April Real Estate Trends

April Real Estate Trends For Naples Florida

The April Real Estate Trends Report shows both inventory and Naples Home Sales dropped 29 percent compared to the same time last year. Clearly the significant decrease is due to the countrywide lock down. However, the good news is home values are being maintained. In fact, April’s overall percent of list price increased .5 percent compared to this same time last year. Additionally, the median closed price increased .3 percent in April from $339,000 in April of 2019 up to $340,000 this year.

April 2020 Real Estate Activity

April 2020 Versus April 2019 Real Estate Activity Highlights

Single family home sales decreased by 20 percent with 409 Naples real estate transactions
Condo sales decreased to 429 sales which was a 35 percent increase compared to last April
Overall pending sales decreased to 613 representing a 54 percent decrease
Overall inventory fell 29 percent down to 5,394 properties for sale compared to this same time last year
Days on market decreased slightly to 87 days which is a 11 percent decrease versus April 2019

Naples Closed Sales

Due to the unique situation we are in at the moment, looking at April real estate trends for overall closed sales by price range for a rolling 12 months shows home sales increased in all price categories. Most notably, Naples Luxury homes between $1 million and $2 million lead the way with a double digit increase. Luxury home sales in the above category were up 16.5 percent over the same time period last year.

Additionally, we saw a slight increase in ultra luxury homes sold above $2 million dollars which had just under a 1 percent increase.

Also, the number of homes sold between the $301,000 to $500,000 and the $500,001 to 1,000,000 price categories showed double digit increases.

In looking at the property type, the largest increase in closed sales activity were single family homes between $301,000 and $500,000 which were up from 17,39 homes to 2,097 which represents a 20.6 percent increase. A close second was luxury single family home sales from $1,000,001 to $2,000,000 price category which saw a 19.7 percent increase versus last year.

We’re starting to see a shift in buyers looking for single family homes with more space and privacy. Single family home sales increased 12.1 percent compared to condos which only increased 5.3 percent. Homes with at least three bedrooms saw double digit increases in closed sales.

Days on Market for Naples Home Sales

A bright spot for the month was the decrease in the number of days a property was on the market before it sold. The median days on market fell 9.3 percent for single family homes and 12.2 percent for condos in Naples.

Naples Inventory of Homes for Sale

So the biggest impact to the market for April was the decrease in pending inventory. As people were encouraged to stay home in March and April, the number of showings decreased from 22,862 in April of 2019 down to 9,420 this year. Although, these numbers to not take into account virtual showings which have seen a significant increase over the past couple of months.

Overall, inventory fell from 7,605 properties for sale down to 5,394 properties for sale which was a 29.1 percent decrease compared to April of last year. As evident in the chart to the left, all price ranges saw major impacts.

The decrease in inventory is due to homeowners either waiting to list their property until the fall or existing home sellers removed their property from the market. If you are seller who took your home off the market in April, consider relisting in May. Traffic has increased considerably over the past couple of weeks. There are many buyers looking for homes in less populated areas and with more space.

Ultimately, Naples offers a luxury lifestyle with numerous outdoor activities, sunshine and low taxes. So, if you are considering relocating or perhaps buying a second home or vacation home now is a great time to get started.

For those planning to sell your home, there is no better time than now to connect with us to talk about how we can prepare your home for sale safely.

More Naples April Real Estate Trends

NABOR’s Naples Area Market Report

Luxury Golf Community Trends

Latest Naples Real Estate Transactions Report

Find a Real Estate Expert Who Specializes in Golf Community Real Estate

Look for an agent who specializes in the type of community or properties you are interested in purchasing. If you are considering a Southwest Florida Golf Community, there are more than 150 golf course communities to chose from. How do you know which one is right for you and your family? Find a specialist who has the knowledge and experience about golf community real estate to help you navigate the various clubs, courses, membership options, amenities and location that will best match your lifestyles.

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Selling Your Home? Work with an Experienced Naples Luxury Realtor

In today’s rapidly changing market, it’s critical to make sure you have a digital game plan and an effective online marketing strategy when selling your home, especially if you are selling a luxury home. One of the ways your agent can help with this is to make sure your listing photos and virtual tours stand out from the crowd, truly giving buyers a detailed and thorough view of your home.

So, if you’re ready to move forward, virtual practices may help you win big when you’re ready to sell. While abiding by state and local regulations is a top priority, we can help make your sale happen. We know exactly what today’s buyers need, and how to put the necessary digital steps in place. For example, according to the same survey, when asked to select what technology would be most helpful when deciding on a new home, here’s what today’s homebuyers said, in order of preference:

Virtual tour of the home
Accurate and detailed listing information
Detailed neighborhood information
High-quality listing photos
Agent-led video chat

So, if you are contemplating selling a home in Bonita Springs, Estero, Naples or Fort Myers, we encourage you to work with a Professional Real Estate Agent or REALTOR® who has the experience and knowledge to provide an accurate market comparison so you can determine the right asking price.

Now more than ever, an agents presence on the internet is critical to selling your home. Let’s connect to talk about how we would leverage new real estate technology such as virtual tours and high end photography, e-mail marketing, social media marketing and much more.

Finally, if you live in a golf community in southwest Florida, you are competing with more than 150 other golf communities. Contact us today to learn how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price.

Should I Use a Realtor or Sell on My Own?