NABOR Reports Second Quarter Statistics

NAPLES - The Naples Area Board of Realtors® has released second quarter 2007 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 as of June 30, 2007, were 4,497, falling below the 5,213 reported in the second quarter of 2006, and below the 5,885 new listings reported at the end of the first quarter 2007. A reduction in the number of new listings may ultimately provide some relief to what has been at times a saturated market.


Pending sales during the second quarter of 2007 were reported at 1,261, down from 1,390 reported in the second quarter of 2006.


There were 1,300 closed sales reported at the end of the second quarter of 2007, a drop from the second quarter of 2006 which reported 1,406 closed sales.


The median sales price of homes sold during the second quarter of 2007 was $390,500. 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. The median price of homes sold in the second quarter of 2006 was reported at $430,000.

Median pricing is holding steady, continuing an upward trend line over the long term. In comparison to both the national and state real estate markets, Naples remains relatively stable, a reflection of intrinsic real estate value.

Inventory: As of July 1, 2007, there were 10,974 active listings on the market. With 4,030 homes sold in the previous 12 months, it is calculated that the current inventory represents a 33-month supply, below the 35-month inventory calculated at the end of the first quarter of 2007.

The calculation of months’ supply is derived by dividing the total number of listings at the beginning of the month (Supply) by the number of sales which closed over the past 12 months (Demand). This way we normalize the data by utilizing the prior rolling 12 months closing statistics (Demand). This methodology illustrates a more realistic trend which takes into account market seasonality. After we calculate the years supply, we then multiply the years supply times 12 to get the months supply. This is the current method used by Hanley Wood Market Intelligence.