Here is the 3rd Quarter 2014 report issued by NABOR, the Naples Area Board of Realtors3rd Quarter
Inventory Remains Tight
Naples, Fla. (October
17, 2014) - Limited inventory continues to be the story of the Naples area
real estate market, according to the third quarter report released by the
Naples Area Board of REALTORS® (NABOR®). Inventory of existing homes decreased
9 percent from 4,080 homes available in the 3rd quarter of 2013 to 3,702 homes
in the 3rd quarter of 2014. This tight inventory affected sales activity as
demonstrated by a 10 percent decrease in pending sales from 2,548 in 3rd
quarter 2013 to 2,304 pending sales in 3rd quarter 2014; and an 11 percent
decrease in closed sales from 2,339 in 3rd quarter 2013 to 2,093 closed sales
in 3rd quarter 2014.
Contrary to the reduction of
pending and closed sales in the 3rd quarter of 2014, real estate agents across
Collier County reported being very busy keeping up with the growing demand.
This anomaly, as confirmed by a panel of brokers analyzing the NABOR® 3rd
Quarter 2014 Naples area market statistics, is likely a result of the market
experiencing an influx of new home construction that, while not reported in the
Southwest Florida MLS, has replenished the void resulting from a decreased
inventory in the resale market.
The NABOR® 3rd Quarter 2014 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® 3rd Quarter 2014 sales statistics are
presented in chart format, including these overall (single-family and
Pending sales of single family homes over $2 million
increased 26 percent from 43 in 3rd quarter 2013 to 54 3rd quarter 2014.
Pending sales of condominiums between $1 million and $2
million increased 29 percent from 38 in 3rd quarter 2013 to 49 in 3rd
Overall closed sales in the $300,000 to $500,000
category increased 13 percent from 398 in 3rd quarter 2013 to 451 in 3rd
Overall closed sales in the $1 million to $2 million
category increased 14 percent from 91 in 3rd quarter 2013 to 104 in 3rd
Overall median closed price increased 13 percent from
$234,000 in 3rd quarter 2013 to $265,000 in 3rd quarter 2014.
Overall median home price of homes over $300,000
decreased 7 percent from $530,000 in 3rd quarter 2013 to $493,000 in 3rd
Overall inventory decreased 9 percent from 4,080 homes
in 3rd quarter 2013 to 3,702 homes in the 3rd quarter of 2014.
Overall inventory of single family homes in the
$300,000 to $500,000 market increased 15 percent from 422 in 3rd quarter
2013 to 487 in 3rd quarter 2014.
NABOR® also released its September
2014 Market Report, which revealed the following:
Overall pending sales increased 2 percent from 810 in
September 2013 to 829 pending in September 2014.
Overall closed sales decreased 3 percent from 9,919 in
the 12-months ending September 2013 to 9,585 closed sales in the 12-months
ending September 2014.
Overall median closed price increased 14 percent from
$230,000 in the 12-months ending September 2013 to $262,000 in the
12-months ending September 2014.
Overall inventory decreased 9 percent from 4,080 in
September 2013 to 3,702 in September 2014.
Broker analysts agree that new
construction within the last year is a welcome addition to the Collier County
With guidance from a local REALTOR®, buyers can discover
opportunities and ensure their sale or purchase is a success within both the
new home and resale markets.
To discuss how this market data relates to your unique situation, contact me at 239-273-4006, or at Fay@Move2NaplesNow.com or visit my website, Fay.Move2NaplesNow.com.
Author:Fay Bamond Phone: 239-273-4006 Dated: October 22nd 2014 Views: 281 About Fay: Fay Bamond, PA, Broker Associate, provides buyers and sellers in-depth local knowledge, technologica...
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