Posted By: Ellie Penaranda - Naples FL Real Estate Blog
Naples Florida Real Estate Sales Report - December 2010
Media reports are usually a general look at the market across the nation. However real estate is very localized by city and sometimes even by neighborhood. It is more important than ever when considering the purchase or sale of a home in Naples to be informed as to market conditions, activity levels & trends. The more information you equip yourself with, the better decision you will make when addressing your real estate needs.
Pending sales up, inventory down. The month of December started with strong activity which was expected by professionals in the industry. When we are talking about strong activity, we usually mean, equal or higher activity than the previous month, and or equal or higher activity than the same month a year earlier.
Inventory - currently we have 6,821 homes on the market for sale with a vast price range from $27,500 to $22,900,000. Compared to the 12 month ending December 2009 - the inventory of homes is down by approx. 1500.
Pending Sales - 1,566 homes were under contract during December, some of which are awaiting lender approval.
Sold - 625 homes closed in December 2010 compared to 473 in November 2010 and compared to 468 in October 2010. The sales represented 300 for single family homes, 257 for condos, 60 for villas and 8 manufactured homes.
Breakdown by price range:
Over $1M - 42 (compared to 28 in Nov. 2010), representing 7%
$250,000 to $999,000 - 202 (compared to 143 in Nov. 2010), representing 32%
$250,000 or less - 381 (compared to 302 in Nov. 2010), representing 61% (compared to 64% in Nov.)
Average Days on the Market
145 days for single detached and 171 days for condos with a total average of 158. Compared to a year ago at 171. We are proud to say that our listings have sold with an average of 118 days on the market.
Beachfront home sales also increased in December with 24 closed sales (ranging from $416,000 to $14,550,000 (compared to 17 sales in November 2010).
The highest sold home in December for $14,550,000 (listed at $22,950,000) was a beachfront estate in Port Royal overlooking the sparkling waters of the Gulf of Mexico with 9,000 sq ft of luxury living. The sale was a cash transaction.
The Naples market is very localized and some Naples communities will vastly differ in their activity level which affects your negotiation power, so please feel free to contact us direct at 239-776-5077 we would welcome the opportunity to provide you with information on any particular community. If you are considering the sale of your home, we would be happy to share our marketing plan.
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