May-June Home Sales for Naples & Bonita Springs show Promise

By
Real Estate Agent with John R. Wood REALTORS

The June 1st Market Report


Closed Sales

Closed sales units in May remained approximately the same as May 2010, and the third highest on record for the month.

Median sales price year-to-date increased 9% over April’s year-to-date median price.

Median sales price for the year-to-date May period has remained relatively consistent for three years.

Closed sales units over $1,000,000 are up 11% for the year.


Pended SALES

Pended sales remained brisk in May and approximately even with May 2010.

Year-to-date pended sales are the highest on record for the period, and comparable to 2005 levels.


NEW LISTINGS

The number of new listings placed on the market in May was the lowest since 2005.

Available inventory in the Naples, Bonita Springs, Estero market on June 1, 2011 stands at 8,101 units (4,310 condominiums and 3,791 single family homes). This represents a 17% decrease over the same period 2010.

Overall inventory represents slightly less than a 10 month supply based on closed sales during the past 12 months.


CLICK to View the June Market Report



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Garren Grup is a Real Estate Consultant, REALTOR®, ABR, GRI, CDPE, SFR... Noteworthy Results in Luxury properties, Golf course homes, beachfront and vacation foreclosures!

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Tags:
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Rainmaker
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Rob Arnold
Sand Dollar Realty Group, Inc. - Altamonte Springs, FL
Metro Orlando Full Service - Investor Friendly & F

Sounds like things are slowly bottoming out.  Our market here in Orlando is down to under 5 months inventory now.    Is most of your market retirees and snowbirds? 

Jul 28, 2011 04:03 AM #1
Rainmaker
155,077
Garren Grup
John R. Wood REALTORS - Naples, FL
REALTOR, ABR, CNE,CDPE, GRI, Naples & Bonita Springs, FL

Rob - Actually, the inventory is now down almost 22% in the last 12 months and prices are rising in many of our communities and/or the quality and finish is inferior. 

A good portion of our market is snowbirds and retirees, but in the last 5 years my average buyer profile has dropped 10 years and most of my clients are in their 40's.  We have a very large segment of high net worth individuals with quite a bit of discretionay income asa well. 

We just published our 2nd Quarter report & you can follow the link to view the Naples 2nd Qtr Housing Report.

Jul 28, 2011 04:35 AM #2
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Rainmaker
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Garren Grup

REALTOR, ABR, CNE,CDPE, GRI, Naples & Bonita Springs, FL
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