State of the Market Naples, Florida
? The overall market median closed price increased 19% percent from $190,000 to $226,000, 12-month ending July 2013. ? The overall average days on market decreased 41 percent in the $2M and above category from 403 days to 238 days, July 2012 compared to July 2013 and 31 percent in the $1M-$2M category from 271 days to 186 days, July 2012 compared to July 2013. ? The median closed price for condominiums in the $2M and above category increased 36 percent from $2,650,000 in July 2012 to $3,600,000 in July 2013. ? Condominium inventory decreased by 23 percent from 3,299 available units in July 2012 to 2,534 units in July 2013. According to appraisal expert Cindy Carroll, with the real estate appraisal and consultancy firm Carroll & Carroll, "Consumer demand, especially in the coastal condo market, is driving home prices upward. In addition, falling inventories point toward continuing price gains." John Steinwand, President of Naples Realty Services, suggested two possible contributing factors for the increase in condo demand: 1. The stock market's performance has helped Baby Boomers recover investment losses and, in turn, this is helping them make the decision to sell their homes up north and purchase property in Florida, 2. Homeowners who lost their homes in the recession and became local renters are now qualifying for new home loans. "We hope the July surge in sales, especially in the condo market, will encourage homeowners that were once reluctant to sell to put their homes on the market now. Our statistics show that this is as good a time to sell as it is to buy," says Wes Kunkle, NABOR® P ?\?Y[?[???[Y\??X[????\?]?[??H?X[ K??[?X\?? ?
? \?H ?\?H L?
?Y\??? ?[H[? H?\\?\?XH[? ?^K \?H\?H
K ? HH
? \??[?X?X\?HH?][??[??H??^\?? HX\??]??[?YYX[????Y ?X?\? \ ?[\?? ??[?H[?H??? ??][? ? ?[ ? H ?\? \???^Y\?? ??\?H???[?? ? \??\?H ?Y? ?????Y]? \?\?X?H] ????\\?\?XK???B??