Nationally, the most recent sales reports indicate existing home sales have risen by 7.6%, mostly attributed to the affordability of real estate and the home-buyer’s tax credit. In fact, over the past few months both Naples and MarcoIsland have experienced some of the best sales in four years. The strengthening of the market is being felt across all price points, especially the low-end of the real estate market.
Positive trends in Naples real estate sales are apparent from the following NABOR (Naples Area Board of Realtors) report:
Overall home sales increased 46%.
Single-family pending sales saw a 27% increase.
Condo sales saw a 69% increase.
Available inventory decreased 13%.
MarcoIsland experienced the highest number of closed sales for any month since 2005. In April 2005 there were 113 reported sales; whereas, April 2010, reported only slightly less with 107 closed sales. To summarize, MarcoIsland reported the following market statistics for April 2010 in a year-over-year comparison.
Overall home sales increased 39%.
Condo sales saw a 194% increase.
Available inventory decreased 19.97%
Pending sales decreased by 18.67%.
We are optimistic that this positive trend in sales will continue as those buyers that have been waiting on the fence jump in and purchase those properties that they have had their eye on for a while. In addition, historically low mortgage rates and increasing availability of financing offer further incentive for home buyers, that along with real estate prices in both Naples and MarcoIsland being the lowest level that they have in years, we look forward to the upcoming summer months with great anticipation and optimism.
