Naples Home Sales Rise 5th Month in a Row

More buyers are getting back into the game. As home prices continue to drop in the Naples area, sales are rising and inventories are falling. In June, total sales rose by 9 percent to 471, from 431 a year ago.Meanwhile, the inventory of homes shrank to 10,837, from 11,602 last year, according to a monthly report by the Naples Area Board of Realtors.

Pending sales have increased and available inventory has decreased for the past five months. Pending sales increased 63 percent to 494 in June, up from 302 a year ago. For single-family homes priced at less than $300,000, pending sales rose a whopping 537 percent to 172 in June, up from 27 a year ago.

There were 231 sales, up from 146 last year. Of those sales, 113 were single-family homes — a 253 percent increase over the 32 that sold a year ago.All areas covered by the report, except Immokalee and Ave Maria, saw an increase in pending sales in June.

East Naples had the biggest jump to 106, from 39 a year ago. As long as interest rates remain low, Arlene Carozza, NABOR’s president, said she expects more buyers to get off the fence as prices become more affordable for more people.
Source: Naplesnews.com

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Lely Naples FL - June 2008 Pending & Closed Sale Report

11 Active with Contingency
16 Pending
22 Closed
Source: Sunshine MLS, Inc.

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