Naples Area Real Estate Market Report October 2012

Real Estate Market Report October 2012

Naples, Bonita, Estero Real Estate Market Areas

CLOSED SALES

• The number of closings in October is up 19% over October 2011, and the highest on record for the month.
• Year-to-date closings are also at the highest level for the period since 2005 and only 5% below the record set in 2005 for the first 10
months of the year.
• Average Sales Price year-to-date is 39% below 2005 level at $376,729 vs. $620,666 in 2005.

PENDED SALES
• The number of sales pended in October is the second highest on record for the month.
• All price categories posted increases over October 2011 in the number of pended sales, with the largest increases in the category
above $1,000,000. Properties priced below $250,000 recorded the smallest gain.

NEW LISTINGS
• The number of new properties placed on the market in October increased 21% over October 2011.
• The number of new listings year-to-date continued the downward trend for the period which began in 2007.
• Available inventory in the Naples, Bonita Springs, Estero market on November 1, 2012 stands at 6,471 units (2,894 single family homes
and 3,577 condominiums). This is a 16% decline from November 1, 2011, and represents approximately a seven month supply.

For more info on Naples Real Estate  contact Judy or Dennis
www.JudySellsNaples.com | Judy@JudySellsNaples.com | 239-216-1388

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The Supply / Demand Situation in Naples Real Estate

Here are a couple of charts that may help you better convey the reality of the supply / demand situation in the Naples, Bonita Springs, Estero market based on information from Sunshine MLS.

The chart at the top of the page shows that our Naples and surrounding area Real Estate inventory peaked in February 2008 with almost 16,000 units for sale.  This represented just over a 37 month supply based on closings at that time.  You can see how dramatically months of supply has diminished from then until now.

The second chart shows the historical relationship between number of units for sale (supply) and the number of closings (demand).  April 2010 is the point at which sales for the prior 12 months were almost equal to existing inventory.  Since that time sales (demand) has remained relatively consistent while available units for sale (supply) has continued to decline.

If you are wanting to list your Naples / Fort Myers home please contact Judy or Dennis.www.JudySellsNaples.com | Judy@JudySellsNaples.com

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