May Naples Home Sales Up
May Naples Home Sales Up for the Month
May Naples Home Sales saw a double-digit increase in closed sales compared to May of last year according to the latest Market Report released by the Naples Area Board of REALTORS® (NABOR®). Overall closed sales increased 10 percent with single-family home sales leading the way up 13 percent compared to last May. Additionally, almost 30 percent of homeowners reduced prices during the month of May which contributed to the increase in sales. Most notable were the decreases within the city of Naples (34102). The median price in the city decreased 24.9 percent in its overall median closed prices. Finally, following the normal trend for this time of year, inventory decreased 13 percent which means there are fewer Naples properties for prospective home buyers to consider.
Overall May Naples Home Sales Highlights:
- Inventory decreased from 6,785 homes in May of 2018 down to 5,905 homes in May of 2019 which was a 13 percent decrease
- Single family home sales increased by 12.8 percent up from 515 to 581 compared to May of last year
- Condo sales also increased during May, up from 546 to 584 which was a 7 percent increase
- Overall days on market increased to 107 days which is a 9 percent increase over last May
- Median closed sales price increased 7 percent over the same time last year
Buyer activity continues to remain strong. With almost 2,000 home owners adjusting their prices downwards, home buyers are in a good position to negotiate for a lower price on a property. So if you are considering buying a home, now is a great time. Contact us today to find your dream home in Naples, Florida.
Geographic Trends for May Naples Home Sales:
Home sales in East Naples (34114, 34117, 34120, 34137) saw the largest increase in activity up 21.7 percent from 1,061 homes sold up to 1,165 sales.
“I kind of see East Naples and South Naples as the last growth frontier for the Naples area,” said Mike Hughes, Vice President and General Manager of Downing-Frye Realty, Inc. “A lot of our future growth will be in these two areas. It should be noted that the zip code 34114 saw a 56.2 percent increase in closed sales in May 2019 compared to the previous May.”
On the flip side, the luxury home market continued to show a decrease in sales. Homes priced between $1 million and $2 million decreased 8.9 percent in May. Interestingly, the decrease in closed sales for luxury real estate for the $1M to $2M price category appeared in the condominium market, which saw a 23.1 percent decrease, while its single-family homes closed sales actually increased 3.6 percent.
However, the ultra-luxury real estate market, homes priced above $2 million, saw a slight increase in closed sales with a 1.2 percent increase over May of 2018.
The NABOR® May 2019 Market Reports provide comparisons of single-family home and condominium sales, price ranges, and geographic segmentation and include an overall market summary.
May 2018 versus May 2019 Naples Home Sales By the Numbers
More May Naples Home Sales Market Reports
So, if you’re ready to begin your search for your Naples home, or a southwest Florida Luxury home or condo, 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 and would be happy to help you navigate the more than 150 different golf communities in our area. If you prefer a more direct approach, we 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, 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 for your property from offer to close!
If you are looking to sell a home in Bonita Springs, Estero, Naples or Fort Myers we recommend you work with a real estate professional or consultant 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 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.
If you’re looking for a focused and goal-oriented Realtor in southwest Florida 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, luxury home, vacation home, 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 Naples Golf Guy
Contact Matt: Matt@NaplesGolfGuy.com
June 25th, 2019 Posted by NaplesGolfGuy