Solid First Quarter Home Sales in Naples Area

It was a busy winter season for Naples area Realtors as evidenced in the First Quarter 2017 Market Report released by the Naples Area Board of REALTORS. As predicted by earlier broker analysts, once sellers began to heed Realtors advice to reset their offerings to more reasonable list prices, buyers began buying again. The quarter began with a slow January, but picked-up as pricing moved closer to buyer expectations. In addition, the rumor among the professionals is that many winter visitors plan to return to the marketplace for home purchase selection during the coming summer months. Quarter over quarter, the report showed overall median median closed prices increased by only 2%, driven by a small 3% rise in the $300,000 and below price segment. All other segments revealed slightly lower prices or no movement, except for single-family homes priced between $300,000 and $500,000 that reported a rise of 14% in prices paid. Other data of note included an 11% rise in the total number of homes under contract; a 13% increase in the number of active listings; 19% rise in the number of condominiums that were sold and a 1% drop in the single-family average price.

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