November Market Reports For Naples, Bonita Springs & Estero

The new market reports for November are out and here's the news for our Naples, Bonita Springs & Estero Real Estate Market. Below is a summary, but please "Click Here" to view the full pdf version of the report. Please feel free to contact me with any questions regarding properties for sale or if you would like to list your home in the Naples, Bonita Springs, Estero area.

CLOSED SALES
• YTD November closed sales units up 19% over same period 2007. Volume is down 9%.
• YTD closed sales under $250,000 continue to dominate the market, showing a 121% increase over same period 2007.
• Closed sales for the month of November are up 10% over November 2007.
• Median sales price is down 22.5% from November 2007.

PENDED SALES
• Pended sales in November are up 44% over prior year period.
• 64% of newly pended sales are represented by properties under $250,000.

LISTINGS
• New listings taken year-to-date November are down 6% over prior year.
• Active listing inventory on December 1, 2008 stands at 13,873 in the combined Naples, Bonita Springs, Estero markets (7,141
single family homes and 6,732 condominiums). This represents a 6% decrease from December 1, 2007.

This report represents the combined Naples, Bonita Springs, Estero market. Numbers may vary among various
areas so be sure to research individual market segments carefully.
Disclaimer: All information from Sunshine MLS. Accuracy is deemed correct but not warranted.

Naples, Bonita Springs, and Estero Real Estate Market Report.

Attached are the October market stats for Naples, Bonita Springs, and Estero markets. The good news is that inventory is lower now than a year ago. The bad news is that inventory of single family homes and condominiums priced under $250,000 continues to increase, and is higher in 2008 than 2007. Since many foreclosures and short sales fall into this segment, it is likely that this will not change in the near term. Other than single family homes over $5 million, which also shows an increase, all other price segments have decreased from 2007 levels. Since October and November are typically the time of year when listings increase, it remains to be seen whether the pace of sales will also increase and extend this trend.

Also in the category of good news for the market is the ratio of pended sales to new listings taken. Year-to-date October 2007, there was one sale for every four new listings taken. In October 2008, that ratio has improved to one sale for every three new listings taken.

Excellent opportunities abound in the market and now is the time to take advantage of them. Be sure to ask John R. Wood agent Ed Gongola for specific information about communities you may be considering, or about your own community if you are thinking of selling.

Email me for a printable version of the report:

ed@edgongola.com