HOME SALE PRICES UP 10%!
Report Shows Inventory Declines:
NAPLES, Fla.-March 18, 2011- The median closed price for single-family homes continues to rise with February statistics showing a 10% year-over-year gain. According to a report released by the Naples Area Board of REALTORS® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island), lower inventory is driving price increases and key indicators show the market firming up.
Condo pending sales increased 17% with 635 contracts in February 2011 compared to 544 contracts in February 2010.
For the 12 months ending February 2011 overall closed sales in the $1 million to $2 million price category increased 29% with 338 sales compared to 262 sales for the 12 months ending in February 2010.
Overall pending sales increased 9% with 1,223 contracts in February 2011 compared to 1,122 contracts in February 2010.
Condo closed sales increased 10% with 3,885 sales for the 12 months ending February 2011 compared to 3,535 sales for the 12 months ending February 2010.