Naples Real Estate Market Improving

Naples Real Estate Market Statistics – April

by adeltarealty

in Naples Market Update

The Naples real estate market for the month of March is continuing to show strengthening. The buyer’s market continues, however, it weakening especially since last year.

HOMES:

Homes available for sale, as of March 31 – totaled 3784. Of this total 659 were potential short sales, and 136 were foreclosures. This translates to 10.8 months of inventory (normal market is between 5 and 7 months) versus last year 21.1 months. This statistic most clearer reflects the higher level of sales activity of homes in the Naples area.

A total of 366 homes closed in March. Last March a total of 318 homes were closed.

Pending sales for the month of March was 700 homes versus last March’s figure of 575 homes.

The median sold price for a single family home in the Naples in March was $244000 in a year over year comparison March 2009 saw the median sold price at $177200.

An indicator of future closed sales in addition to the current month’s pending sales, is the total number of pending sales. The total number of pending sales includes not only the current month (700), but also an cumulation of those homes which have not yet closed from previous months. The total pending sales as of the end of March was 1370 homes. Of the 1370 homes, 735 were potential short sales and 185 were foreclosed homes (bank/lender owned).

CONDOS:

Condos available for sale as of March 31 – totaled 4036. Of this total 426 are potential short sale condos and 83 foreclosures. This translates to 14.9 months of inventory versus last year’s 29.9 months.

A total of 377 condos closed in March versus last March where 263 condos were sold.

Pending sales for the month of March was 627 versus last March’s figure of 465.

The median sold price for a condo in the Naples area was $165000 compared to last year’s median of $164000.

The indicator of future closed sales in addition to the current month’s pending sales is the total pending sales. In March a total of 1141 condos were pending sale. Of this number, 529 were potential short sales and 81 foreclosures.

The statistics used for this post were taken from the Sunshine MLS on April 1st using data obtained for the month of March. The March data is primarily at this time, the final statistics are generally available on the fifth business after the end of the previous month.