NABOR report shows prices over $300,000 have stabilized

Over the past 12 months, the median sold price for properties over $300,000 has increased and the upward trend continues, according to a report released by the Naples Area Board of Realtors, which tracks home listings and sales within Collier County (excluding Marco Island).
"In the category of homes valued over $300,000, the median sold price increased 1 percent in the past 12 months, indicating that prices have stabilized in that category. In the under-$300,000 category, foreclosures and short sales continue to influence home prices as the median sold price decreased 17 percent," according to Phil Wood, managing broker of John R. Wood Realtors. For the 12 months ending October 2008, the median sold price for properties over $300,000 increased 1 percent to $566,000, compared to $558,000 for the 12 months ending October 2007.
The report shows the average days a property is on the market has decreased for single-family homes and condominiums.
The report provides annual comparisons of single-family home and condo sales (via the SunshineMLS), price ranges and geographic segmentation. It also includes an overall market summary. Source: Florida Weekly

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