Home sales were up for the real estate market in Naples, while inventory and average days on the market were down for the year ending in May 2013. With low interest rates and low inventory, buyers made quick purchase decisions so that they did not miss out on opportunities. The lack of inventory caused multiple offers on many Naples homes and Naples condos.
There is no shortage of buyers in Naples right now, according to local real estate agents. It is an ideal time for sellers to list their homes. Since last year, days on the market decreased 16% from 191 days to 161 days in May 2013.
The median price of sold homes increased 16 percent from $190,000 in May 2012 to $220,000 for the 12-month period ending in May 2013. Overall sales increased 5% over last year. Sales were up 28% for homes sold in the $300,000-$500,000 range; up 13% for homes selling $500,000-$1 million; and home sales were up 23% in the $1 million-$2 million range.