What a great real estate year 2011 was for Naples Park! More homes sold in 2011 (142) compared to (131) in 2010. Though the average sales price increased, it was not by much, from $191,359 in 2010 to $191,856 in 2011. The good news is the activity of sales in the higher price range (highest sold in 2011 was $849,500 compared to $488,400 in 2010). Another fabulous piece of news is the market share of Bank owned and Short Sale homes which dropped from 54% in 2010 to 38.5% in 2011. Bank owned and short sales are at a low 10% market share of available properties in Naples Park.
The Naples Park market has stabilized and now we can expect some appreciation. We ended 2011 with only 77 homes (that is only 6.7 month’s of supply!!) on the market—a dramatic decrease compared to 129 at the end of 2010. We are excited and looking forward to a very active 2012 season.
As you look down the list of the 142 homes that sold in 2011, make note that some homes actually sold at a price higher than listed. Buyers and investors have been watching the neighborhood closely and there is no such thing as under pricing a home because aggressive pricing will bring competition. On the other hand, the homes that ignored the market realities and exaggerated the list price ended up on the market much longer and closed at a lower percentage of list price. There is good reason for optimism but, correct pricing is more critical than ever.
2010 / 2011
# closed Sales: 131 / 141
# Closed Sale at Above Asking: 22
# Closed at full price: 14
Average Sales Price: $191,358 / $191,856
Lowest Sale: $ 59,000 / $ 64,000
Highest Sale: $488,400 / $849,500 (97.65% of asking price!!)
Bank Owned/Short Sale 54% / 38.5%
Thinking of buying or selling a home in Naples Park in 2012? Call Tim or Ellie today at 239-776-5077 and let’s discuss your options.