Monday August 23, 2010
The median list price in NAPLES, FL 34103 this week is $648,950.
Inventory is tightening and days-on-market is falling. But demand
as measured by the Market Action Index is also trending down. The
market is not giving strong up or down signals from these data.
Supply and Demand
The market has been consistently cool for several weeks. Demand
level are low relative to the available inventory. It’s a Buyer’s
market and prices continue to fall. Look for a persistent shift in
Market Action before prices plateau or begin to rise again.
Again this week in this zip code we see a downward notch for
prices. Pricing has been weak in recent weeks and versus their
absolute-high level. At this point, we will be looking for a
persistent upward shift in the Market Action Index as a leading
indicator for a trough in prices.