There were 1,570 Active listings in North Naples in the month of April. Of those, 238 homes sold which is a decrease of 11% when compared to April of 2015. At the same time, inventory increased by 41% compared to April of last year.
The average days on the market was 75 days which is an increase of 6% when compared to last year, but is no where near the 173 days it took to sell a home back in 2012 and 2013.
Pending sales were at 290 which is also a decrease of 10% compared to last April. The pending ratio is approximately 16% which is 238 out of 1,860 and included the supply and demand of the market. Specifically, a higher ratio means listings are in high demand and quickly being sold. The 16% pending ratio indicates the market has balanced and we may even be headed to a buyers market heading into the summer.
Thanks to Janet Berry of Sand Castle Realty for the statistics and video.