Those who follow my blog regularly know that monthly market statistics have shown a steady positive trend over the past year.
You may be surprised to learn that 2012 was a record-setting year - 2012 sits just behind the boom years of 2004 and 2005 for total closed sales in the Naples area.
Today, let’s look at a some 2012 market highlights:
- Overall pending sales were up 15% over 2011 numbers.
- Sales in the $300-500,000 price range were up 20% over 2011.
- Sales in the $500,000 - 1 million price range were up 29% over 2011.
- Sales in the $1 - 2 million price range were up 14% over 2011.
- In the 4th quarter of 2012, overall sales increased 22% over the same time period in 2011.
The market gives us important information about home pricing as well. Overall home prices are up a notable 17% in the Naples area over this time last year.
All areas of our community showed growth in sales, with Naples Beach demonstrating the largest upswing in both closed sales and home prices.
What about inventory? The number of homes on the market in 2012 was down a striking 13%. I have noted the impact of a declining inventory in past blog posts, including more buyers considering new construction, increased home prices, and the need to work closely with clients as desirable homes are listed.
These market statistics point to a bright year ahead in Naples area real estate. All signs indicate that an investment in our beautiful community brings great returns!
