Home Sales Surge Ahead
At Downing-Frye and through the rest of the Naples market, the home sales have been record breaking. According to the General Manager at Downing-Frye, the agency is on schedule for our best July sales in eight years. So far this year, the agency has had over 300 pending sales per month every month in 2013 and our agency sales are up 29 percent over last July’s sales.
Naples sales have been really remarkable as well with the second quarter of 2013 showing an increase in pending sales of 11 percent and the number of closed home sales increasing 6 percent over last year. Overall prices of homes have gone up as shown by the overall median closed sales price (which includes single family homes and condos together) increasing 18% from $190,000 to $225,000. For single family homes, the median sales price in Naples is $330,000. The median sales price of condominiums and townhouses is $207,000 which is an increase of 8.7 percent. These are all great indicators of the strengthening of the market and that it’s becoming an even better time to sell and that buyers need to act quickly if they want to take advantage of the market and historically low rates.
Overall inventory in Naples has decreased 16% with 5,282 properties for sale which makes the market more competitive and will drive further price increases as this now stabilized market continues to appreciate. For single family homes, inventory has decreased 25.3 percent.
Bonita and Estero are also showing improved market strength and stability with closed sales of single family homes increasing by 14.7 percent in the last 12 months and a decreased in inventory of 25.3 percent.
Statewide closed sales are up 8.6 percent over last year with 20,403 homes sold in June and pending sales rose 23.1 percent. The statewide median sales price for existing single family home in June was $175,000 which is up 15.1 percent from the year before.
If you’re thinking about upgrading or downgrading your home, now would be a great time to call us and receive a complimentary comparative market analysis of your property. Each neighborhood has a different rate of appreciation and inventory level so it’s important to get an individualized report on your property from us so that you can make a decision about your real estate goals and needs.
Give us a call… 239.293.0246… Mike always answers the phone!
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