3RD QUARTER NAPLES AREA MARKET PERFORMANCE TREND CHARTS BY QUARTER
AS OF SEPTEMBER 30, 2011
SEPTEMBER 2011 NAPLES AREA MARKET PERFORMANCE TREND CHARTS BY MONTH
AS OF SEPTEMBER 30, 2011
NAPLES, Fla.-October 14, 2011- Real estate sales activity continues to increase with single family home sales and the Naples Beach area is leading the way according to a report released by the Naples Area Board of REALTORS® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island).
"Single-family pending sales in the $500,000 to $1 million price category increased 30 percent in the third quarter, and the average days a property was on the market decreased 11 percent. The sales activity is shifting from the low end market to higher priced properties," said Coco Waldenmayer, Managing Broker of Engel & Voelkers. In the third quarter of 2011 there are currently only 592 available single-family properties in the $500,000 to $1 million price category.
For the 12 months ending September 2011, all Naples geographic areas showed an increase in pending sales compared to the same 12 months in 2010. Properties in the Naples Beach area remain in the highest demand with 1,776 contracts for the 12 months ending September 2011 compared to 1,471 contracts for the 12 months ending September 2010.
"Overall pending sales in the Naples Beach area increased 21 percent for the 12 months ending September 2011, as consumers take advantage of the good values," said Bill Poteet, President of Poteet Properties.
"Prices in the Naples Beach area may be under pressure, however, sales activity continues to remain strong," said Steve Barker, Supporting Broker with Amerivest Realty. The Naples Beach area consists of zip codes 34102, 34103 and 34108.
The Third Quarter 2011 trend statistics for a two year period are presented in bar chart format following this report for all Naples areas which include Pending Sales Trends, Closed Sales Trends, New Listing Trends and Average Closed Price Trends, along with the following analysis:
"Traditional sales represent 60 percent of the sales activity in the Naples area. Foreclosure sales remain low and the number of short sale closings are increasing, this is a sign that banks are willing to work with homeowners," said Brenda Fioretti, NABOR President and Managing Broker of Prudential Florida Realty.
According to Kathy Zorn, Broker/Owner of Florida Home Realty, "Traditional sales continue an upward trend in our market as they have increased 26 percent from September 2011 to September 2010."
The September 2011 trend statistics for a two year period are presented in bar chart format following this report for all Naples areas which include Pending Sales Trends, Closed Sales Trends, New Listing Trends and Average Closed Price Trends, along with the following analysis:
3RD QUARTER NAPLES AREA MARKET PERFORMANCE TREND CHARTS BY QUARTER
AS OF SEPTEMBER 30, 2011
SEPTEMBER 2011 NAPLES AREA MARKET PERFORMANCE TREND CHARTS BY MONTH
AS OF SEPTEMBER 30, 2011