When comparing sales trends from 2009 to 2010 – this year is up in numbers across the board. The most glaring statistic is the Naples real estate sale trends taking place in the first quarter of 2010. As we approach the halfway mark of 2010, we see Naples home sales are climbing – and at a record pace.
The average number of Naples real estate sales per month is 673. In the last few months, we exceeded this average. You can see in the graphic the blue trend line continues upward. There is no evidence this is going to change anytime soon. This graphic accounts for all residential transactions, including Naples homes for sale and Naples condos.
If you take a small sampling of sales to see what is happening, the first half of the most recent month, may 2010 provides a snapshot of sales trends by type. In the first 15 days of the month (5/1/2010 to 5/151/201) – or the first half of the month – there were 285 sales. Of those 285, 186 were regular non-distressed resales. This is evidence that although the distressed market is fueling sales (we will speak to this next), the non-distressed market remains healthy representing 65% of sales. Keep ion mind that sales are up across the board – distressed or not, so 65% still outweighs years past without the bank owned foreclosures and bank approved short sales adding to the totals.
The non-distressed market remains healthy – but terrific values are being found by buyers concentrating on the deals bank owned homes and condos as well as short sales present. The REO bank owned Naples foreclosures are priced so low to begin with that the final sales price is at asking (on average). Naples bank approved short sales are presenting such great deals as well that their final closed sale price is at about a 5% discount from what the property was listed at. Contrary to this, on regular non-distressed sales, buyers are realizing about a 10% discount from asking – this figure down from last year when the average was about 93% of list or asking price.
