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About the author:
Lynn Wilber is a Real Estate Professional who lives in Naples. Her 33 years of real estate experience and her area expertise have been valuable resources for Naples Sellers and Buyers. For more information, please contact Lynn Wilber or call 239-594-2780.
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The Naples Area Board of Realtors® recently released statistics for June 2011. Let's take a look at the 12 month period ending June 2011 in comparison to the 12 month period ending June 2010. Some good news is that the inventory of properties for sale is down for both condominiums and single family homes.
Here are breakdowns of Condominium Sales by price range and area:
Condominiums By Price Range- June 2011
% Total Sales
Months Needed to Absorb Inventory
Condominiums By Area- June 2011
% of Total Sales
The under 300K market seems to be rapidly approaching the "normal" 6 months worth of inventory. The Naples Beach area still has the largest time frame to absorb inventory at 15.2 months. The over 2 million dollar price range has a whopping 26.23 months of inventory to absorb.
If you are Seller selling a condo in Central Naples, under $300,000.00, you should be experiencing showing activity on your condo. If you are a Seller selling a condo in the Naples Beach area over 2 million, it will take a while to sell your property.
Here are breakdowns of Single Family Sales by price range and area:
Single Family Homes By Price Range- June 2011
Single Family Home Sales by Area- June 2011
The areas of East and Central Naples are closely approaching the "normal" market inventory of 6 months and the under 300K market is almost at 6 months inventory!
If you are a Seller of a single family home in East or Central Naples under $300,000.00 you should be experiencing activity on your home. If you are a Buyer with the same criteria, you have a lot of competition right now.
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