November Home Sales Review

Naples November Home Sales Review

November Home Sales in the Naples area increased 3 percent year-over-year, according to the November 2017 Market Report released by the Naples Area Board of REALTORS® (NABOR®). On the flip side, when comparing this November to last November, homes sales for the month declined by 9 percent down to 521 properties sold. The decrease in sales is predominantly due to the ongoing recovery effort from Hurricane Irma. Many homeowners took their properties off the market to make minor repairs and htye are waiting for season to official kick off in January before they put their homes back on the market.

Naples November Home Sales Year-Over-Year Highlights:

Pending Sales increased 3 percent for the 12-months ending November 2017
Closed Sales increased 3 percent for the past 12 months ending Nov. 2017
Median Closed Price increased 4 percent for during the last 12 months
Inventory decreased 7 percent during the 12-months ending 11/2017
Average Days on Market increased 15 percent year-over-year

November 2016 versus November 2017 Naples Market Review:

Closed sales fell 9 percent down to 521 in November 2017 compared to November 2016
Single Family home sales increased 1 percent up to 271 in Nov. 2017 compared to 2016
Condo Closed Sales fell 18 percent down to 250 this November compared to last November
Pending Sales rose 2 percent up to 728 during the same time period
Total Inventory decreased 7 percent to 5,322, down from 5,733 last year.

Ultimately, inventory continues to tighten. As a result, home prices continue to rise. Additionally, although sales activity was down in November, local brokers say the demand for million-dollar homes continues to be strong. Sales in the $2 million and up price segment increased 21 percent for single-family homes and 22 percent for condominiums for the year. And, November had a 63 percent increase in pending sales for single-family homes over $1 million. Clearly, Naples is a highly desirable location for luxury buyers.

Tax Reform:

The impact of tax reform may have a positive impact on real estate activity in the greater Naples area. With no state income tax and low property taxes, Naples becomes an even more attractive place to relocate or buy a second, third or fourth home.

Begin Your Own Property Search:

So, if you’re ready to begin your property search, I encourage you to explore my website to find information about communities in Southwest Florida. If golf is your game, I specialize in golf community real estate and would be happy to help you navigate the more than 100 different golf communities in our area. If you prefer a more direct approach, I will provide a list of properties that meet your criteria and/or communities that meet your needs.

Bottom Line:

If you are buying a home in a golf community, you will find it’s more complex than a typical home purchase. As you can probably imagine, there are significant differences between golf communities. There are many different fee structures, membership options, pet restrictions, demographics and many other details that apply to the SWFL golf communities.

Also, if you are considering new construction, remember the contractor’s real estate agent represents the builder’s best interest, not yours. There is no cost to you to have an agent represent you. In fact, I may be able to help you save money and negotiate for extras which the builder may not let you know about.

If you’re looking for information about a specific community in Bonita Springs, Estero or Naples, please contact me and I will prepare a custom market report for you. I will provide the market information and insights to help make sure you select your dream home!

Lastly, I will handle all contract negotiations for your property from offer to close!