January Real Estate Sales In Naples Florida.
Reduce Inventory Further!
Published by Naples Area Board of REALTORS
Naples Florida. Real Estate Market Update.
Overall home sales increased by 5 percent from 9,273 properties sold in the 12-months ending January 2013 to 9,754 properties sold in the 12-months ending January 2014. While overall sales inched forward, overall inventory declined 15 percent in January 2014. Overall median closed price saw a dramatic increase of 18 percent from $205,000 in the 12-months ending January 2013 to $242,000 in the 12-months ending January 2014.
"The MLS statistics help us see the pace of the market," says Pat Pitocchi, NABOR president and corporate trainer at Downing-Frye Realty, who points to a 9 percent increase in closed sales of condominiums in the 12-months ending January 2014 versus only a one percent increase in single family homes closed sales during the same period.
"Interest is definitely in the condominium market right now versus the single family home market as evidenced by the report, which shows a 21 percent decrease in condo inventory versus a 9 percent decrease in single family homes."
The NABOR 2014 January Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR January 2014 sales statistics are presented in chart format, including these overall (single-family and condominium) findings:
- Overall closed sales in the under $300,000 category fell 4 percent from 6,153 properties in the 12-months ending 2013 to 5,900 properties in the 12-months ending 2014.
- Overall median closed price rose 18 percent from $205,000 in the 12-months ending 2013 to $242,000 in the 12-months ending 2014.
- Overall inventory decreased by 15 percent from 5,642 properties in January 2013 to 4,776 properties in January 2014.
- Closed sales in the condominium market rose 9 percent from 4,679 properties in the 12-months ending 2013 to 5,100 properties in the 12-months ending 2014.
- Inventory in the condominium market decreased by 21 percent from 3,092 units in January 2013 to 2,447 units in January 2014.
- Median home prices in the single family market rose 23 percent from $240,000 in the 12-months ending January 2013 to $295,000 in the 12-months ending January 2014. This was mostly driven by properties under $300,000 as detailed above.
View January 2014 Market Statistics
To view the entire report, visit www.NaplesArea.com