Naples Area Inventory Down 26%; Closed sales up 5%

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2nd Qtr Housing Review for 2011

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Last Month's eNewsletter

Closed Sales
The number of closed sales in August remains approximately the same as August 2010 and is the third highest for the month in 11 years. The year-to-date closed sales are up approximately 5% and volume is up 6.5%. Sales of properties priced above $1,000,000 are up 11% through August (545 in 2011 vs. 489 in 2010).

Pended sales remained approximately the same in August as July. Although pended sales for August are among the lowest for the month, a rolling 12 month comparison (8/1/10 - 7/31/11) ranks them among the highest on record for this period.

New Listings
The number of properties placed in inventory during August is 12% lower than August 2010. Available inventory in the Naples, Bonita Springs, and Estero markets stands at 7,263 units (3,913 condominiums and 3,350 single family homes). This represents a 26% decrease from August 2010. Overall inventory represents approximately an eight month supply based on the number of closed sales during the past 12 months.

See the August end-of-month Housing Report or the Neighborhood Report at end of August.

For those seeking Naples Beach & Waterfront condos, view the Gulfshore Blvd 2nd Quarter Report for 2011.

***Profiles of New Construction Developments & Homes in the Naples & Bonita Springs Area Here***

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