Naples Luxury Real Estate Market Update - July 2014

07/18/14

 
A press release including the most recent Naples, FL real estate statistics was just released today showing continued positive signs in the local real estate market. Most noteworthy are the increases in the higher-end luxury market where we are seeing quite simply, higher demand and less supply which is driving prices up at a rapid rate. We are still in a market where almost everyone is paying cash, multiple offer situations are the norm, and inventory is scarce. Hopefully, we will start to see some more products become available for this next coming season to stabilize the market. For more information regarding the Naples area luxury real estate market contact area expert Rex Miller at 239-821-1433 or rex@gcipnaples.com. Below is a list of some of the most interesting statistics released today by NABOR-

  • Overall closed sales increased 11 percent for homes priced above $500,000.
  • Overall closed sales for homes in the $2 million and above market increased 42 percent from 110 in the Second Quarter 2013 to 156 in the Second Quarter 2014.
  • Overall inventory decreased 9 percent from 4,086 homes in Second Quarter 2013 to 3,723 homes in Second Quarter 2014.
  • Inventory in the single-family home market increased 4 percent from 1,896 in Second Quarter 2013 to 1,964 in Second Quarter 2014.
  • Inventory of condominiums decreased 20 percent from 2,190 condominiums in Second Quarter 2013 to 1,759 condominiums in Second Quarter 2013.
Rex Miller, P.A.
Realtor

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