November Housing Market Report Shows Activity Heating Up

The November housing market report recently released by the Naples Area Board of REALTORS® (NABOR®), shows home sales increased by double digits in every price category. Ultimately, overall closed sales increased 24 percent compared to November of last year. Additionally, inventory rose up to 5,971 properties which is a 12 percent increase.

November Housing Market Highlights:

Overall closed sales increased 24 percent compared to 2017
Single-family home sales increased 21 percent versus last November
Condo sales increased 27 percent over the same time a year ago
Overall median closed sales price went up to $334,000 which is a 1 percent increase
Pending sales decreased by 4 percent compared to November of 2017
Days on market fell to 95 days which is a 6 percent decrease

The largest increase in inventory during the month was for single-family homes less than $300,000 which increased 38 percent. At the same time, closed sales rose 30 percent in the same price category compared to last November.

According to Mike Hughes, Vice President and General Manager for Downing-Frye Realy, Inc., “New home construction in the lower price tiers is rushing to meet the needs of buyers and it’s building our inventory in much-needed areas within eastern Collier.” He also noted the East Naples area (34114, 34117, 34120 and 34137) saw the highest number of closed sales for single-family homes. There were 105 single family homes sold and another 121 sales pending.

Additionally, the inventory level going into season is the highest it’s been in six years. Also, the reduction in the number of days properties are on the market is an indication home sellers are pricing their properties appropriately. As a result, home buyers will have more properties to chose from and at prices which are realistic for our area.

The NABOR® 2018 November Housing Market Report provides comparisons of single-family home and condominium sales based on the data available in the Southwest Florida MLS:

Broken down geographically, Collier’s housing market in November had some interesting pockets of activity. For example, median closed prices decreased 19 percent in the Naples Beach area (34102, 34103, 34108); but increased 12 percent in the North Naples area (34109, 34110, 34119).

There was a 90 percent increase in closed sales of condominiums in East Naples (34114, 34117, 34120, 34137), which brokers attribute to an increase in new construction of townhome developments east of Collier Boulevard. And single-family homes in Central Naples (34104, 34105, 34116) sold the fastest with an average of 66 days on the market from listing to closing.

Begin Your Own Property Search:

So, if you’re ready to begin your search for your Naples home, or a southwest Florida Luxury home or condo, I encourage you to explore my website to find information about communities in the area. 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.

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, I may be able to help you save money and negotiate for extras which the builder may not let you know about.

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

Considering Selling your home?

If you are looking to sell a home in Bonita Springs, Estero or Naples, I encourage you to work with a REALTOR® who has the experience and knowledge to provide an accurate market comparison so you can determine the right asking price. If you live in a golf community in southwest Florida, you are competing with more than 100 other golf communities. Contact me 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.

Bottom Line:

If you’re looking for a focused and goal-oriented Realtor in Naples, Bonita Springs or Estero who will help you achieve your Real Estate needs, please reach out to me directly.

Additionally, if you are looking for a golf community expert or you are considering buying or selling a home, a luxury home, luxury vacation home, luxury golf home or dream home, call me or text me on my mobile phone at 239-370-0892 or email me at Matt@NaplesGolfGuy.com

About Matthew Klinowski, PA