Thursday, October 9, 2008
Naples Real Estate Statistics
Here are a few interesting statistics: Currently in Naples there are 10,264 Active residential listings. 4,581 are priced under $300,000. 4,402 are priced over $1 million. 12% of the current residential listings in Naples are Short Sales. 81% of the short sales are priced below $300,000. The Average Sold Price in the past 12 months is $587,612. with a trend line decreasing from approximately $700,000. in October 2007 to just under $500,000 as of October 1st, 2008. The Median Sold Price in the last 12 months is $313,219. with a trend line decreasing from approximately $360,000 in October 2007 to $245,000 now. The number of units closed has increased 72% when comparing September 2007 through September 2008. This is great news! Keep in mind that Real Estate is local, and even within the Naples market certain areas have fared better than others. As an example: highrises along Gulf Shore Blvd. N. have an average sale price of $1,787,424 for the past 12 months. If you go back 24 months, the average is $1,869,732; a decrease of less than 4.5%. In contrast, you can use the area of Golden Gate Estates, where in some cases, certain NA areas have seen an average sold price decrease nearly 50%! You must be careful when reading reports that do a broad stroke of the entire Naples' market rather than specifically calculating each given area. Websites like Zillow.com, as an example, are often times inaccurate since they cannot make distinctions when doing an analysis. If you are either a buyer or a seller in the Naples area, please allow The Harris-Peppe Team an opportunity to do a comprehensive study of the area where you are looking to buy or sell. Let our experience assist you in making an informed decision in today's real estate market. *all info was received from the SunshineMLS system and is deemed accurate. Statistics based on activity in Naples Areas only.