This according to Naples area Realtors in a report and press release issued Friday March 12, 2009 and also reported in the Bonita Daily News (an edition of the Naples Daily News). The headlines from the press release read:
PENDING SALES AT A THREE YEAR HIGH
Report Shows Inventory Declines 7.6%
The graph is from my monthly real estate market update that you may read on my website (more a fews blog down, data from SunShineMLS). I publish this monthly and if you would like it sent to each month just register, the form is at the bottom of the page. Scroll down in my blog to see the actual Naples-area statistics for closed sales over the past two-years. It's important not to look at trends in too small of a time frame. Looking at the past twelve months is not nearly enough for a good picture of what's going on.
Anecdotal comments in the press release and confirmed with my own experience tells of multiple offers on the same property and over listing price offers in desirable areas such as Park Shore and the Moorings.
My own research for single-family home in the Naples area shows that 55% of the sales are $300,000 and less while 65% of the sales are $400,000 and less. Prices are down, sales are up.
A very important data point reported in the sub-headline is the inventory decrease. This is very good for the market as this will point toward more stabilized prices (the bottom?).
