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MARKET CONTINUES TO GAIN STRENGTH
Posted by V.K. [Mel] Melhado P.A. on Sunday, October 18th, 2009 at 7:38pm.
The Naples Area Board of Realtors (N.A.B.O.R.) just released their Sepember statistical report as well as the third quarter report. As we've been saying all along, it has been a strong summer selling season with buyers trying to take advantage of the large inventory and low price points. The under $300,000 price point has absolutely been on fire and overall available inventory decreased by 14% in the third quarter.
Condominium sales have been significantly stronger with pending sales up 159% in September compared with September 2008. Also for the past six straight months pending sales in the $500,000 to $1,000,000 category have increased which means that the higher end market is beginning to rebound.
The market continues to gain strength and we are expecting a healthy upcoming season based on the number of buyers who have been specific appointments with us throughout the coming months.
V.K. [Mel] Melhado PA
Downing-Frye Realty, Inc.
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