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December 2011 Closed Sales and Average Sale Price both increase over 2010

Closed Sales

Closed sales units in 2011 increased 5% over 2010, and are up 104% from their 2007 low. Closed sales above $1,000,000 are up 12% with 706 closings in 2011 vs. 630 in 2010. Average sales price has increased 7% since 2009 while median price has remained stable.

Pended Sales

Pended sales in December were approximately the same as December 2010 with less than a 4% difference. Pended sales above $1,000,000 were up 7% for the year. Properties priced below $500,000 showed a 5% decline in pended sales over prior year.

New Listings

The number of new listings placed on the market in 2011 is down 13% from 2010. New listings for the month of December are the lowest for the month since 2004. Available inventory on January 1, 2012 in the combined Naples, Bonita Springs, and Estero markets stand at 7,896 units (4,264 condominiums and 3,632 single family homes). This represents a 23% decrease from January 1, 2011.