Naples FL Blog

Naples Florida May 2008 Real Estate Market Reports
June 25th, 2008 3:30 PM

I have attached the real estate market statistic charts to this document. When you click on the words I have highlighted, you will be taken to that report.

The Overall Real Estate statistics for May 2007 in comparison to May of 2008 shows that pending sales have increased in Naples. In the 12-month ending May 2008, the overall median prices have decreased 10.02%. The bulk of pending and closed sales still continue to be in the under $300,000.00 price range. The North Naples area is the leader in pending and closed sales. As of the end of May, there were 11,175 properties on the market.

The Single Family Home statistics for May 2007 in comparison to May of 2008, shows pending sales have increased from 181 pending sales in May 2007 to 334 pending sales in May 2008. In the 12-month ending May 2008, the number of closed sales has decreased. In that same period, median prices have decrease by 5.5%. The North Naples area is the leader in pending and closed sales in looking at the period of 12-month ending May 2008. The East Naples area has the highest amount of pending sales from May of 2007 to May of 2008. As of the end of May there were 5,609 single family homes on the market and that amount of inventory would last around 35 months.

The Condominium Statistics show a slight decrease in the number of pending sales in the 12-month period ending May 2008. In this same period, median prices have decreased 13.15%. The bulk of pending sales and closed sales are in the under $300,000.00 price range. The Naples Beach area and the North Naples area continue to be the leaders in pending and closed sales. As of the end of May, there were 5,505 condominiums on the market this amount of inventory would last around 32 months.

The bulk of available listings, 4,561 listings, are under $300,000.00. If you are in the market for a second home under $300,000.00, Naples is the place to buy. You’ll have a large selection and motivated sellers.

Summertime is a good time to purchase a home in Naples. There are less people in town and less competition for properties. I also want to add that summertime is a great time to vacation in Naples. The beaches are almost empty and you can enjoy a variety of wonderful restaurants without waiting!

Summertime in Naples, FL


Posted in:General
Posted by Lynn H. Wilber on June 25th, 2008 3:30 PMPost a Comment

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