How’s the Naples Real Estate Market? Sales Accelerate as Season Begins

Posted on Monday, January 28, 2019

Tourist season is in full swing and real estate sales results show it – sales are accelerating. Once we clear New Year’s and a few up north cold snaps show up, real estate starts to do well here. Some caution is advised as over supply and some downward price pressures are creeping in, in some but not all areas.  Let’s take a look at the details:

• Twelve Month Average Naples single family home sold prices increase 1.35% to $822,984 from $812,000
• Twelve month Average Naples condo sold prices decreased 5.13% to $441,428 from $465,276
• Pending sales accelerated 15% to 1059 properties from 920
• Days on market increased again to 95 days from 94 days
• We expect downward price pressures in the luxury market (homes grater than $2,000,000) with inventories at 16.18 months

If you would like to compare 2018 to the prior year, here is a great information graphic from the Naples Area Board of Realtors:

Our reader’s know all real estate is local so let’s look at some specific Naples areas. Remember as a “rule of thumb”, inventories may be indicative of future prices – below 12 months prices rise, above 12 months prices drop or so the theory goes. Here are the inventory levels and the month over month trend:

• Olde Naples 14.69-  expect downward price pressure
• Pelican Bay 8.57- expect support for price increases
• Windstar On Naples Bay 12.00 – expect price stability
• Crayton Road 10.18-  expect support for price increases
• Royal Harbor 20.53- expect downward price pressure
• Port Royal and Aqualane Shores 15.43- expect downward price pressure
• Marco Island 12.23 – expect price stability

What is the point in all this inventory stuff? Inventories differ widely by neighborhood and so should prices in the short term.  Buyers and Sellers should do their homework and price AND market accordingly!

Please give us a call if you are considering buying, selling or renting – or just to provide more facts.  We would love to listen to you and help.

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