Naples Median home price increased 17% last year

ScottSorensonRealEstate.com NAPLES — The median home price in the Naples area increased 17 percent from March 2012 to last month, the Naples Area Board of Realtors announced Friday..

“It has been four years since we’ve seen the median closed price at this level,” said Mike Hughes, vice president and general manager of Downing-Frye Realty, in a statement. “So we continue to remain positive about the real estate market and its support of the local economy.”.

The median price increased from $184,000 in March 2012 to $215,000 for the 12-month period ending last month, according to a prepared statement from NABOR..

The median is the price at which half the homes sell for more and half for less..

Overall, the total number of closed sales dropped in March compared to a year ago. However, overall pending sales increased 4 percent from 10,204 units to 10,633 units for the 12-month period ending in March 2013. Overall pending sales rose in all price categories in March compared to the 12-month period ending in March 2012, except in the under $300,000 category..

The Realtors’ report said the average number of days on the market decreased by 8 percent, from 171 days on the market in March 2012 to 157 days on the market last month. Overall inventory dropped by 14 percent, from 7,599 in March 2012 to 6,565 last month, according to the NABOR statement..

NABOR also released its first quarter 2013 report on Friday..

The quarterly report said the overall median closed price increased 24 percent, from $190,000 in the first quarter of 2012 to $235,000 in the first quarter of 2013. In the $300,000 and under category, the median closed price increased 18 percent, from $135,000 in the first quarter of 2012 to $159,000 in the first quarter of 2013. .

Overall closed sales decreased 2 percent, from 2,220 residences in the first quarter of 2012 to 2,167 in the first quarter of 2013. Overall closed sales increased 13 percent in the $300,000 to $500,000 category, from 309 residences to 350, and increased 15 percent in the $1 million to $2 million category, from 99 residences in the first quarter of 2012 to 114 in the first quarter of 2013, according to the report..

The Realtors’ report said the average number of days on the market decreased 4 percent overall, from 169 days in the first quarter of 2012 to 162 days in the first quarter of 2013..

The monthly and quarterly reports track Realtor sales made through the Sunshine Multiple Listing Service (MLS) in Collier County, excluding Marco Island..

View the March 2013 Market Statistics View the First Quarter 2013 Market Statistics.

NABOR REPORT