The 2009 Year To Date real estate statistics for Naples Florida show that the overall market experienced an increase in both pending sales and closed sales from the 2008 year to date statistics. Out of 7,056 closed sales for the year 2009, a total of 5,051 of those closed sales were all under $300,000.00.
The January 2010 Naples Florida real estate statistics also show an increase in both pending and closed sales. Of the 3,406 closed sales in the 12 month period ending January 2010, 2,566 of those closed sales were under $300,000.00. As of the end of January 2010, Naples has an inventory that could last 17.87 months. The under $300,000.00 market has an inventory that could last only 10.53 months! This market is rapidly approaching "normal" market inventory of 6 months. Those buyers who have been waiting to purchase in the under $300,000.00 should start taking action. Competition is tough in that price range. Conversely if you are looking to purchase over 2 million dollars, there is an inventory that could last 45.96 months!
It appears to this Realtor® that this season is not going to be stellar. Even though the inventory of homes in the Naples area has decreased, it has mainly decreased in the under $300,000.00 range. The upper price ranges may be facing a decrease in price.
While there has been an up tick in showing activity lately, Buyers still are not making buying decisions and continue to wait. Until the economy improves and potential Naples buyers can get their homes sold up North, the upper price ranges may not move for a while.
It has been so cool in Naples that I actually was forced to wear my winter coat!
Note in this photo I am also wearing gloves. After living in Naples for the past 13 years, I have become a true Floridian.
Tomorrow night our weather is suppose to drop down into the 40's. As I type this blog entry, I am wearing a jacket over my clothes AND socks. My heart goes out to all our Northern neighbors who were socked with snow storms. When I put on my coat and gloves I was reminded of trying to open lock boxes in Chicago's freezing cold. I never could get those boxes open unless I took off my gloves. Brrrrrrrrr! Where ever you may be, I hope that good weather is headed your way.
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About the author:
Lynn Wilber is a Real Estate Professional who lives in Naples. Her 31 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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