Here are are some bullet points showing our Naples real estate trends as the inventory continues to shrink. Diminishing supply and increasing demand is the driving force behind our market in 2014. One of the factors that makes our real estate market different is that we have many sources of buyers – more relocation than ever before, vacation home buyers, second home buyers, foreign buyers from all over the globe, investors, move-up buyers, retirees, and downsizing buyers.
- Overall median closed price rose 18 percent from $205,000 for a 12-month period to $242,000.
- Overall inventory decreased by 15 percent from 5,642 properties in January 2013 to 4,776 properties in January 2014.
- Closed sales in the condominium market rose 9 percent from 4,679 properties in a 12-month period to 5,100.
- Inventory in the condominium market decreased by 21 percent from 3.092 units in January 2013 to 2,447 units in January 2014.
- Median homes prices in the single-family home market rose 23 percent from $240,000 in the 12-month period ending January 2013 to $295,000 in the 12-month period ending January 2014.
Our Downing-Frye office to date is having a record year too:
- January 2014 – 417 pending sales, a 19 percent increase over a very strong January 2013 – a volume of $196 million which is 47 percent higher than the previous January.
- February 2014 – Downing-Frye closed sales volume was up 49% over last February’s closed sales.
Thinking of buying or selling a home in Naples? Let Tim and Ellie be your Naples choice professionals.
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Call today. Tim Cranch at 239-272-4848 or Ellie Penaranda at 239-776-5077