January Naples Market Report

According to the January Naples Market Report, real estate activity is exceptionally strong to start the year. Buyers are fleeing the cold weather in northern states in full force. Property showings in Naples increased 36 percent up to 57,468 in January up from 42,299 in January of 2020.

Additionally, overall closed sales increased 50 percent compared to January of last year and pending sales were up 39 percent.

January 2021 versus January 2020 Highlights

Closed sales increased 50 percent compared to January of the previous year.
Overall pending sales increased to 2,210 from 1,359which represented a 39% increase versus 2019.
Inventory fell a staggering 60 percent down to 2,750 homes for sale.
Average days on market fell 27 percent down to 78 days.

Single family home closed sales increased 35 percent and condo sales increased 65% compared to the same time last year. The significant increase in both 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 2.6 month’s supply of properties available on the market. With such low inventory it is a seller’s market.

Due to the high level of buyer demand and a limited supply of inventory, there’s been a significant increase in multiple offers being submitted on a home. If you are considering a home purchase in Naples, be prepared to move quickly with an offer if you find a property you are interested in purchasing.

On the flip side, if you are considering selling, now is an excellent time to list your home for sale.

Naples Luxury Real Estate Market

The Naples Luxury real estate market saw the strongest activity during the month. Homes priced between $1 million and $2 million saw a 39.6 percent increase. Additionally, homes priced above $2 million saw an even larger increase in closed sales with a 65.1 percent increase year over year.

According to the Knight Frank’s 15th edition of The Wealth Report, the global population of ultra-wealthy increased 2.4% up to more than 520,000 people last year. An ultra-high-net-worth individual (UHNWI) is someone with a net worth of $30 million or more. According to the report, 26 percent of UHNWIs globally plan to purchase a home in 2021, a significant increase from the 21 percent reported in 2020.

The annual report, which will be jointly released by Douglas Elliman and Knight Frank in March, also projects home prices could increase up to 7% in key luxury markets in 2021. Demand for Coastal and rural properties is especially strong. And the larger the home the better with homes sales for properties over 5,000 square feet rose 17 percent from 2019 to 2020.

In fact, the Naples real estate market reflects the global trends in larger home purchases. The top sales year-to-date include:

$52,000,000 – 2700 Gordon Dr. in Port Royal with 11,511 square feet
$39,000,000 – 3100 Gordon Dr. in Gulf View Estates with 15,264 square feet
$36,000,000 – 2750 Gordon Dr. in Port Royal with 18,172 square feet
$19,650,000 – 4155 Cutlass Ln. in Port Royal with 6,569 square feet
18,500,000 – 7613 Bay Colony Dr. in the Strand at Bay Colony with 12,505 square feet

View large single family Naples luxury homes for sale…

Ultra Luxury home sales in various Naples Golf Communities continue to set records as well this year. Toping the list:

$11,100,000 – 1264 Osprey Trail in The Estuary at Grey Oaks with 9,230 square feet
$6,550,000 – 1287 Osprey Trail in The Estuary at Grey Oaks with 7,727 square feet
$6,300,000 – 1271 Osprey Trail in The Estuary at Grey Oaks with 7,879 square feet
$4,950,000 – 5024 Groveland Ter. in Quail West with 5,760 square feet
$4,900,000 – 4297 Deep Haven Ln. in Quail West with 5,175 square feet

View large single family homes for sale in Naples golf communities…

January Naples Market Report

Naples Area Market Report January 2021

Naples 2020 Year End Review

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 condominium 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.

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!

Bottom Line:

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