FOR IMMEDIATE RELEASE

Contacts: Mike Hughes, NABOR Media Relations Director, (239) 261-2244 / (239) 263-4218
Marcia Albert, NABOR, Manager of Events & Marketing, (239) 216-4148

MEDIAN PRICE INCREASES FOR SECOND CONSECUTIVE MONTH

Report Shows Increase in Pending Sales

NAPLES, Fla.-May 14, 2010- The Naples area market is seeing positive signs such as soaring sales and median closed price increases according to a report released by the Naples Area Board of REALTORS® (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island).

The overall median closed price increased 22 percent from $170,000 in April 2009 to $208,000 in April 2010. This is the second consecutive month that the median closed price has increased. For properties over $300,000, the median price increased 3 percent from $534,000 in April 2009 to $550,000 in April 2010.

“Supply and demand is driving the price up from the low end of the market,” said Mike Hughes, Vice-President of Downing-Frye Realty.

“Traditional sales outpaced distressed property sales two to one,” stated Brenda Fioretti, NABOR President, and Managing Broker of Prudential Florida Realty. “This is a good sign of stabilization.” Traditional sales made up 69 percent of the total number of closed sales in March 2010.

The report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges, geographic segmentation and includes an overall market summary. The statistics are presented in chart format, along with the following analysis:

• Overall home sales increased 46 percent to 914 sales in April 2010 compared to 626 sales in April 2009. Properties under $300,000 saw a 25 percent increase in pending sales with 882 contracts in April 2010 compared to 706 contracts in April 2009.

• Single-family pending sales saw a 27 percent increase with 691 contracts in April 2010 compared to 544 contracts in April 2009.

• Condo sales saw a 69 percent increase with 507 sales in April 2010 compared to 300 sales in April 2009.

• The available inventory decreased 13 percent to 9,239 in April 2010 compared to 10,574 in the same month last year.

“Single-family pending sales in the 1 million to 2 million-price segment increased 200 percent in April,” stated Jo Carter, President of Jo Carter & Associates. There were 48 contracts written in April 2010 compared to 16 contracts in April 2009.

To view the report, go to www.Naplesarea.com

The Naples Area Board of REALTORS® (NABOR) is an established organization (Chartered 1949) whose members have a positive and progressive impact on the Naples community. NABOR is a local board of REALTORS® and real estate professionals with a legacy of nearly 60 years serving 4,000 plus member-customers. NABOR is a member of Florida REALTORS® and the National Association of REALTORS®, which is the largest trade association in the United States with more than 1.3 million members and over 1,400 local boards of REALTORS® nationwide. NABOR is structured to provide programs and services to its membership through various committees and the NABOR Board of Directors, all of whose members are non-paid volunteers.