Naples area home purchases dominated by Canadians

November brought a total of 512 home sales and 812 new contracts for Realtors in the Naples area, the Naples Area Board of Realtors reported. When compared to the same month a year prior, this year brought a light increase in home sales, more precisely, 15 more closed sales.

On the other hand, the NABOR’s report highlights one interesting phenomenon: 80% of all homebuyers were Canadians, Brenda Fioretti commented on the report.

Second home buyers are a large part of the market, along with investors looking for bargains.

The same statistics compiled by NABOR shows that the most active price range is the under $300,0000, with 379 closed sales and 558 new contracts written last month. This is driven by foreclosures and short sales.

In the Naples area, the median price for closed sale declined $12,000 to $160,000 from $172,000 reported a year prior.

In the $1 million to $2 million price range, pending sales – or new contracts written – rose by more than 42% to 37 in November, up from 26 in the same month a year ago. There were 22 closed sales in this upper end market last month, up from 17 last year.

Posted by Istvan Fekete on Dec 25 2011. Filed under Housing. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry