Naples Real Estate Market News

 December 17, 2015 Posted by Matt

 Naples Golf Guy – Naples Real Estate Market News

Naples Real Estate Market News

 

As we head into season, inventory remains pretty tight in Collier County.  The good news is single-family home inventory increased 4% from 2,128 homes in October 2014 to 2,210 in October of this year according to NABOR’s latest statistics.  However, the condo market saw a 7% decrease in inventory from 1,811 in October of last year compared to 1,693 during the same month this year.

The $300K – $500K price category saw a significant amount of activity.  Pending sales were up 21% in the 12-months ending October 2015 and closed sales were up 25% during the same time period.  Overall closed sales increased 1% from 9,746 to 9,828 for the 12-months ending in October of this year.

Additional market highlights for October year-over-year:

  • Pending sales decreased 11% from 911 to 807
  • Inventory decreased 1% from 3,939 to 3,903 homes
  • There is a 4.63 months supply of inventory
  • Average days on market increased 3% to 73 days

As expected, the Federal Reserve raised its key interest rate on Wednesday from a range of 0% to 0.25% to a range of 0.25% to 0.5% which will likely result in higher mortgage rates.  All indications are rates will rise gradually over the next year.  For those looking to purchase a home, now is a good time to move forward with a purchase before another rate increase.

November market data is expected to be released during the third week in December.  If you would like updated information sooner, contact Matt Klinowski.

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About Matt Klinowski
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Naples Golf GuyMatt Klinowski has lived in Naples for more than 15 years.  He is an expert on the local real estate market and specializes in real estate within golf communities.  Matt enjoys the laid back lifestyle in Naples with his wife (More about Matt…).
Contact Matt:  Matt@NaplesGolfGuy.com or 239-370-0892
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