Naples Florida Real Estate Market Remains Strong.

The Naples Florida real estate market still is continuing strong price appreciations over last year's quarter ending December 31, 2003.

(PRWEB) January 16, 2005 -- Prices for the 4th quarter shows 38% price increase in condominium market.

Naples Florida
Condominiums - In the 4th calendar quarter of 2003, 899 units were sold for an average price of $359,999 with the median price at $193, 480. During the 4th quarter of 2004, 847 units were sold for an average price of $448,856 with the median price of $267,000. Based upon the median price prices have increased about 38% over 2003. This is appreciation of the median priced condo is consistent with the 3rd quarter results of about 36%.

Single family homes - In the 4th quarter of 2004, 855 homes were sold for an average price of $504,281 with the median price at $280,000. During the 4th quarter of this year, 937 homes were sold for an average price of $565,898 with the median price of $350,000. The median priced home has increased about 25% over the 3rd quarter of 2003. The increase is better than in the 3rd quarter where the price increase was about 16% over 2003.

Bonita Springs Florida
Condominiums - The 4th quarter of 2003, 150 units were sold for an average price of $292,761and with the median price being $204,500. For the 4th quarter of 2004, 222 units were sold with an average price of $204,500 and median price of $265,250. The median price of a condo in Bonita Springs has increased about 29%.

Single family homes - 2003, 169 homes were sold with an average price of $473,586, with a median price of $324,900. In 2004, 205 homes were sold for $475,555 and the median priced home was $315,000.

Looking at more detail information, both the average sized home and median sized home in the 4th quarter of 2004 were smaller than those sold in 2003.

Estero Florida
Condominiums - In 2003, 34 units were sold for an average price of $201,226 and median price of $208,250. In the 4th quarter of 2004, 66 units were sold with an average price of $215,184, while the median price was $202,500. While the price for the median priced condo in Estero was lower, the median sized (square feet of living area), did reflect a significant drop from 1,551 to 1,316, which does reflect an increase in the price per square foot - $134 versus $154.

Single family homes - 40 homes were sold in the last calendar quarter for an average price of $316,382 and median price of $300,000. In 2004, 81 homes were sold where the average price was $683,911 (this reflects some West Bay Club homes - none were sold last year), the median price was $350,000.

For more detail information, please visit http://restats.adeltarealty.net.

Statistics were compiled from the SunshineMLS covering Naples, Bonita Springs and Estero.

Analysis by Glenn M. Ginsburg, Real Estate Broker, A Delta Realty of Naples Florida.

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