The market report for July 2009 shows positive indicators for Naples Florida real estate. The median sales price dropped slightly from the level it has held since January (less than 3%), due to the fact that there were over 3,000 closings year-to-date in the price segment under $250,000.

Although properties priced under $250,000 continue to dominate the market, the $1,000,000 to $2,000,000 price category posted a 35% gain over July 2008. We will continue to monitor market segments over $1,000,000 to see if this signals the beginning of a trend for the luxury market.

Available inventory continues to fall with the number of single family homes showing a 24% decline from July 2008 levels. The number of condominiums available for the same time period has dropped by 12%.

August, traditionally one of the slower months for pended sales, is substantially outpacing August 2008 through the early month. We expect this trend to continue throughout the month and strengthen as we approach the “seasonal” months.

Price is still King in terms of buyers purchasing Naples Florida real estate. Properties priced to the current market are once again creating multiple offer situations in many cases.

You may access our July 2009 Naples Florida real estate market report via the following link: July 2009 Market Report or by copying and pasting the following link to your web browser.

http://www.myjrw.com/documents/Forms/MarketReportJuly2009.pdf