Naples Area Market Report

Naples Area Market Report – Third Quarter

The Naples Area Market remained ahead of last year for the third quarter despite the hurricane in September. For the quarter, both pending sales and closed sales were higher year over year. Pending sales for the quarter increased 1 percent from 9,045 in 2016 up to 9,146 and closed sales increased from 8,625 up to 8,885 compared to last year.

Additionally, the median sales price during the same time last year increased from $318,000 up to $329,000 which is a 3 percent increase. Finally, inventory continues to remain tight. Total active inventory at the end of the quarter was 4,608 compared to 5,044. The limited makes it challenging for buyers. Unfortunately, often times it means a buyer will have to either wait until something comes on the market or find a property that’s close to what they want and then make some slight renovations.

Analysts have indicated many homeowners are choosing to remodel instead of sizing up or sizing down in our area. Instead, they are remodeling their homes. Additionally, due to a shortage of labor and supplies for the construction industry after the storm, we expect to see prices to continue their upward trend for both re-sales and new construction. As a result, inventory will continue to remain tight. In the end, it means prices are going to continue to rise. So, if you are a buyer, you should consider buying now and remodeling if you don’t find your perfect dream home. Or, you should purchase a home that will appreciate over the next couple of years and then upgrade. Most importantly, if you are going to purchase a home or condo that you want to appreciate, it’s critical you purchase in the right community. For more information, contact me and I will work with you and your family to identify your dream home or investment home.

Naples Area Market Report – Third Quarter Review

Naples Area Market Related Articles:

Coller County Third Quarter Market Report 2017

Nationwide September 2017 Existing Home Sales Over 10 Years

SWFL New Construction Rising

Begin Your Own Property Search:

So, if you’re ready to begin your property search, I encourage you to explore my website to find information about communities in Southwest Florida. 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.

Bottom Line:

If you are buying a home in a golf community, you will find it’s more complex than a typical home purchase. As you can probably imagine, there are significant differences between golf communities. There are many different fee structures, membership options, pet restrictions, demographics and many other details that apply to the SWFL 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 to 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.

If you’re looking for information about a specific community in Bonita Springs, Estero or Naples, please contact me and I will prepare a custom market report for you. I will provide the market information and insights to help make sure you select your dream home!

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