October Real Estate Review
October Real Estate Review For Naples Florida
The October Real Estate Review shows ongoing heightened demand for properties in Naples, Florida. Pending sales (homes under contract) increased 73 percent over last October and closed sale increased 65 percent during the same time period. Additionally, overall the number of Naples homes for sale declined 34 percent. As a result, the exceptionally low inventory continues to drive home prices up.
Traditionally, buyers begin their property searches in our area in October and November with the intent to buy something during season which is January through Easter. However, due to unusually low inventory and high buyer demand, homes are going to contract quickly. In fact, in the last 7 days, 22 percent of the Naples homes listed were on the market for less than 10 days. And almost 50 percent of the homes sold in the last week were on the market for less than 30 days!
So, if you are in the market to buy a home, if you see a property you are interested in purchasing, be prepared to make an offer quickly and don’t be surprised if there are multiple offers on the property.
2020 October Real Estate Review
October 2020 Versus October 2019 Real Estate Activity Highlights
- Single family home sales increased by 49 percent with 580 Naples real estate transactions
- Condo sales increased to 624 sales which was a 70 percent increase compared to last October
- Overall pending sales increased to 1,708 representing an 73 percent increase
- Overall inventory fell 34 percent down to 3,542 properties for sale compared to the same time last year
- Days on market decreased to 92 days which is a 12 percent decrease versus October of 2019
Despite the fact that it’s a seller’s market, buyers continue to buy a vacation home or relocate to Naples. So, if you are considering selling, now is an excellent time to jump in the market to take advantage of the high demand for Naples property.
Selling Your Home? Work with an Experienced Naples Luxury Realtor
In today’s rapidly changing market, it’s critical to make sure you have a digital game plan and an effective online marketing strategy when selling your home. One of the ways your agent can help with this is to make sure your listing photos and virtual tours stand out from the crowd.
So, if you’re ready to move forward, our virtual practices can help make your sale happen. We know exactly what today’s buyers need, and how to put the necessary digital steps in place. For example, according to a survey, when asked to select what technology would be most helpful when deciding on a new home, here’s what today’s homebuyers said, in order of preference:
- Virtual tour of the home
- Accurate and detailed listing information
- Detailed neighborhood information
- High-quality listing photos
- Agent-led video chat
- Paperless transactions
So, if you are contemplating selling a home in Bonita Springs, Estero, Naples or Fort Myers, we encourage you to work with a Professional Real Estate Agent or REALTOR® who has the experience and knowledge to provide an accurate market comparison so you can determine the right asking price.
Now more than ever, an agent’s presence on the internet is critical to selling your home. Let’s connect to talk about how we would leverage new real estate technology such as virtual tours and high-end photography, e-mail marketing, social media marketing and much more.
Finally, 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.
Looking to Buy in a Golf Community? Find a Specialist…
Look for an agent who specializes in the type of community or properties you are interested in purchasing. If you are considering a Southwest Florida Golf Community, there are more than 150 golf course communities to chose from. How do you know which one is right for you and your family? Find a specialist who has the knowledge and experience about golf community real estate to help you navigate the various clubs, courses, membership options, amenities and location that will best match your lifestyles.
“Luxury Lifestyle” has different meanings for different people. What does it mean to you? Golf course communities in our area have enhanced their amenities to provide members with the ultimate luxury experience. From wellness centers to pickleball and everything in between. We will help you identify the best communities to visit.
Contact Matt: Matt@NaplesGolfGuy.com
November 22nd, 2020, Posted by NaplesGolfGuy