Until recently, I have been estimating that the market in Naples will hit the bottom in the last quarter of 2010.  While no one knows for sure, the market statistics have definitely made me change my mind.

As you can see from the graph below, sales have increased every month since February.  Inventory has also decreased.  As of June 29, there are 8979 homes on the market, whereas, this time last year there were over 11,000.

Foreclosures are coming and going fast, many times above list price.  I was speaking with 2 agents in my office who each wrote above full price offers on homes because they were in multiple offer situations.  At the beginning of the year, there were over 400 listings, today there are only 212.

I was speaking with two agents in my office last week and they both wrote 2 above full price offers due to multiple offer situations.

The good stuff is selling fast and at a high list to sell price ratio.  If you're looking for a home under $300,000, the inventory is shrinking which means prices will soon start to stabilize.  Certain price ranges have already seen increases.  This season I sold 2 Winterpark condos for under $70,000, today the lowest price is $90,000.  

Give me a call or shoot me an email to find out where the best deals are in the Naples area.  I can be reached at 239-784-4868 or mindy@mindysylvester.com