Second quarter is typically the most active closing quarter along Naples beach, and this one was no exception.
The highest sales price on Naples beach for the quarter was $11.7 million with several others in the $4-$6 million range.
Sales remained brisk, as they did in the market as a whole, and although inventory on the beach is only slightly less than a year ago, the selection is becoming more and more limited as existing inventory is absorbed.
Some highlights from second quarter 2012 versus second quarter 2011:
- Closed sales on the Naples beachfront increased 16%; Naples bayfront set a new quarterly record with 32 closings
- Average sales price on the beach increased 7%; average sales price on the bay decreased 3% over the previous year’s quarter but increased almost 12% over first quarter 2012
As of July 1, 2012, there were 50 properties available on the bay and 177 on the beach. This represents a 27.5% decline in inventory on the bay from second quarter 2011, while beachfront supply remained about the same, down less than 3%.
Prices remain stable, however some buildings and price ranges are beginning to experience shortages of supply.
Click here to review the entire Gulf Shore Boulevard Second Quarter Market Report.
Alysia Shivers Realtor | Naples Florida Real Estate | 239.877.9732
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