Market Update – Naples Area Board of Realtors

4-19-2011

Inventory declined eight percent and median closed price for properties over $300,000 increased in the First Quarter of 2011 compared to the previous year.  The March report shows that overall home sales increased by 5 percent from March 2010.

Statistics for the First Quarter of 2011:

• Overall pending sales saw an 8 percent increase, with 3,630 contracts in the first quarter of 2011 compared to 3,346 contracts in the first quarter of 2010.

• Single-family pending sales increased 6 percent with 1,763 contracts in the first quarter of 2011 compared to 1,667 contracts in the first quarter of 2010.

• Condo sales increased 7 percent with 1,114 sales in the first quarter of 2011 compared to 1,042 sales in the first quarter of 2010.

Statistics for March 2011:

• Overall home sales increased 5 percent to 936 sales in March 2011 compared to 890 sales in March 2010.

• Overall single-family pending sales saw a 6 percent increase, with 732 in March 2011 compared to 689 in March 2010.

• Condo sales saw a 17 percent increase with 525 sales in March 2011 compared to 447 sales in March 2010.