Naples & Marco for July 2009 - How did we perform?

Many wonder if the positive news reports and recent stock market advances will be a driving force in the real estate market. Consider the following:

• Nationally: In June, Existing Home Sales rose for the third straight month, climbing 4%. The inventory of unsold existing homes fell to a 9.4-month supply from a 9.8-month supply in May. The national median home price rose 4% from May. According to the National Association of Realtors (NAR), home sales were helped by the first-time homebuyer tax credit and "historically high affordability conditions".
• Naples: Last week the Naples Area Board of Realtors (NABOR) released reports on the positive gains for June 2009. 
  • Pending sales (under contract) saw a 92 percent increase with 2,989 in the second quarter of 2009 compared to 1,558 in the second quarter of 2008. 
  • "Overall pending sales in the 2 million and over category increased 85 percent from June 2008 compared to June 2009," stated Jo Carter, President, Jo Carter & Associates. "This indicates that not only properties under $300,000 are selling, but significant increases in the higher end of home sales are also being seen."
•  Marco Island:
  • For June 2009, single family homes saw the largest advance in real estate sales with a 6.67% increase in closed sales and 25% increase in pending sales.  Condominium sales saw an 8% increase in closed sales.
  • The high-end condominium market is consistent with sales activity in a year over year comparison with 28 sales in 2009 and 29 sales in 2008.

Contact me for all of your real estate needs!  

Natalie Kirstein

Based on information from the Naples Area Board of REALTORS® and Marco Island Area Assocition of REALTORS® for the period 1/1/08 to 7/24/09, these properties were not all listed or sold by Premier Properties of Southwest Florida, Inc., and were listed or sold by various MLS Participating Offices.