Market Update: First Quarter

Million dollar home sales in Naples continue to increase with the $2 million and above single family home market increasing 83 percent from 48 sales in the first quarter of 2013 to 88 sales in the first quarter of 2014!

Closed sales in all price categories above $300,000 increased by double digits with the $2 million and above price category experiencing the highest increase of 80 percent from 61 sales in the first quarter of 2013 to 110 sales in the first quarter of 2014.

First Quarter 2014

  • Overall closed sales increased 5 percent from 2,237 sales in the first quarter 2013 to 2,352 sales in the first quarter of 2014.
  • The overall median closed price increased 15 percent from $230,000 in the first quarter 2013 to $265,000 in the first quarter 2014. The overall median closed price of homes $300,000 and under increased 9 percent from $159,000 in the first quarter 2013 to $173,000 in the first quarter 2014.
  • Average days on market are at 95
  • Pending sales increased 45 percent for homes $2 million and above
  • Inventory for condominiums decreased 23 percent from 2,758 units in the first quarter of 2013 to 2,110 units in the first quarter of 2014, while inventory for single-family homes decreased only 3 percent from 2,378 units in the first quarter of 2013 to 2,295 units in the first quarter of 2014.
  • Cash sales were 74% vs. 26% financed sales

Market-Update-Graph1

By: Doug Grant

Doug Grant and The Grant Group have been ranked the #1 Coldwell Banker Team in FL and amongst the top 100 teams in the U.S. by NRT. Doug is a known local expert. He's been a resident of Naples & Bonita Springs for 37 years and has been selling prime SWFL Real Estate for 28 years.

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