The Naples Board of Realtors recently released their market statistics for June 2008. The Overall Market Statistics show that pending sales have increased. The median sales price in the 12-month period ending 6/2007 - 6/2008 show that overall prices have decreased 12.98%. In this same period, the largest number of pending and closed sales in the Overall Market is still in the under $300,000.00 price range. 46% of all pending sales and 37% of all the closed sales are under $300,000.00. The Naples Beach area and the North Naples area garnered 46.43% of all sales in this time frame.
In comparing June 2007 to June 2008, the available inventory has decreased 10.47%. There is currently a 32 month supply of inventory.
Condominium Statistics show that in the 12-month period ending in June 2007 to June 2008 the median sale prices decreased 14.46%. 43.69% of all closed sales were under $300,000.00.
Single Family Statistics show that in this same period, the median sale prices decreased 10.54%. 49.61% of all the closed sales are in the North Naples and East Naples areas. 68% of all closed sales were under $300,00.00.
While it may take Naples some time to eat through its current inventory, the under $300,000.00 seems to be coming along well. If you are a buyer, looking to purchase a single family home in Naples under $300,000.00, I'd say you better get out there now and make a decision. You probably should have been making that decision a few months ago.
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