Single Family and Condo pending sales in the 1 million to 2 million-price segment increased 200 percent in April!!!!
We should know, Moraya Bay had 5 new pending and sales contracts in the last two months!
NAPLES, Fla.-May 14, 2010- The Naples area market is seeing positive signs such as soaring sales and median closed price increases 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).
The overall median closed price increased 22 percent from $170,000 in April 2009 to $208,000 in April 2010. This is the second consecutive month that the median closed price has increased. For properties over $300,000, the median price increased 3 percent from $534,000 in April 2009 to $550,000 in April 2010.
“Supply and demand is driving the price up from the low end of the market,” said Mike Hughes, Vice- President of Downing-Frye Realty.
“Traditional sales outpaced distressed property sales two to one,” stated Brenda Fioretti, NABOR President, and Managing Broker of Prudential Florida Realty. “This is a good sign of stabilization.” Traditional sales made up 69 percent of the total number of closed sales in March 2010.
The report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. The statistics are presented in chart format, along with the following analysis:Overall home sales increased 46 percent to 914 sales in April 2010 compared to 626 sales in April 2009. Properties under $300,000 saw a 25 percent increase in pending sales with 882 contracts in April 2010 compared to 706 contracts in April 2009.
Single-family pending sales saw a 27 percent increase with 691 contracts in April 2010 compared to 544 contracts in April 2009.
Condo sales saw a 69 percent increase with 507 sales in April 2010 compared to 300 sales in April 2009.
If you try to time the market….You are always too late!
information copied from NABOR