NAPLES - The Naples Area Board of Realtors® has released fourth quarter statistics for home listings and sales in Naples, utilizing the Board’s local reporting format.
In this report, only sales of homes within the Naples geographic area are being shown - specifically all areas in Collier County excluding Marco Island and other outlying areas - to reflect an accurate and relevant portrait of the local real estate market.
A summary of the statistics is presented in graph format, along with the following analysis.
New listings are up from third quarter reflecting both sellers’ renewed confidence in the market as well as new investor/developer units being added to the marketplace. However, they remain well below the peak of first quarter 2006 and are not likely to reach that level again.
Pending sales are holding steady with a slight increase, reflecting a stabilization of the market and confirming reports of improved activity since Nov. 1.
Closed sales were down in third and fourth quarter following an upward swing in the second quarter of 2006, but should begin climbing again as closings begin to reflect the pending sales from late 2006.
The overall trend for median pricing is holding steady with an upward trend line, reflecting the long-term value of Naples properties. The figure is significantly higher than 2004, although below the record numbers of 2005. The recent short term down trend in median sold price is likely indicative of some over-extended investors electing to unload the properties at discounted prices.
The median refers to the middle value in a set of statistical values that are arranged in ascending or descending order, in this case prices at which homes were actually sold. It should be noted that in any given period the median can vary greatly if there is an anomaly, a single sale that is significantly higher or lower than other properties in the area.
Inventory: 11,000 (approximately an 18-month supply, calculated by dividing the inventory by the average number of closed sales per quarter projected to an annual basis.) Active (active and active with contract status) residential inventory in all Naples areas as retrieved from SunshineMLS. As the number of pending sales increase in 2007, the computation of projected supply will fall closer to a one-year supply, which would be considered normal levels.
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