, President of John R. Wood REALTORS®. The median closed price of single-family homes increased 10 percent to $205,000 for the 12 months ending February 2011 up from $186,000 for the 12 months ending February 2010.
The overall inventory in the Naples area decreased five percent in February 2011 to 9,213 available properties compared to 9,682 in February 2010.

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