Paradise in Demand: 2013 Solid Year for Real Estate
January 17, 2014
The Naples Area Board of REALTORS® (NABOR®) has just issued its market report for the local housing market for calendar year 2013. The report indicates that, overall in 2013, the housing market inched ahead of activity in 2012, which was itself a recovery year.
This is good news.
The title of the report is Paradise in Demand: 2013 Solid Year for Real Estate. Following are some key points:
- At 2013 year’s end, 83% of all sales were traditional sales (not short sale or foreclosures sales) vs. 74% at the beginning of the year. Non-traditional sales (short sales and foreclosures) dropped from 26% at beginning of 2013 to 17% at year end.
- Median prices for homes in the lower end (under $300,000) increased by 16%.
- Median prices for homes in the higher end ($2 million+) increased by 5%.
- Overall closed sales in both the $300,000-$500,000 and $2 million+ segments increased 27% over 2012.
- Inventory of condos decreased by 23% over 2012, while all inventory decreased in 2013 by 18% over 2012.
The report concludes that “solid incremental growth was experienced in 2013,” and that “this is a good sign that our housing market has recovered.”
For a copy of the complete report, or if you have specific questions, please call or email us: