May was another positive month for home sales in Naples. The Naples Area Board of Realtors (NABOR) released their monthly statistics for all of Collier County, except Marco Island, and the numbers were up. There were a total of 771 closed sales in May, 2010, as opposed to 727 for the same month last year, representing a 6%+ increase. For the twelve month period ending in May of this year there was rise of over 48.3% compared to the same time period ending in May, 2009.
All pricing categories for Naples home sales shared in this improvement in the number of closings for May. At the high end the number of sales in excess of $2 million increased over 50%, going from 17 last May to 26 this year. The $500,000 to $1,000,000 price range and the $1 million to $2 million bracket experienced rises of roughly 15%. When looking at the twelve month figures, it really defines the improvement for all price markets. The under $300,000 price range grew a remarkable 57.2% for the twelve month period ending May, 2010, as compared to the twelve month period ending May, 2009. Also showing impressive improvement during this time period were the $300,000 to $500,000 range and the $500,000 to $1 million bracket with rises of 38.5% and 28.7% respectively.
The NABOR report also provided a bright glimpse into the future of Naples real estate. The number of pending sales where a contract has been signed but has not closed went from 812 at the end of May, 2009, to 887 at this May's end. This increase of over 9% for the month was shared across all price points, with the largest jump coming in the over $2 million arena which more than doubled. Again the 12 month data makes the bigger impression by jumping to 10,193 total pending sales for the period ending this May, compared to 6,962 pending sales at the same time last year. All price levels shared in this rise with the $1 million to $2 million bracket leading the way with a 52.4% gain, followed closely by the $300,000 to $500,000 range which grew by 51%. Representing 70% of the total pending sales the under $300,000...click here for more information.
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