Friday, February 3, 2012

January Market Report Update for Naples Florida

Real estate in Naples continued to be solid in December, setting us up for a very busy 2012. Closed sales units in 2011 increased 5% over 2010, and are up 104% from their 2007 low. Closed sales above $1,000,000 are up 12% with 706 closings in 2011 vs. 630 in 2010. Of note, the average sales price has increased 7% since its 2009 low while median price has remained stable. Interestingly, the number of new listings placed on the market in 2011 is down 13% from 2010 and new listings for the month of December were the lowest for the month since 2004. Available inventory on January 1, 2012 in the combined Naples, Bonita Springs, Estero market stands at 7,896 units (4,264 condominiums and 3,632 single family homes). This represents a 23% decrease from January 1, 2011. The market is definitely starting to tighten, especially in highly desirable neighborhoods. For more information, visit www.lovingnaples.com.

http://www.lovingnaples.com

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