Naples Real Estate Market Report – May 2015.
The real estate market report for Collier county (not including Marco Island) has just been released today by Naples Associations Board of Realtors (NABOR).
The overall median closed price increased 15% from $252,000 (12-month period ending in May 2014) to $289,000 (12-month period ending in May 2015).
The overall closed sales for May in the $300,000 to $500,000 price category increased 30% compared to May 2014.
A very important point to notice as some people would like to compare the current real estate market to the market of 2005: Many of the current buyers are end users and not flippers like in 2005.
Another important point: 60% to 70% of today buyers are cash buyers.
Here are also important points of the report:
- Closed sales for single-family homes in the $300,000 to $500,000 price category increased 22%.
- Closed sales for condominiums in the same price category ($300-$500K) increased 33%.
- Overall inventory decreased 3%.
- Average days on the market decreased 21%.