Naples July Real Estate Defies National Trends

The latest national trends show existing home sales continue to decline and there is also a shortage of properties for sale according to the most recent market report from the National Association of Realtors (NAR). However, the Naples area continues to defy those national trends. Overall home sales and pending sales both increased for the month of July. Additionally, housing inventory in Naples is healthy with a 6.25 month supply. When compared to the nationwide average of 4.3 month supply of home inventory, Naples is in great shape as we head into season.

Naples Area Real Estate Activity

July 2018 Naples Area Real Estate Activity Highlights:

Overall home sales increased 8 percent, up from 682 properties to 738 for the month of July
Single Family Closed sales increase 5 percent compared to July of last year
Condo Closed sales increased 12 percent over the same time last year
Median Closed Price increased to $345,000 during the month which is an 8% increase
Overall inventory fell slightly from 4,928 down to 4,871 which is a 1 percent decline
Average days on market fell from 105 down to 93 days or an 11 percent drop

Naples Area Real Estate Activity By the Numbers – July 2017 versus July 2018

More National Trends Compared to Naples:

Unlike the national average of home sales which declined for the past three months, home sales in Naples increased 8 percent. Evan though inventory in other areas of the country remains in tight supply, Naples is boasting just over a six month supply which is considered a healthy market. Additionally, the median price of homes nationwide for July was up 4 percent while the Naples area increased 8 percent. Finally, there’s a significant difference in how people are purchasing real estate in our area. Approximately 50 percent of the home purchases in July were cash sales compared to 20 percent nationally.

Bottom Line:

We have a healthy inventory, increasing closed sales, price stability and a decrease in the number of days on market. Therefore, it is a prime time to buy a property in Naples, Florida!

If you’re looking for a focused and rusults-oriented Realtor in Naples, Bonita Springs or Estero 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 your are considering buying or selling a home, a luxury home, luxury vacation home, luxury 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

Begin Your Own Property Search:

So, if you’re ready to begin your search for your Naples Luxury dream home or condo, I encourage you to explore my website to find information about communities in the area. 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 Southwest Florida. 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.

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.

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

About Matthew Klinowski, PA