Naples Residential Closed Sales : A Comparison of October 2008 vs. October 2009 In October 2008 there were a total of 392 Closed Sales compared to 483 Closed Sales last month. Approximately a 19% increase.October 2008 Closed Sales priced under $300,000 totalled 239 (61% of the total closings) vs. 323 Closed Sales in October 2009 (66.8% of the closings). 36 of the closed sales in October 2008 were Previews Properties (those listed at or above $1 million dollars). In October 2009 28 of the 483 were Previews Properties. Pending Sales in October 2008 totalled 570. In October 2009 we saw a dramatic increase with 1,014 residential listings going Pending.
October also saw the first increase in listings taken since March. It is typical that we see an increase in homes and condos on the market this time of year as sellers prepare for the upcoming season.
Naples is divided into Geographic Areas in the Multiple Listing System. Here is an example of the Average Sale Price changes in the past 12 months (0-12 months) vs. the previous 24 to 12 months in some of those Naples Areas:
NA 06: Olde Naples Prices are down -14.7% NA 07: Port Royal/ Aqualane Shores Prices are up +7.4%NA 08: Royal Harbor area/ Windstar prices are up +11.1%NA 05: Crayton Road area: Prices are down -20.5%NA 15: Between Goodlette & US 41 Prices are down -24.6%
*Keep in mind, some of those increases may have been caused by the more expensive ‘newer home’ listings that have been selling vs. the ‘older home’ listings which command much less per square foot and are priced closer to lot value in many cases. Such is the case in the Crayton Road area, as an example, which saw fewer newer home sales compared to the Royal Harbor area, which has seen more newer construction sales in the past 12 months than the previous 12 months. For more details or for results in other Geographic areas in Naples, please call us.
Based on the current inventory in the Naples MLS, today’s attractive interest rates, the national Pending Home Sale Index, the number of residential listings that went under contract last month AND the increase in Internet inquiries that The Harris Peppe Team is experiencing (more than a 400% increase in website registration in October 2008 vs October 2009), I’d say we are in for a great season ahead! Factor in the pent up demand, the number of “baby boomers” moving south and the desirability of Naples Florida and we have a winning combination! There has NEVER been a better time to buy a home in Naples Florida! If you or someone you know is interested in receiving a “Welcome to Naples” package, please contact someone from The Harris Peppe Team today! We hope to hear from you soon and we look forward to earning your business! 239.370.0574
Have a great November!