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…
Contact David at David@DavidFlorida.com or 239-285-1086 to find your home in southwest Florida.