Mel's Blog: Market Snapshot

With the release of N.A.B.O.R.'s (Naples Area Board of Realtors) April data report, overall sales again increased for the seventh month in a row and showed a 20% increase over the same period last year. The report also showed a 16% decline in available inventory over $300,000. Days on market declined as well, which price per square foot has begun to stabilize as well in most areas.

This certainly is more good news for the general Naples real estate market as, despite the fact that we are out of 'high season', we continue to see interested buyers and are scheduling appointments well into the summer months.

If you are interested in downloading the current N.A.B.O.R. April Report, you can find it on our website at PreviewNaples.Com.

Statistical figures for the month of November were just released by the Naples Area Board of Realtors (N.A.B.O.R.) and a bellweather or key indicator of the buyer activity in the market, overall pending sales, is up again. There was a 54% increase from November 2007 to Novenber 2008. This would mark the eighth month in a row it has increased, while days-on-market has decreased. Within the past year, the DOM has decreased some 20%.

Naturally a majority of the activity is in the under $300,000 price range because of the perceived bargains to be had in the 'short sale', pre-forclosure and bank-owned (REO) properties. Along with this, the median home price has fallen below $300,000 in some areas due to developer price incentives to move existing inventory and…