In the past year there has been quite a change in condos for sale in Naples, Florida, and that is by sheer numbers. The inventory of condominiums on the market at the end of October of this year stood at 3,435, while the number was 3,939 at October’s end in 2011. This represents a total decrease of nearly 13%. These figures come from the latest report issued by the Naples Area Board of Realtors (NABOR), and covers all of Collier County, with the exception of Marco Island.
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The NABOR report breaks these statistics down by price classification, and it is interesting to note that all price points expressed a lowering in numbers. On a percentage basis, the number of condos for sale in Naples, Florida which had the largest decrease were those priced between $500,000 to $1 million, with a 16% drop. All price brackets experienced decreases of more than 12% with the exception being those units priced over $1 million. There were 322 condos at those prices in 2011, and 313 at the end of October this year, a fall of just less than 3%.
Differing geographical areas are another way the NABOR report expresses their statistics, and all of the areas showed a reduction of inventory of condos for sale in Naples, Florida. Going from 946 units on the market at the end of October in 2011, down to 786 condos in 2012, North Naples (roughly the area from Pine Ridge Road north to the county line) reflected the highest percentage drop at 16.9%. The Naples Beach area (from Vanderbilt Beach South along the Gulf of Mexico to Port Royal) experienced a decrease of nearly 200 condos, with 1,183 for sale in October, 2011, and only 987 this year.
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