Inventory Reduces As Home Sales Increase

According to a recent report by NABOR:

• Overall pending sales increased 55 percent in the $500,000 to $ 1 million category February 2011 to February 2012

• Overall closed sales increased 70 percent in the $2 million plus category February 2011 to February 2012

• Median closed prices overall are up 5 percent from February 2011 to February 2012

• Overall inventory reduced 17 percent from February 2011 to February 2012

• Overall average DOM (Days on the Market) decreased 4 percent from February 2011 to February 2012

• Overall pending sales increased 11 percent in the $300,000 to $500,000 category and 17 percent in the $500,000 to $ 1 million category 12-month ending

• Closed sales increased 13 percent in the $ 1 million to $2 million category 12-month ending

• Naples Beach area pending sales increased 17 percent and closed sales increased 20 percent 12-month ending

The rise in home sales is a positive sign and increased sales lead to less housing inventory in the Naples area.