The numbers are in, and it has been another strong quarter for Collier County real estate! Across all price levels, we saw almost a 20% total increase in closed sales compared to the second quarter of 2009 along with an increase in total pending sales up 8%. Inventory levels overall fell by 9% compared to second quarter 2009, and we saw a 10% increase in median close price for the $300,000 and below price range which is a welcome change.
A few points of interest by price point on the quarterly numbers include:
- $0-$300K - a 22% increase in the median closing price for single family homes jumping from 115 in 2009 to 140 in 2010 and condo closings up 30% compared to the same time last year.
- $300K-$500K - single family closings at a 31% increase over 2009 and an inventory decrease of 17% moving from 935 to 796. The condo market saw a 32% decrease in inventory levels and was the only category that saw a major decline in days on the market coming in at 190 for 2010 compared to 235 for 2009.
- $500-$1M - almost double the average increase in single family closings at 51% coupled with a decrease in inventory levels of 16%. The condo market saw a 29% increase in closings and inventory reductions at a 26% decline.
- $1M-$2M - a 61% increase in single family pending sales and a 60% increase in closed sales. The condo market saw a 31% increase in closings and a 21% reduction in inventory levels.
- $2M+ market - a 30% increase in single family pending sales, an 11% increase in closings, and the highest decrease in both inventory levels (29%) and days on the market (27%). Pending condo sales nearly tripled the average increase at 59%, and had the best decrease in inventory at 36%.
Clearly, it is safe to say that Collier County's real estate market is in recovery!
To view the full report, go to http://nabor.com/zzdwnlds/news/July_16_2010_Press_Release.pdf
To view statistics, go to http://nabor.com/zzdwnlds/news/2nd_Quarter_Statistics.pdf
Visit my website at www.micheleharrisonnaples.com
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