2020 Year End Review
Naples 2020 Year End Review
According to the 2020 Year End Review of the Naples housing market, we had a record setting year! Closed sales for the year increased 19 percent and pending sales increased 29 percent. As a result inventory is quite limited.
Year End Market Report Highlights
- Closed sales increased 19.4 percent to 12,300 up from 10,302 during the previous year.
- Overall pending sales increased to 16,254 which represented a 29% increase versus 2019.
- List price received – on average, sellers received 96 percent of their original list price.
- Inventory fell a staggering 49.1 percent down to 3,140 homes for sale.
- Homes with four bedrooms or more increased 37.7 percent from 1,714 in 2019 up to 2,360 in 2020.
The significant increase in closed sales and pending sales has led to a shortage of inventory. In a balanced market, there is usually a 6 to 7 month’s supply of homes for sale. Although new homes are coming to the market, it is not at a pace to keep up with demand. As a result, there’s only a 3.1 month supply of properties available on the market. With such low inventory it is a seller’s market.
If you are considering selling, now is a great time to put your home on the market. For those of you looking to buy a home, be prepared to move quickly if you see a property you want to buy.
Naples Luxury Real Estate Market
The 2020 Year End Market Report showed closed sales in 2019 increased in almost every price category. The Naples Luxury Real Estate Market, properties priced in the $2 million and above price category, led the way with a 70.9 percent increase in sales.
Additionally, 2021 is off to a strong start for the luxury market. Naples recently set a record for the most expensive home ever sold in Naples at $52 Million in Port Royal.
Begin Your Own Search for a Naples Vacation Home or Second Home:
So, if you’re ready to begin your search for your dream home or condo in Southwest Florida, we encourage you to explore our website to find information about communities in the area. If golf is your game, we specialize in golf community real estate.
There are more than 150 different golf communities in our area and most of them have a private golf course within the community. It can be challenging to navigate the plethora of communities, membership options, golf course design, amenities and more. We will help provide you with a list of the top private golf communities which match your lifestyle. View large single family homes for sale in 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 for you to have an agent represent you. In fact, we may be able to help you save money and negotiate for extras which the builder may not let you know about.
Lastly, we will handle all contract negotiations via paperless transactions for your property from offer to close!
If you want to build wealth through a real estate investment in Naples, Bonita Springs, Estero or Fort Myers, and you want a realtor who will help you achieve your Real Estate needs, please reach out to us directly. Additionally, if you are looking for a golf community expert or you are considering buying or selling a home, a luxury home, vacation home, second home, golf home or dream home, call or text 239-370-0892 or email Matt@NaplesGolfGuy.com
Contact Matt: Matt@NaplesGolfGuy.com
February 16th, 2021 Posted by NaplesGolfGuy