Are you browsing Naples real estate online? 

 

See a home listing that catches your eye?

 

Wonder exactly what’s happening in the Naples real estate market these days? Is that eye-catcher a good deal, or should you hold out for something better? 

 

Every month, the Naples Area Board of Realtors issues a market report that provides more information about the Naples real estate market than you can imagine. A look at this month’s report gives us some information that may help with your decision about that eye-catching home listing. 

 

Home inventory - the number of homes listed for sale - is actually up slightly, especially in the single-family home market.  And overall sales numbers are stable, when compared to this time last year. Hidden within that “overall” number, however, is an increase in pending sales for luxury homes priced between $1 million and $2 million. Here, we see strong growth, with pending sales up 27% over last year’s numbers. 

 

What’s changing, too, is home pricing. Overall median closed price of homes in Naples increased 15% over last year. 

 

What does this mean for buyers? These distinct trends stand out: 

  • Single-family home shoppers may discover a bit more to choose from right now,
  • Prices continue to move up,
  • Competition for the most desirable homes in our luxury market is strong, and 
  • Homes under $300,000 continue to move fast. And here, the inventory of available homes is down significantly - down 20% over last year, and down 42% from 2013. There’s no shortage of buyers for properties under $300,000! First time buyers, investors, retirees….all would love to own a piece of paradise!

The bottom line is this: Whether you are looking for an affordable home or a luxury property, there isn’t much time for serious buyers to shop around. If you spot that eye-catching home online or in your travels around Naples, you’ll need to move faster to submit an offer to get ahead of other potential buyers who are looking at the same property.

 

So if you are browsing Naples real estate online…if you see a home listing that catches your eye…don’t delay! Move quickly and give me a call!

 

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