September 2011 Real Estate Market Report
Closed sales units through September are up 5% over the same period 2010, and the highest for the period since 2005. The Median sales price year-to-date remains approximately the same as 2010 and just slightly higher than 2009. Although the number of closed sales is down slightly from September 2010, they remain among the highest for the month during the past 12 years.
The number of pended sales recorded in September is the highest since March and among the highest on record for the month. Year-to-date pended sales priced between $1,000,000 and $5,000,000 are up 11% over the same period 2010. Sales above $5,000,000 remained level. Monthly Pended sales priced between $1,000,000 and $2,000,000 are up 30% over September 2010. Properties priced above $2,000,000 maintained the same level as prior year.
The number of new properties placed on the market through September is down 13% when compared with the same period 2010, and the lowest for the period since 2004. The number of new listings taken in September is down 9% from September 2010 and 31% from the peak for the month which occurred in 2006. Total available inventory in the Naples, Bonita Springs, Estero market on October 1, 2011 stands at 7,459 units (4,052 condominiums and 3,407 single-family homes). This represents a 24% decline from October 1, 2010.