September Market Report: New Listings Absorbed by Buyer Demand
Naples, Fla. (October 22, 2021) – Home sales in September would have been stronger if there was more inventory, say broker analysts reviewing the September 2021 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). Historically, September is the slowest month for home sales in Naples, but the area’s reputable natural beauty and home-value potential continue to increase its desirability to home buyers. Closed sales in September decreased 18.9 percent to 914 closed sales from 1,127 closed sales in September 2020, a result of low inventory.
A decrease of 213 homes sales might seem like home buying interest is waning but consider the inventory factor. In September 2020, there were 5,287 properties available. While in September 2021, the month ended with just 1,251 properties for sale (a 76.3 percent decrease). Comparing showing activity also sheds light on the
situation. There were roughly 23 showings per home during September compared to under seven showings per home in September 2020. Basically, more buyers are looking at fewer properties this year.
Read the full September 2021 Market Report in the flipbook format.
Contact David at David@DavidFlorida.com or 239-285-1086 to find your home in southwest Florida.
Demand for homes in Collier County kept REALTORS® busy in August,
even as inventory dropped 77.3 percent to 1,249 homes from 5,503 homes
in August 2020. According to the August 2021 Market Report released by
the Naples Area Board of REALTORS® (NABOR®), which tracks home
listings and sales within Collier County (excluding Marco Island),
REALTOR®s escorted buyers on over 30,000 home showings in August!
The month’s strong showing activity – coupled with a 76.8 percent
decrease in days on market to 22 days – means most homes were listed,
shown, and sold in less than 30 days.
Read the rest of the report here in the new flipbook format.
Contact David at David@DavidFlorida.com or 239-285-1086 to find your home in southwest Florida.
The buying frenzy the Naples housing market experienced during the past year has simmered and is being replaced with what brokers say will be our new normal: a low inventory market with fast turnover of quality homes priced right. According to the July 2021 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), inventory decreased 77.2 percent to 1,295 homes in July 2021 compared to 5,672 homes in July 2020, but demand continues to be steady as there were only 30 fewer closed sales and just a 2 percent drop in showings.
Read the rest of the report here in the new flipbook format.
Contact David at David@DavidFlorida.com or 239-285-1086 to find your home in southwest Florida.
Market frenzy is simmering down
With less than a one-month supply of inventory available, the Naples area
housing market experienced a 14.5 percent decrease in overall pending sales in
June to 1,256 pending sales from 1,469 pending sales in June 2020. Low
inventory levels in June also contributed to a 7 percent decrease in showings for
the month. This simmering of activity has broker analysts who reviewed the
June 2021 Market Report released by the Naples Area Board of REALTORS®
(NABOR®), which tracks home listings and sales within Collier County
(excluding Marco Island), certain that the wild housing market frenzy that began
about a year ago – peaking in March – is now decelerating and being replaced
with a new level of activity that reflects improved market equity for sellers and
sustained buyer interest from people seeking permanent residency.
Overall inventory decreased 78.8 percent to 1,271 homes in June from 6,003
homes in June 2020, and the median closed price in June increased 30.3 percent
to $465,000 from $357,000 in June 2020. Read the full report…
Naples Area Market Report-June 2021 – Read and learn with the New PDF format.
Contact David at David@DavidFlorida.com or 239-285-1086 to find your home in southwest Florida.
Naples, FL (June 25, 2021) – Homes in the Naples area were being sold at 99.1 percent of the list price in May. A tight inventory and buyer demand continued to push prices upward in May, which resulted in an overall median closed price increase of 29.4 percent to $433,500 from $335,000 in May 2020, according to the May 2021 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). Broker analysts reviewing the report predict continued price increases in 2021, but noted monthly showing and sales activity is beginning to show signs of deceleration from the remarkable market experienced during the first quarter of 2021.
Cash sales in May accounted for 58.4 percent of the closed sales transactions. The cash buyers continued to create challenges for competing buyers who required financing. It took an average of 90 days for a home to go from list to contract in May 2020, but in May 2021, the average days on the market was reduced to 43 days, a 52.2 percent decrease.
The May Market Report showed overall closed sales increased 164.4 percent to 1,618 from 612 in May 2020 (a month when all the world was in COVID-19 lockdown). For perspective, closed sales increased 36 percent in May 2021 compared to May 2019 (a non-pandemic lockdown month). Nevertheless, closed sales activity in May 2021 outperformed any other May in the history of NABOR®’s market statistics reports.
The NABOR® May 2021 Market Report provide comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. NABOR® sales statistics are presented in chart format, including these overall (single-family and condominium) findings:
Overall inventory fell 79.1 percent in May to 1,290 homes from 6,177 homes in May 2020, but monthly new listings activity continues. May welcomed 1,274 new listings, a 7.6 percent increase from 1,184 in May 2020. New listings that come on the market each month help to temper the drop in overall inventory and provide more opportunities to eager buyers.
Cash sales were not the only contributing factor to the drop in days on the market. Another factor was the 45 percent increase in showings for May (42,380 up from 29,319 in May 2020), which ultimately resulted in a 46.5 percent increase in pending sales for May to 1,710 pending sales from 1,167 pending sales in May 2020.
Historically, the Naples housing market’s activity in the first half of the year is not sustained during the second half of the year. However, since tourism to Florida is expected to increase this summer and buyers from foreign countries may also begin to arrive in the coming months, a return to more normalized buying behavior in the second half of the year was discussed although remains uncertain.
Contact David at David@DavidFlorida.com or 239-285-1086 to find your home in southwest Florida.
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