August numbers for Naples FL real estate confirmed what we already knew - that pended sales were definitely impacted by the oil spill news. The good news is that even though there were fewer sales this August than in 2009, it was still the second highest number of sales for the month in the ten years for which we have data.
Total inventory in the combined Naples, Bonita Springs, Estero market is at its lowest level in four years. Available supply of units is down 29% from its 2007 high. Although the number of new listings being placed in inventory during the month was up slightly from the prior year, listings taken year-to-date remain behind last year.
Activity through the first 13 days of September has increased, and written sales are well ahead of the same period for September 2009 at this point.
John R. Wood Realtors remains Number One in Closed Volume in the market! Congratulations to a great sales team and support staff!
The number of closed sales through August is up 21.5% over the same period 2009, and second only to 2005 during the past ten years.
Closed volume is up 31.6%.
Average sales price year-to-date August is at its lowest level since 2001.
Closed sales for the month of August are down 12% from August 2009.
Pended sales units for the month of August were down 17% from August 2009.
The total number of sales pended year-to-date August are the highest since 2005, and are up 8% over the same period 2009.
Pended sales priced over $1,000,000 are up 33% for the first eight months of 2010 when compared with the same period 2009.
The number of new listings taken in August is up 6% over August 2009.
The total number of new listings taken year-to-date is the lowest for the period since August 2005.
Total available inventory in the Naples, Bonita Springs, Estero market on September 1, 2010 stands at 9, 814 units (4,998 condominiums and 4,816 single family homes). This represents a 6% decrease from September 1, 2009, and just under a one year supply based on the past 12 months absorption rate.
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Garren Grup is a Real Estate Consultant, REALTOR®, ABR, GRI, CDPE, SFR
"The source of this real property information is the copyrighted and proprietary database compilation of Sunshine MLS, LLC. Copyright 2010 Sunshine MLS, LLC. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it." SunshineMLS covers Collier & Lee Counties in Florida.