The Naples real estate market is outperforming last year’s third quarter activity in sales, median closed price and inventory.
Third quarter 2013 statistics demonstrate:
- A 22% increase in overall sales, from 1,882 homes in third quarter 2012 to 2,290 homes in third quarter 2013
- A 24% increase in overall median home prices, from $190,000 in third quarter 2012 to $235,000 in the current third quarter
- A 20% decrease in overall inventory from 6,195 homes in third quarter 2012 to 4,964 homes in third quarter 2013
Overall closed sales for the third quarter 2013 increased 48% in the $500,000 to $1 million market, from 196 properties sold in third quarter 2012 to 290 this third quarter. They also increased 128% in the $2 million and up segment, from 36 properties sold in third quarter 2012 to 82.
Cindy Carroll, with the real estate appraisal firm Carroll & Carroll, said, “These factors contribute to increasing values in many market sectors and necessitate the use of time adjustments in appraisals to accurately measure current market value. Leading the pack are property values in the $0 to $300,000 range where median price has increased 14% in the prior 12 months.”
Additional statistics from the quarter include:
- Overall Days on Market decreased 18% from 174 days in third quarter 2012 to 143 days in third quarter 2013
- Overall pending sales increased 8% from 2,362 in third quarter 2012 to 2,548 in third quarter 2013
- Condo closed sales increased 31% from 869 in third quarter 2012 to 1,142 in third quarter 2013
- Naples coastal area overall pending sales increased 14% reflecting 439 pending sales in third quarter 2013 compared to 388 pending sales in third quarter 2012
Average days on market for Naples single-family homes in the coastal area went from 215 days in third quarter 2012 to 131 days in the current third quarter, a 39% decrease.
As one Naples area broker noted, “As we prepare to move into season, right now is the prime time for sellers and buyers to take action. Interest rates are still very low and the days on market are projected to keep dropping.”
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Alysia Shivers Realtor | Naples Florida Real Estate | 239.877.9732
https://aroundtownwithalysia.com | Facebook | Twitter | LinkedIn | Pinterest
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Naples real estate market statistics are compiled on the 10th of each month. Calculations are based on Naples Real Estate property listings that exist within SunshineMLS. Only properties in Collier County, excluding Marco Island, are included.