February 2012
2011 HOUSING INVENTORY ENDS AT 5 YEAR LOW
Annual Pending and Closed Sales Rise
NAPLES, Fla.-January 20, 2012- The 2011 Naples area real estate activity has led to a five year low of inventory 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).
Statistics compiled by NABOR show an increase in overall sales with inventory diminishing in Collier County, which is an encouraging sign that the favorable market conditions are moving buyers.
Brenda Fioretti, NABOR agrees, “As the winter sales season begins in the Naples area, we currently have 1,564 fewer homes on the market than we did at the same time in 2010. The loss of listings includes 1,000 properties in the $300,000 and under price bracket. This is the lowest level of available homes and condos we have seen at the start of a new year since 2007!”
The available inventory declined 17 percent in 2011 with 7,581 available properties compared to 9,145 available properties in 2010. In the under $300,000 market category, the available inventory declined 21 percent to 3,771 properties in 2011 compared to 4,763 properties in 2010.
Every market category showed sale increases in both pending and closed sales with the largest increase in the $1 million and above categories.
The 2011 report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. An overall summary combines the statistics for both single family and condominium properties. The statistics are presented in chart format, along with the following statistics:
• Single family pending sales increased 5 percent with 5,162 contracts in 2011 compared to 4,896 contracts in 2010.
• Condo pending sales increased 11 percent with 4,908 contracts in 2010 compared to 4,422 contracts in 2010.
• The overall median closed price over $300,000 increased 2 percent to $550,000 in 2011 from $540,000 in 2010.
The 2011 fourth quarter report showed overall pending sales for the 12 months ending December 2011 increased 8 percent to 10,071contracts compared to 9,319 contracts for the same 12 months of 2010.
• Overall closed sales in the $1 million to $2 million category increased 38 percent with 76 sales in the fourth quarter of 2011 compared to 55 sales in the fourth quarter of 2010.
• Single-family home sales in the $500,000 to $1 million price range increased 13 percent with 90 sales in the fourth quarter of 2011 compared to 80 sales in the fourth quarter of 2010.
• Condo sales declined 2 percent to 793 sales in the fourth quarter of 2011 compared to 808 sales in the same quarter of 2010.
Please contact a member of our team to learn how to view the entire report.
Warm Regards,
Carl & Peggy
The data relating to real estate for sale on this Website come in part from the Broker Reciprocity Program (BR Program) of M.L.S. of Naples, Inc. Properties listed are marked with the BR House Icon and detailed information about them includes the name of the Listing Brokers. The properties displayed may not be all the properties available through the BR Program.
