The market continues to improve in Naples, FL. The overall median sale price for a single family home in Naples has increased 10% this year over last. Condominium sales have increased 4% over the same period. According to the NABOR report, overall pending sales in the $500,000 to $1 million range are up 21% over last year. In the $1 million to $2 million range the market has also seen a big improvement with a 17% increase over last year.
As for the coastal areas which include 3 zip codes (34102, 34103, 34108) that basically stretch from Delnor-Wiggins Pass, West of 41 and south to Port Royal (Including Pelican Marsh and Pine Ridge) total closed sales have improved by 10% with pending sales improving by 14% over 2011.
Inventory levels have gone from a high of 12,157 in February 2007 to the current level of 6,409 units. The lower inventory levels are the driving force behind the improvement in the Naples real estate market.
Scott Pearson GRI, CRS