Is Season Really Over?

Posted on June 14, 2011

Where has the Naples Real Estate Blogger been?

It’s been a busy couple of weeks at Chip and I have been showing homes to prospective Neapolitans almost everyday for the past 2 weeks. ‘Season’ might technically be over, but buyers looking for real values are coming back to town now that the crowds are gone to look hard at those listings that are still available…And the best buys are going quickly! Regardless of the price range, we are seeing the ‘bottom’ inventory across the board being bought up by shrewd investors, smart second home buyers, international visitors, and first time home owners alike.

Here are some interesting, recent Naples Statistics:

Current Naples inventory is at 6,341 active homes & condos for sale per our local MLS data. That is approximately a 10% decrease in inventory over the same time last year. Single family homes make up 2,576 of those listings. Of the homes presently listed, 15.9% are short sales and less than 2% are foreclosures. 26% of today’s homes for sale in Naples are Previews Properties [those homes listed at or above $1 million dollars]. 30% are listed at or below $300,000. Of those homes listed under $300,000 over 35% are categorized as short sales! Total closed residential sales in Naples year-to-date comprised of 16.5% short sale properties.

Currently there are 67 single family homes for sale in Old Naples. Only 1 is listed as a short sale in the MLS, and only 1 is listed as a bank foreclosure. There have been 36 single family home closings in Old Naples year-to-date. 75% of the single family homes which have sold since January 1st, 2011 were listed at or above $1 million!

For an up-to-date analysis of any Naples area in which you have interest, please contact a member of The Harris Peppe Team today. We have served the Naples area since 1981, and I believe our knowledge and enthusiasm is unmatched in the industry today. Whether you are looking to buy or sell, we hope you will interview us to assist you with all your real estate needs. 239.370.0574

Thank you, and make it a great day!

The Naples Real Estate Blogger