Market Demand; Naples Area Uptrend Continues
November 1st, 2013
The Naples area real estate market is outperforming last year’s third quarter activity as shown by three key real estate market indicators: sales, median closed price and inventory. The key indicators signal that the uptrend in the real estate market continues and it’s still a great time to get in.
“Demand for homes in the coastal area is driving activity in other segments due to reduced inventory,” said Kathy Zorn, Broker at Florida Home Realty, Inc. “Your average days on market [DOM] for single family homes in this coastal area went from 215 days in the third quarter of 2012 to 131 days in the current third quarter. That’s a 39 percent decrease of days on the market, and the DOM decreased a whopping 62 percent from 249 days in September 2012 to only 95 days on the market in September 2013.
“Demand is also aggressive in the condominium market regardless of location. The third quarter report shows a 31 percent increase in condominium sales overall with a 26 percent decrease in condominium inventory from 3,263 properties available in the third quarter of 2012 to 2,418 properties available in the third quarter of 2013.
On that point, Brenda Fioretti, Managing Broker at Berkshire Hathaway Home Services Florida Realty added, “As we prepare to move into season, right now is the prime time for sellers and buyers to take action. Interest rates are still very low and the days on market are projected to keep dropping.”
For answers to all of your real estate questions, please call me, Vito Bauer at 239-777-7080 or visit www.BauerInternationalGroup.com
As a REALTOR in Naples, Florida with a very impressive international client list, I am known for my incomparable market knowledge, exceptional customer service, superior negotiating skills, high-end global targeted marketing and tremendous results. I have an unrivaled reputation as a Florida Fine Homes Specialist. My expertise is in marketing and selling multimillion dollar luxury waterfront and golf course estates and other fine properties in Naples and the surrounding areas.