Overall inventory of homes in the Naples area dropped 20% in the $300,000 and below category in August 2014 compared to August 2013.
The median price rose 13% in that same category.
The low inventory lead to a decrease of pending and closed sales in August in the Naples Beach area (West of US 41).
For example the inventory of condominiums for sale in the Naples Beach area ( Olde Naples, Coquina Sands, The Moorings, Park Shore & Pelican Bay) dropped 28, from 571 condos in 8/2013 to 409 condos for sale in 8/2014.
The median close price increased 7% to $530,000 in that same area.
Here are other important points of this real estate market report in Naples just released by NABOR (Naples Association Boards of Realtors):
- Overall pending sales decreased 11% in August 2014 compared to August 2013 by lack of inventory.
- Overall inventory decreased 8% from 3,875 to 3,579 in the same period.
- Average days on market: 83 in August 2014.
Source:: SWFL Real Estate