In yet another sign that Southwest Florida’s housing slump has turned the corner, the Naples Area Board Of Realtors (NABOR) has released full year statistics that show a shrinking inventory of homes for sale and an increase in total sales for 2011.

8,280 homes and condominiums traded hands in the Naples area in 2011, an incease of 5% from the previous year’s 7,893 closed sales. One of the largest increases came in the $1 million and over market where 223 properties sold in the past twelve months compared to 199 in the preceding year.

With the increase in sales, the number of homes actively listed for sale has dropped considerably in the past year. There are now 7,581 homes and condominiums listed on the multiple listing service for the Naples area, down 17% from the 9,145 being marketed at the end of 2010.

Median price, at which half of the homes sold for less and half sold for more, finished 2011 at $175,000, down from $180,000 one year earlier. The all time high median price for the Naples area topped $500,000 before prices plunged at the end of 2006.

If you’re interested in learning the value of your home today, or how prices stack up in your specific neighborhood or community, call Jim anytime at 239-273-3833.