2006 - 2007 SALES and PENDING

Naples Season Sales Off 7.7%, Prices Down 10.6%

This morning I pulled year to date Naples, Florida statistics from Sunshine MLS (the local MLS system) to determine how the 2007 season compared to 2006. I compared numbers from January 1 to May 31 for each year and found the following:
Number of Pending Sales
2006: 2651
2007: 2448 DOWN 7.7%

Median Price Average:2006: $443,300
2007: $396,440 DOWN 10.6%

So what does it mean? These numbers are no where near the poor pending numbers when comparing 2006 to 2005, a time where pending sales dropped 53.1%.
Even better news is pricing, 2006 to 2005 had seen a gain in median prices by 27%, however we have only given 10.6% back.
This market rewards sellers who price their property correctly and severely penalizes those who don't.
With residential inventory over 11,000 units, buyers can find great value if they do their homework.
Of course I recommend hiring a Realtor, our value is really apparent in a normal market like today

.Joe BallarinoPresident & FounderAmerivest Realty