The first sign of a recovery in the Naples, Florida real estate market has shown itself. Pending Sales of residential properties listed above 2 million for the first 3 quarters of 2007 have exceeded the first 3 quarters of 2006:
Pending Sales 2mil+:
2006 = 250
2007 = 257
Gain = 3%
Volume = 900 million
Further analysis of median price for the market segment shows that it bottomed out in the 1st & 3rd quarters of 2005. With overall Naples inventory near 11,000, we may be looking at a market that will move from a buyer's market to a more balanced market in early 2008. Reported by Joe Ballarino, President & Founder, Amerivest Realty.
Posted by Amerivest Realty
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