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According to the latest announcement by the Naples Area Board of Realtors (NABOR) released on April 12, 2013, the median home price in the Naples market is up by 17 percent as compared to March 2012.
The median price increased from $184,000 in March 2012 to $215,000 for the 12-month period ending last month. Overall, the total number of closed sales dropped in March compared to a year ago. However, overall pending sales increased 4 percent from 10,204 units to 10,633 units for the 12-month period ending in March 2013. Overall pending sales rose in all price categories in March compared to the 12-month period ending in March 2012, except in the under $300,000 category.
The report also stated that the average number of days on the market decreased by 8 percent, from 171 days on the market in March 2012 to 157 days on the market last month. Overall inventory dropped by 14 percent, from 7,599 in March 2012 to 6,565 last month as well.
NABOR also released its first quarter 2013 report…
The quarterly report said the overall median closed price increased 24 percent, from $190,000 in the first quarter of 2012 to $235,000 in the first quarter of 2013. In the $300,000 and under category, the median closed price increased 18 percent, from $135,000 in the first quarter of 2012 to $159,000 in the first quarter of 2013.
Overall closed sales decreased 2 percent, from 2,220 residences in the first quarter of 2012 to 2,167 in the first quarter of 2013. Overall closed sales increased 13 percent in the $300,000 to $500,000 category, from 309 residences to 350, and increased 15 percent in the $1 million to $2 million category, from 99 residences in the first quarter of 2012 to 114 in the first quarter of 2013, according to the report.
The also report said the average number of days on the market decreased 4 percent overall, from 169 days in the first quarter of 2012 to 162 days in the first quarter of 2013.
To read the full release by NABOR, visit www.NaplesArea.com
For additional market reports looking at the Naples, Bonita Springs and Estero areas, please visit the John R. Wood Realtors Market Data Research page.