Port Royal to Olde Naples to Naples Real Estate - Average Sale Price Up

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Average sale price in Naples for single family homes increased 6% in a year over year comparison, a promising figure for our market. From Port Royal to Aqualane Shores to Olde Naples real estate, we have seen prices really stabilize and inventory drop as buyers benefited from a better stock market and suppressed prices. 

NAPLES — Single-family homes are selling locally and their median price is rising.

The median closed price increased 6 percent, to $210,000 from $199,000, over the year ending May 2011, according to The Naples Area Board of Realtors press release. In 2011, there are 7,705 unsold properties on the market as opposed to 9,006 last year.

“With its strong market and rising prices, Naples is the exception to the two-thirds of the country experiencing real estate challenges, just as predicted by Dr. Lawrence Yun, Chief Economist of the National Association of Realtors,” said Phil Wood, president of John R. Wood Realtors.

Over the past year, ending May 2011, overall pending sales increased by 8 percent and overall closed sales increased by 4 percent, according to the press release. Single-family home pending sales increased by 8 percent while condo sales increased by 9 percent.

“The increase in sales is found in the traditional market, not short sales or foreclosures which now make up less than 30 percent of the properties sold,” president of Naples Area Board of Realtors Brenda Fiorette said.

Figures come from reports, which can be found at www.NaplesArea.com. Price ranges and geographic segmentation was found by using Naples Area Board of Realtors’ multiple listing service, according to the press release.

Best Regards,

Brad Johnson

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