Naples May Real Estate Recap
Naples May Real Estate Recap
The latest Naples May real estate recap for the area showed 1,249 properties sold for just over $1 Billion! The largest sale was $22,120,000 for a single family home in Port Royal. Additionally, the luxury market was still strong as evident by the 379 properties sold at or above $1 Million.
The Naples lifestyle remained in high demand as evident by the low days on market which was 16 days for the second consecutive month. Once again, closed sales and pending sales were were lower than this time last year due to limited inventory.
In all, there were 728 single family homes and 675 condos sold for a total of 1,403 sales during the month which was a 5.1 percent increase over last year.
So far, year-to-date, properties have sold very near or above list price. Condos sold just above asking price at 101.4 percent of list price and single family homes came in at 99.7 percent of list.
On a positive note for buyers, our inventory increased 59 percent ending the month at 2,046. New listings totaling 1,222 contributed to our increased inventory during May which was a 77.4 percent increase over May of 2021.
Naples Real Estate Trends
May 2022 versus May 2021 Highlights
- Closed sales decreased 25 percent compared to May of last year.
- Overall pending sales decreased 36 percent versus the same time period.
- Inventory increased 59 percent up from 1,290 homes to 2,046 homes for sale.
- Average days on market fell 63 percent down to 16 days.
Similar to the first quarter of the year, single family homes saw a significant increase in the median price which rose 37 percent up to $815,000. Condos saw an even bigger increase up 47.5 percent up to $483,000. Overall, the median price rose 40 percent coming in at $608,000 year-over-year which is excellent news for Sellers.
Although the median price has increased significantly, during recent weeks we’ve seen indications price appreciation is slowing. A total of 889 properties reduced their price in May which was a 34 percent increase in the number of price reductions compared to April. And, in the past week alone, there have been 310 price reductions. To reiterate what we’ve said over the past couple of months, the price reductions do not mean prices are going below previous closed sales. These reductions are on Naples homes which were originally overpriced and seller’s are starting to adjust their prices to reflect current market conditions.
Also, ShowingTime, which tracks the number of times properties are shown noted there were 29,431 appointments during the month of May which was 8,483 fewer than April. Another indication the market is starting to slow.
If you are considering selling, the increase in inventory as well as the price reductions show prices have started to stabilize. While it remains a seller’s market, we are moving towards a more balanced environment. There’s still time to list your home to maximize your profits. Call, email or text us today for a FREE home evaluation – 239.370.0892.
If you are considering buying, have you signed up for our property alerts yet? Our team has a process in place to help notify clients within seconds of a new listing going live. For those looking to move forward with a home purchase in the short term, we will arrange for a virtual tour and provide an assessment of the property.
For those who just want to stay informed about specific neighborhoods, you can view properties at your leisure through our property portal. Sign up for automatic property alerts or call us and we’ll set up the alerts for you based on your criteria.
Naples Luxury Home Sales in Exclusive Golf Communities For April
- $10,000,000 – 1429 Nighthawk Pt. in Grey Oaks with 5,731 sq. ft. (100% of list price)
- $8,785,000 – 705 Hollybriar Ln. in Pelican Bay with 5,352 sq. ft. (98% of list price)
- $7,400,000 – 2713 Buckthorn Way in Grey Oaks with 6,296 sq. ft. (93% of list price)
- $6,100,000 – 16767 Prato Way in Talis Park with 4,619 sq. ft. (100% of list price)
- $5,725,000 – 5907 Sunnyslope Dr. in Quail West with 5,506 sq. ft. (91% of list price)
- $5,600,000 – 2709 Buckthorn Way in Grey Oaks with 5,211 sq. ft. (97% of list price)
- $5,450,000 – 1257 Waggle Way in Pelican Marsh with 6,404 sq. ft. (100% of list price)
- $5,100,000 – 1633 Chinaberry Way in Grey Oaks with 5,699 sq. ft. (97% of list price)
- $4,950,000 – 6289 Burnham Rd. in Quail West with 4,695 sq. ft. (100% of list price)
- $4,900,000 – 10846 Est Cortille Ct in Mediterra with 5,367 sq. ft. (102% of list price)
Considering Selling Your Naples Home?
It is a seller’s market so why should you work with a realtor? Do you have the time? There are over 180 actions required to successfully complete a real estate transaction. From scheduling showings, contract negotiations, organizing inspectors, attorneys, title companies and a mountain of paperwork.
With nearly 20 years of experience helping sellers with their golf community real estate needs, we would like to share our strategy for how we’re helping maximize the number of offers homeowners are receiving and ultimately higher sales prices.
Our team is committed to extraordinary customer service with an emphasis on detail and frequent communication.
We collaborate with our sellers to design and implement a customized marketing campaign to present your property to the world. We are dedicated to making the sales process easier for you and your family.
We would very much like to meet you and learn about your home and help provide a stress-free selling environment for you and your family. As you may well know, opportunities such as today’s market for sellers only comes every so often.
Call, email or text us today for all of your real estate needs – 239.370.0892.
Naples March Real Estate Recap Market Reports
Results You Can Count On
The Naples Golf Guy Team is committed to extraordinary customer service with an emphasis on detail. Professionalism, integrity and discretion are not goals, they are standards. We collaborate with our sellers to design and implement a customized marketing campaign to present your property to the world. If you are a buyer, we are committed to helping you find the community which will allow you to live the ultimate Florida lifestyle in Paradise.
Contact Matt: Matt@NaplesGolfGuy.com