Naples, FL (December 14, 2012) - Inventory levels continue to
decline while the overall median closed price rose 14 percent, and the overall
closed sales increased 6 percent for the 12-months ending November 2012,
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).
Brenda Fioretti, Managing Broker
at Prudential Florida Realty stated, "For property owners who wanted to
sell but did not think the market was conducive to that outcome, the current
trends and tight real estate inventory allow for the possibility that scenarios
may have changed in their favor either through increased equity, improving
Florida economic conditions, property values trending up, or historically low
interest rates."
The NABOR® November report
provides annual comparisons of single-family home and condominium sales (via
the SunshineMLS), price ranges, and geographic segmentation and includes an
Overall Market summary. The NABOR® November sales statistics are presented in
chart format, with these overall (single-family and condominium units)
specifics:
- The overall median closed price increased 14 percent from
$175,000 at the end of November 2011 to $200,000 for the 12-month period ending
November 2012.
- Overall pending sales increased 6 percent from 10,057 units
to 10,667 units for the 12-month period ending November 2012. Overall pending
sales increased 20 percent in the $500,000 to $1 million category, from 960
units to 1,153 units, and increased 11 percent in the $1 million to $2 million
category, from 429 units to 478 units, for the 12-month period ending November
2012.
- Pending sales increased 100 percent in the $2 million plus
category from 16 units in November 2011 to 32 units in November 2012.
- Overall inventory decreased by 15 percent, from 7,625 listed
properties in November 2011 to 6,518 in November 2012. Pending sales with
contingent contracts are included in the overall inventory number.
-The average DOM (Days on the Market) increased overall from
168 days in November 2011 to 181 days in November 2012.
- Overall pending sales in the Naples coastal area increased 14
percent from 1,801 units to 2,045 units, and closed sales increased 10 percent,
from 1,640 units to 1,804 units, for the 12-month period ending November
2012.
"We have been in a
relatively stable market year-round," said Wes Kunkle, Managing Broker of
Weichert, Realtors on the Gulf. "Many buyers are coming down earlier than
in past years and we are finding that they often prefer to go to contract
before they return north for the holidays. In the past, they would leave and
make a purchase decision after they went back up north. The tight inventory has
resulted in a greater sense of urgency. This, plus the market remaining strong
is positive news for the real estate industry."
To view the entire report, visit www.NaplesArea.com
The Naples Area Board of
REALTORS® (NABOR®) is an established organization (Chartered in 1949) whose
members have a positive and progressive impact on the Naples Community. NABOR®
is a local board of REALTORS® and real estate professionals with a legacy of
nearly 60 years serving 4,000 plus members. NABOR® is a member of the Florida
Realtors and the National Association of REALTORS®, which is the largest
association in the United States with more than 1.3 million members and over
1,400 local board of REALTORS® nationwide. NABOR® is structured to provide programs
and services to its membership through various committees and the NABOR® Board
of Directors, all of whose members are non-paid volunteers.
The term REALTOR® is a registered
collective membership mark which identifies a real estate professional who is a
member of the National Association of REALTORS® and who subscribe to its strict
Code of Ethics.
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