The Naples Board of Realtors (NABOR) released an article highlighting our local rebounding condominium market. The results are impressive. The 2 million+ price segment increased 1200% over July 2012.
NAPLES, FL It's shaping up to be a record breaking year for real estate sales in Naples. One segment in particular helping to push sales is the condominium market. According to NABOR July 2013 closed sales in the $300K to $500K range are up 143% over July 2012, the $2 million+ segment is up 1,200% over July 2012.
Buyers are seeing inventory levels dwindle to nothing which is spurring on a flurry of summer sales activity. Buyers aren't waiting around any longer, they're getting in while the prices are still affordable and there is somewhat of a selection to choose from.
A couple other notable condominium market statistics; the median closed price in the 2 million+ category is up 36% over July '12 from $2,650,000 to $3,600,000 and the 23% reduction in available units from 3,299 to 2,534 compared to July 2012.
The market overall shows closed sales up:
- 24% in the $300K to $500K category from 1,196 units to 1,608 sold (year ending July 2013 over 2012).
- 26% increase in the $500K to $1 million category from 906 to 1,041.
- 19% increase in the $1 to $2 million from 412 to 576.
- 22% increase in the $2 million+ from 276 to 337.
NAPLES BEACH AREA SALES ACTIVITY THROUGH 8/16/13
ALL OF NAPLES:
- 3,904 Active, 1,112 Pending with Contingencies, 851 Pending, 6,441 Closed
(Last week)
- 3,924 Active, 1,120 Pending with Contingencies, 867 Pending, 6,322 Closed
VANDERBILT BEACH:
- 111 Active, 9 Pending w/, 10 Pending, 102 Closed
(Last week)
- 109 Active, 10 Pending w/, 11 Pending, 101 Closed
PELICAN BAY:
- 154 Active, 19 Pending Contingent, 29 Pending, 280 Closed
(Last week)
- 154 Active, 18 Pending Contingent, 34 Pending, 276 Closed
PARK SHORE, MOORINGS AND COQUINA:
- 276 Active, 50 Pending w/, 29 Pending, 430 Closed
(Last week)
- 274 Active, 50 Pending w/, 29 Pending, 423 Closed
OLD NAPLES:
- 130 Active, 19 Pending w/, 13 Pending, 175 Closed
(Last week)
- 130 Active, 18 Pending w/, 13 Pending, 174 Closed
AQUALANE SHORES:
- 15 Active, 0 Pending w/, 0 Pending, 16 Closed
(Last week)
- 15 Active, 0 Pending w/, 0 Pending, 16 Closed
PORT ROYAL AREA:
- 47 Active, 1 Pending w/, 4 Pending, 27 Closed
(Last week)
- 47 Active, 2 Pending w/, 2 Pending, 27 Closed
ROYAL HARBOR AREA:
- 84 Active, 13 Pending w/, 8 Pending, 104 Closed
(Last week)
- 82 Active, 13 Pending w/, 8 Pending, 103 Closed
Scott Pearson GRI, CRS