Naples Condos Market Report

The Naples condominium real estate continues to show improvement.

The year over year analysis shows:

• Last November 705 condos were listed for sale. During November of this year 615 condos were listed for sale. The reduction is 90 less condos coming on the market.
• In November 2007 a total of 93 condos were sold. This year in November 214 condos were sold - an increase of 121 units! A percentage increase of an outstanding 130 percent.
• The pending sales increased from last November's 144 to 392 pending sales in November 2009. This represents an increase 172 percent!
• This November the median sold price declined from last year's $195,000 to $155,000. The decline was about 21 percent.

November 2009 ended with 4115 Naples condos for sale versus last year's 5,079. These figures represent 17.9 and 30.1, respectively, months of inventory to be sold

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Naples Real Estate Market

Quick overview of the Naples real estate market:
1) New listings for November were 653 down from last year’s figure of 819 or roughly 20% fewer homes coming on the market.
2) Pending sales for November were 483 up from last year’s figure of 255 or roughly 89% more homes going under contract.
3) Closed sales for November were 273 up from last year’s figure of 211 or roughly 29% more homes sold.
4) Median sold price for November was $210,000 – surprisingly up from last year’s $204,000 or roughly an increase of 3%. This could be a very positive sign of the market having achieved the bottom.
5) Months of inventory as of November 30th was 11.5 months, down from last year’s 25.7 months or roughly a decrease of 55% in months of inventory to be sold.

Summary – the real estate market remains a buyer’s market with positive signs of the market improving greatly over last year, therefore, it is a weaker buyer’s market than last year.

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