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Naples Realtors say they’re enjoying one of their best seasons since 2005

February resale activity has shown that Naples-area realtors are having their best season since 2005. According to a monthly report made through the SunshineMLS(multiple listing service) by the Naples Area Board of Realtors(NABOR), closed sales are up 26% and pending sales grew nearly 70%. Realtors report that a lot of people are out there looking AND buying.
The market and the median price of sales is being driven by foreclosures and short sales. In February the median home price was $188,000, a more than 42
percent drop from the $326,000 a year ago. Last year 312 single-family homes and condos were sold in the Naples area and this year 393 units were sold
and 277 of that total went for less than $300,000. Most of the sales have been in North Naples,followed by East Naples.
586 of the 808 pending sales in February are priced under $300,000 and 96 fall in the $300,000 to 500,000 range and 19 are under contract for $2 million-plus.
Higher priced homes are moving even though sales of these homes are lagging behind last years sales. A low interest rate of about 5% is helping to spur sales.
Realtors continue to expect good things in the coming months. In the Naples area, the inventory of homes on the market continues to drop with the rise in sales.
The Marco Island and Ft. Myers areas are also seeing the same trends.