Has The Naples Market Hit Bottom?

Since the mid 2005, the Naples Florida real estate market has been in a steady decline in terms of number of transactions and buyers have been hesitant to purchase waiting to find the market bottom. So are we there yet?


Let's look at the most recent graph of Pending Sales to get a best guess of where we are today:





























While the number of pending sales is still below the previous year's numbers, we have certainly moved strongly above the trend line for the first time in 2 years. This should be an indication that we are leveling off or near a bottom.

I don't think we can call a bottom until it passes!

We'll know we missed it when this year's numbers exceed the prior year and if a buyer was to wait for that indication then they would have missed the bottom.