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Report Shows 9 Percent Increase in Median Closed Pricez
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NAPLES, Fla.-June 18, 2010- All geographic areas in Naples experienced a significant increase in both pending and closed sales in May 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).

For the 12 months ending May 2010, overall pending sales in all geographic areas increased 47 percent from the 12 months ending May 2009. The increase ranged from 33 percent in East Naples to 56 percent in South Naples.

The report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. The statistics are presented in chart format, along with the following analysis:

• Overall pending sales increased 9 percent to 887 contracts in May 2010 compared to 812 contracts in May 2009. For the 12 months ending May 2010, closed sales increased 48 percent with 8,152 sales compared to 5,495 sales for the 12 months ending May 2009.

• Single-family pending sales saw a 10 percent increase with 477 contracts in May 2010 compared to 433 contracts in May 2009.

• Condo sales saw a 25 percent increase with 398 sales in May 2010 compared to 318 sales in May 2009. For the 12 months ending May 2010 pending condo sales in the under $300,000 category saw a 69 percent increase with 3,573 contracts compared to 2,117 contracts for the 12 months ending May 2009.

• The available inventory decreased 10 percent to 9,006 in May 2010 compared to 10,046 in the same month last year.