Naples area market report this month – a service from the Naples Area Board of REALTORS® ( NABOR® )
“Naples, Fla. (May 22, 2015) – What makes a room full of real estate brokers happy? Record-breaking sales! This realization surfaced during a recent meeting where 10 NABOR® brokers reviewed the April 2015 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). The report showed that traditional sales comprised 94% of all closed sales as compared to non-traditional sales (foreclosures or short sales).
- April 2015 had 1,095 traditional sales. This is the highest number of traditional sales in a month since we started tracking the NABOR® numbers back in 2009.
- Not only did April register the highest percentage of traditional sales since 2009, but the data revealed the highest total number of closed sales since July 2009, and the lowest level of distressed property closings in the past six years. Just 10 short sales and 57 foreclosed sales were closed this April versus 330 total distressed sales back in July of 2009.
- April was a remarkable month for the real estate market with notable results in pending sales (properties under contract) of condominiums in the $2 million and above price category, which saw a 58 percent increase from 12 pending sales in April 2014 to 19 pending sales in April 2015.
- April 2015 Market Report indicated that overall closed sales had positive gains in all price categories above $300,000 with the $300,000 to $500,000 category capturing the highest gain – 21 percent from 1,787 in the 12-months ending April 2014 to 2,162 in the 12-months ending April 2015.
- The overall median closed price increased 13 percent in April from $250,000 in the 12-months ending April 2014 to $283,000 in the 12-months ending April2015. This was fueled mostly by activity on both ends of the price spectrum. Homes in the $0 to $300,000 price category experienced a 10 percent increase in median home price from $168,000 in the 12-months ending April 2014 to $185,000 in the 12-months ending April 2015, while homes in the $2 million and above price category experienced a 9 percent increase in median home price from $2,900,000 in the 12-months ending April 2014 to $3,175,000 in the 12-months ending April 2015.
- Overall inventory decreased 3 percent from 4,157 homes in April 2014 to 4,040 homes in April 2015.
- Inventory for condominiums decreased 10 percent from 1,951 condominiums in April 2014 to 1,751 condominiums in April 2015.
- Average days on market decreased 28 percent from 99 days in April 2014 to 71 days in April 2015.
- Overall, April 2015 had a 5.06-month supply of inventory compared to a 34.78-month supply in April 2007″
The Naples Area Board of REALTORS® (NABOR®) is an established organization (Chartered in 1949) whose members have a positive and progressive impact on the Naples Community. NABOR® is a local board of REALTORS® and real estate professionals with a legacy of nearly 60 years serving 5,000 plus members. NABOR® is a member of the Florida Realtors and the National Association of REALTORS®, which is the largest association in the United States with more than 1.3 million members and over 1,400 local board of REALTORS® nationwide. NABOR® is structured to provide programs and services to its membership through various committees and the NABOR® Board of Directors, all of whose members are non-paid volunteers.
When you are ready to put your home on the market, look to a REALTOR® for the experience and knowledge you need to determine whether now is the right time to sell your home and ensure your next sale or purchase in the Naples area is a success. Contact Ellie Penaranda or Tim Cranch at 239-776-5077 and let’s discuss your real estate needs.