Naples Real Estate Market Update: Low Inventory & Overall Median Closed Price Up 14%.

Overall inventory of homes in the Naples area dropped 20% in the $300,000 and below category  in August 2014 compared to August 2013.
The median price rose 13% in that same category. 

The low inventory lead to a decrease of pending and closed sales in August in the Naples Beach area (West of US 41).
For example the inventory of condominiums for sale in the Naples Beach area ( Olde Naples, Coquina Sands, The Moorings, Park Shore & Pelican Bay) dropped 28, from 571 condos in 8/2013 to 409 condos for sale in 8/2014.
The median close price increased 7% to $530,000 in that same area.
Here are other important points of this real estate market report in Naples just released by NABOR (Naples Association Boards of Realtors):

  • Overall pending sales decreased 11% in August 2014 compared to August 2013 by lack of inventory.
  • Overall inventory decreased 8% from 3,875 to 3,579 in the same period.
  • Average days on market: 83 in August 2014. 
The inventory of new constructions increased but few are available under $300,000. 

Author: Dominick Tascher Group - Blog

Naples to Estero Real Estate Blog by Dominick Tascher Group at MVP Realty brings to the public the latest information about real estate news and trends, market reports, new communities and also topics related to living in the paradise of SW Florida; Naples, Bonita Springs, Estero and South Fort Myers.

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