“We’ve been going through a busy period,” said Mike Hughes, General Manager for Downing-Frye Realty, Inc. “People are making purchasing decisions just before returning home after their winter visits. We’re also seeing the initial group of summer season buyers who have arrived early hoping to locate the best deals. This year our agents turned in 1,007 pending sales through April, with more than a third of them happening during the last month. Interestingly, almost half of our April pending sales were newly constructed homes in the $250-500,000 price range, many of which are being built in the eastern areas of Naples. New construction is filling the demand for inventory, which is at healthy levels.”
NAPLES AREA: STRONG MARCH SALES
An increase in the number of closed sales of homes priced under $500,000 during the last year resulted in strong March sales and a slight decrease in the overall median sales price.
BONITA / ESTERO: MARKET ON UPTURN
As of the end of March, year-to-date sales were higher than they were at the same time last year. Pending sales in new construction, pre-construction and under construction homes increased 29.2 percent. Most of the new construction is taking place in the Village of Estero area, which is experiencing a younger demographic as more families move there for year around living. The resale market is also on the upturn with year-to-date pending sales 9 percent above last year.
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