The inventory of available residential properties listed for sale in Naples declined by 17% in 2011 from the previous year. In 2011, 7,581 properties were available for sale, down from 9,145 in 2010. In the sub-$300K price range, inventory levels declined by 21%.
The key drivers in the inventory reduction are increased 2011 sales across many key market segments. In the luxury sector over $2M, sales increased 12% with 223 transactions in 2011 up from 199 in 2010. Overall closed transactions were up 5% in 2011, increasing to 8,280 in 2011 from 7,893 in 2010.
Naples condo sales were up 7% in 2011 with 4,200 closed transactions, up from 3,907 in 2010. The largest gains in sales in the condo market were in the $1M - $2M range which increased by 31% in
Located in north Naples, the Dunes is a luxury community featuring seven high-rise towers and lake-front coach homes. The Dunes condos feature breath-taking views of Turkey bay and the Gulf of Mexico. The Dunes is just steps Delnor-Wiggins, Pass State Park, a top-10 rated Florida beach.
Real estate activity was strong in 2011 at the Dunes with 54 transactions throughout the year. The most expensive Dunes sale was a 4 BR / 3.5 BA / 5,605 SF penthouse condo at Grande Dominica which sold for $2.25M / $401 SF. The lowest priced unit to sell at the Dunes in 2011 was a 3 BR / 3 BA / 2,187 SF condo at Antigua in Island Cove which sold for $398,000 / $182 SF.
If you are interested in learning more about the Dunes, here is a resource to view active Dunes real
The most expensive condo to sell in Naples in 2011 was for $6.625M at the Regent in the Park Shore neighborhood. This beachfront unit featured 5 BR and a den and 8,256 Sq. Ft of living space and included furnishings and three garaged parking spaces. Park Shore dominated the luxury condo market with four of the top ten transactions, followed by Bay Colony and Vanderbilt Beach with two transactions each.
The Naples luxury condo market was robust in 2011 with 229 condos selling for $1M or more. Here are the top ten 2011 Naples condo sales: