Naples, FL is a newcomer to the Top 10 Turnaround Town list this quarter, powered by a 13.38 percent year-over-year increase in median list prices, seventh best in the nation overall, and a 35.94 percent reduction in for sale inventory. The median age of inventory in Naples is down 13.64 percent compared to a year ago. Demand in Naples, FL has been fueled by foreign buyers as the MSA attracts 6 percent of Florida?s international sales. While not everyone is bullish on Naples, sales are up and prices are moderating. The latest sales data from the Naples Board of Realtors confirms that the market is in the midst of change, but moving in the right direction. Sales of November single family homes are up 8 percent from November 2010 but sale prices are down 13 percent. Inventory is down 21 percent from a year ago.
“This past year, in general, has been swift for buyers putting pen to paper, however since our season (generally Christmas time through Easter) has started, our buyer clients have been intent on getting something under contract. This is a different perspective than many of our clients had last season. Our last two listings went under contract in 30 days and both closed for 97% of asking price,?said Rowan Samuel, Realtor. ?We have been saying this all along; if you are priced competitively to the market, your home will sell. The inventory in our area continues to decrease, and the presence of short sales and foreclosures has reduced dramatically. In some of the more popular areas, we have not seen a distressed sale enter the market in months.” Read the full article on realtor.com