Naples Real Estate Inventory Remains Low |October 2014 Newsletter

Naples continues to have low real estate inventory…
houseonarockThe Third Quarter NABOR (Naples Area Board of Realtors) market report shows that limited inventory is still the case in Naples.  This tight inventory affected sales activity as demonstrated by a 10 percent decrease in pending sales and an 11 percent decrease in closed sales.

The second quarter report indicated that Low Inventory of homes in the Naples area would continue, and it has.  Even though there has been a reduction of pending and closed sales in the 3rd quarter of 2014, realtors across Collier County reported being very busy with the growing demand.  This may be a result of the market  experiencing an influx of new home construction that, while not reported in the Southwest Florida MLS, has replenished the void resulting from a decreased inventory in the resale market. Below are key statistics:

-Pending sales of single family homes over $2 million increased 26%

-Pending sales of condominums between $1 million and $2 million increased 29%

-Overall closed sales in the $1 million to $2 million category increased 14%

-Overall inventory decreased 9%

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sothebys

4001 Tamiami Trail North, Ste.102
Naples, Florida 34103
Phone: 239.659.0099
Cell: 239.571.5339
jutta.lopez@sothebysrealty.com www.JuttaVLopez.com