Naples Real Estate Market Snapshot
Naples Real Estate Market Snapshot
The latest real estate market snapshot for the Naples area showed 1,618 properties sold for just over $1.4 Billion during May! The highest priced home sold for $14,950,000 in Port Royal. The luxury market remains strong as evident by the 323 properties sold at or above $1 Million.
The increase in both pending sales and closed sales continued to contribute to our reduction in inventory. However, on a positive note, new listings to the market increased 8 percent compared to this time list year.
May 2021 versus May 2020 Highlights
- Closed sales increased 164 percent compared to May of last year.
- Overall pending sales increased 47 percent versus the same time last year.
- Inventory dropped 79 percent down from 6,177 homes to 1,290 homes for sale.
- Average days on market fell 52 percent down to 43 days.
Similar to the last two months, condos led the way with a 208.6 percent increase in closed sales. Single family home sales also showed a significant increase, up 124.5 percent compared to the same time last year. The increase in sales combined with low inventory has led to higher prices, with the overall median sales price increasing 29 percent.
Also notable, homes in the Naples area were being sold at 99.1 percent of list price. We continued to see multiple offers on a home. If you are considering purchasing a home, put yourself in the best position to win the deal by working with a professional real estate agent who has experience negotiating deals with multiple offers.
Ultimately, due to the high demand for homes and increasing prices, if you are considering selling it’s a great time to list your home and maximize your return on the property. There’s only
If you’re just thinking about selling, let’s connect to discuss your home’s value in today’s market. It is likely worth more than you think.
New Construction in Naples Golf Communities
Builders are also recording record sales. Similar to resales, there are often more buyers than new homes available. An agent can help you put your best foot forward to increase your chances of submitting a winning bid.
Before you go it alone on a new construction property, 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.
There are only a few golf communities still offering new construction homes. To learn more about those communities, contact NaplesGolfGuy at 239-370-0892.
Real Estate Market Snapshot for Naples Luxury Homes
For the fourth month in a row, the Naples Luxury real estate market saw the strongest activity in closed sales. Homes priced between $1 million and $2 million saw a 75 percent increase up from 50.2 percent during the previous month. Additionally, homes priced above $2 million saw an even larger increase in closed sales with a 106.3 percent compared to 67.7 percent increase during March.
Properties with at least four bedrooms or more remain at the top of the wish list for luxury home buyers.
Ultra Luxury home sales in various Naples Golf Communities continue to set records as well this year. Toping the list:
- $9,850,000 – 1201 Gordon River Trail in The Estuary at Grey Oaks with 11,098 square feet
- $8,000,000 – 349 Colony Dr. in Pelican Bay with 11,938 square feet
- $6,325,000 – 715 Hollybriar Ln. in Pelican Bay with 4,985 square feet
- $6,000,000 – 702 Bob White Ln. in Pelican Bay with 4,540 square feet
May Naples Real Estate Market Reports
Begin Your Own Search for a Naples Vacation Home or Second Home:
So, if you’re ready to begin your search for your dream home or condo in Naples Florida, we encourage you to explore our website to find information about communities in the area. If golf is your game, we specialize in golf community real estate.
There are more than 150 different golf communities in our area and most of them have a private golf course within the community. It can be challenging to navigate the plethora of communities, membership options, golf course design, amenities and more. We will help provide you with a list of the top private golf communities which match your lifestyle.
Lastly, we will handle all contract negotiations via paperless transactions for your property from offer to close!
NaplesGolfGuy offers private client advisory services with an emphasis on detail. Professionalism, integrity and discretion are not goals, they are standards. We are dedicated to exploring, experiencing and navigating the very best in luxury living for our clients.
Contact Matt: Matt@NaplesGolfGuy.com
June 22nd, 2021 Posted by NaplesGolfGuy