Friday, 18 January 2013

Naples real estate experts: housing market on the rise

The Naples area overall median closed price increased 17 percent from $175,000 in 2011 to $204,000 in 2012.

That's the remarkable percentage real estate experts kept coming back to today at the Naples Area Board of Realtors media conference.

The numbers reflect home listings and sales in Collier County excluding Marco Island.

"I think 2012 will end up being one of the pivotal years that got us going in the right direction," said Mike Hughes.

Overall closed sales increased 9 percent from 8,345 units in 2011 to 9,121 in 2012.

Overall closed sales increased 22 percent from 1,689 units in fourth quarter 2011 to 2,061 units in fourth quarter 2012.

Hughes said that increase when not as many people are here gives the area momentum going into season when Naples is packed.

Overall pending sales rose 6 percent from 10,070 in 2011 to 10,683 in 2012.

Kathy Zorn said there might be occasional clouds and rain but her prediction for 2013 is "strong and sunny."

Overall inventory decreased 13 percent from 7,581 listed properties in 2011 to 6,557 listed properties in 2012.

Brenda Fioretti said having 6,557 properties for sale on the market is the lowest since tracking started six years ago.

Wes Kunkle, the board's president, said commercial real estate is following the positive trends of the Naples housing market.

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