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2nd Quarter Naples Florida Market Report 2013

Market Review – Second Quarter 2013
for Naples, Bonita, Estero Market Areas

Market Report Q2 2013-exhibit 1

Market Report Q2 2013-exhibit 2

NEW LISTINGS AND PENDED SALES
The number of new properties placed on the market in the second quarter is comparable to Q2 2012, and the lowest for the quarter since 2004. Pended sales for the quarter exceeded the number of new listings placed in inventory for the first time since John R. Wood Realtors® began tracking this ratio in 2004. Although all pended sales do not close, this is the best leading indicator of the current and near-term market. (Exhibit 1) All price segments reflect the diminishing supply with the exception of properties priced above $5,000,000, which have remained stable for the quarter for the past three years. (Exhibit 2)

Market Report 2ndQtr 20133

CLOSINGS AND AVERAGE SALES PRICE

Second quarter closings increased from the previous period for the sixth consecutive year. Average closed price for the second quarter ($466,548) is up 34% from its low for the quarter in 2009 ($347,366), but remains 35% below the 2006 peak for this period. (Exhibit 3)

Market Report Q2 2013-exhibit 4

INVENTORY/CLOSED SALES/MONTHS OF SUPPLY
Inventory of product for the quarter has steadily decreased from Q2 2007 to Q2 2013 while the number of closings on a 12-month basis has steadily increased. The result is a decline in months of supply from 33 months in Q2 2007 to its current level of 5 months. (Exhibit 4)

SUMMARY
Sales above $1,000,000 remained brisk, posting the highest number of closings in this segment for any quarter since Q2 2005, when there were 510 closings. Properties priced under $500,000 had the largest reductions in inventory and continue to be in high demand as prices escalate.

“The source of this real property information is the copyrighted and proprietary database compilation of Sunshine MLS, LLC. Copyright 2013 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.”