Closed Sales are up in February 2012; March activity shows no signs of slowing down

Listed, Pended, Closed Year to date February 2012

Listed, Pended, Closed Month of February 2012

Breakdown by Price Category Year to date February 2012

Closed Sales. In this month’s John R. Wood Market Report, closed sales priced above $1,000,000 continue to rise with 49 closings in Feb compared to 42 closings this same time last year. During the first two months of 2012, median sales prices are at the highest level for the same period since 2008. Additionally, properties priced between $500,000 and $750,000 posted the biggest gains over prior year with a 30% increase over year-to-date 2011.

Pending Sales. Regarding pended sales, February 2012 is the third highest on record for the month. The number of pended sales between $500,000 and $1,000,000 is up 31% over first two months of 2011; the largest increase of any segment.

Listings. The number of new listings taken in February is the lowest for the month since 2005. On March 1, 2012, available inventory in the combined Naples, Bonita Springs and Estero market stands at 8,059 units (4,336 condominiums and 3,723 single family homes). This represents a 9.2 month supply based on the number of closings in the past 12 months.

“The source of this real property information is the copyrighted and proprietary database compilation of Sunshine MLS, LLC. Copyright 2012 Sunshine MLS, LLC. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it.”

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