A 12 percent jump in overall pending sales marked the third quarter of Naples Area real estate, as compared to the third quarter 2011. In addition, overall pending sales for September 2012 increased 22 percent compared to September 2011.
The Naples area has just moved from a buyers’ market to a buyers’ and sellers’ market with tremendous opportunities for both,
More inventory would be helpful to the market. Resale inventory continues to decline despite the fact that new home building has returned.
The single family home market is very hot. Pending sales of single family homes in the $500,000 to $ 1million category had a rousing increase of 15 percent from third quarter 2011 to third quarter. The strong activity contributes to the inventory levels falling below 3,000 for single family homes.
Third quarter 2012 compared to third quarter 2011:
• Overall inventory decreased 12% • Overall pending sales increased 12% • The median closed price increased 10% • Naples coastal area overall pending sales increased 17%
• The overall median closed price increased 12%. • Overall pending sales increased a stunning 96% in the $300,000 to $500,000 category, • Overall inventory decreased by 12% • Overall pending sales in the Naples coastal area increased 12%.
Now is the time for sellers and buyers to take action. With interest rates at an all time low and with Naples values increasing, it is a perfect opportunity for sellers and buyers to achieve their real estate goals. Whether you are a seller, first-time homebuyer, investor, second or vacation homebuyer, move-up buyer or someone who has decided that it is time to downsize, it is the time to take advantage of current market conditions and the American Dream of Homeownership.