Naples, Florida

The September Stats are in. The market continues to increase over prior year month. There is reason to expect that this will continue despite the economic turmoil. In fact, we are already beginning to see investors and users viewing real estate as a sound investment for these uncertain times. With prices substantially off their 2005 – 2006 highs, many opportunities await the astute buyer.

CLOSED SALES
♦Closed units in September were up 40% over September 2007.
♦Year-to-date closed units were up 16% over the same period in 2007. Volume is down 8.5%
♦Median sales price year-to-date September is down 20% from year-to-date September 2007. Average sales price is down 21%
♦Year-to-date sales under $500,000 represent 72% of all closed sales and continue to be the only price segment showing an increase over the prior year. Closed units under $250,000 are up 109% over year-to-date September 2007.

PENDED SALES
♦September pended sales units are up 107% over September 2007 and almost the same as September 2004 and September 2003. Naples is up 119% and Bonita/Estero is up 67%.
♦Cummulative pended sales through September are up 25% over the prior year.
♦Pended sales over $2 million were the same as September 2007 (13 sales). The entire $1 million plus price category is slightly ahead of September 2007 (38 sales September 2008 vs. 36 September 2007).
♦Year-to-date pended sales over $2 million remain 38% behind the same period in 2007. (337 pended YTD September 2007 vs. 244 in 2008.)

NEW LISTINGS
♦Number of new listings taken in September up 4% over September 2007.
♦Active listing inventory on October 1, 2008 stands at 13,212 in the combined Naples, Bonita Springs, Estero markets (6,937 single-family homes and 6,275 condominiums). This represents approximately a 3% decrease compared to inventory a year ago.
♦This report represents the combined Naples, Bonita Springs and Estero markets. Numbers may vary among various communities and markets, so call Team Harris for a more individualized report.

Disclaimer: All information from Sunshine MLS. Accuracy is deemed correct but not warranted