The Naples Board of Realtors recently release the home sales report for April 2010. The good news is that in the overall Naples Market, the inventory of available properties has decreased 12.62% in comparing April 2009 to April 2010. Comparing this same time period the median sale prices of properties increased 22.35%. Don't get too excited because comparing the 12-month period of April 2009 to April 2010 showed a decrease in the median price range of 18.01%.
The 12-month period of April 2009 to April 2010 showed a whopping 52.73% increase in the number of closed sales! Based on the inventory that is available, it would take 13.76 months to deplete the inventory. A "normal" market would take about 6 months to deplete its inventory.
The breakdown of the 8,052 sales during the above time by price range is as follows:
It would please me to report that I am cautiously optimistic about these numbers; however I am too guarded. While other price ranges have seen increases in the number of closed sales, 70.53% of all these sales are still under $300,000.00. The market is still going to take some time to get back to "normal."
The summer sales period has me apprehensive. While summer is usually a slower time for real estate sales in Naples, I have HUGE worry over the path of BP's oil spill. I do not even want to wrap my head around what will happen to real estate prices if BP's oil comes to our beaches.
Volcanic ash limiting European travel and the devaluation of the Euro may find fewer European visitors in Naples this summer. My advice to any Sellers in Naples is that if you really do not have to sell, take your home off the market. If you are a Seller that wants to sell and has a home that is on the market over $300,000.00 look at every offer that comes to you very carefully as you only represent the 29.47% of the sales in this current market.
Okay, after all is said and done, Naples is a beautiful place to live. The photo below was taken on a night in April that I saw the green flash! I only wish I had a camera that was fast enough to capture the flash, so I could share it with you!
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Should you be thinking of selling your home in Naples and would like a candid assessment of what it would take to sell your home in today's market, I would be happy to provide you with a free market evaluation. Feel free to give me a call at 239-594-2780 or e-mail me at Lynn@NaplesBuys.com.
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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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