Sales along Naples beachfront were robust during first quarter 2011, posting the highest number of closings for the period since 2005. With 61 sales, versus 47 last year, this represents a 30 percent increase over first quarter 2010, and the fifth consecutive quarter to show an increase over same quarter, prior year.
Average sales price of beachfront properties closed in the first quarter was $980,914, approximately the same as first quarter 2010. The fact that there was no significant change in this number could be an early sign of stabilizating prices in this segment.
The two buildings recording the highest number of sales were Lausanne and Vistas, with six closings in each building.
Naples bayfront properties also experienced the third consecutive year of first quarter increases over prior year. The 16 closed sales resulted in a 33 percent increase over first quarter 2010.
Average sales price of bayfront properties increased from $368,063 in first quarter 2010 to $431,688, an increase of 17 percent. Harbour Cove experienced the highest level of activity with three closed sales, followed by Spindrift with two sales.
As of April 1, 2011, there were 253 properties for sale on Naples beach and 91 on Naples bay. While both numbers are reasonably consistent with the same period 2010, the active selling season during 2011 will likely result in diminished inventory when sales pended in the first quarter close during the second quarter.
The combination of attractive prices and a good selection of properties in multiple price ranges continues to bring buyers to this popular area.
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Please contact a John R. Wood sales professional for more in-depth information on properties or price ranges in which you have a specific interest.
Tags: Naples Florida bayfront sales activity, Naples Florida beachfront sales activity, sales along Naples bayfront, sales along Naples beachfront
