Naples Florida Real Estate Market Continues Strong in August

Janet Berry of the Berry Luxury Home Team at Premiere Plus Realty was excited about the August 2018 Naples Real Estate Market Report, as the market continued strong in August. Here is Janet's summary: "While existing home sales throughout the US decreased for the 4th straight month, homes sales in the Naples area were up 5 percent in August, and we enjoy a healthy rare 6+ month supply of inventory."

Janet Said "A couple price points deserve special note: First of all, there are currently over 2,800 properties (1,187 single family homes and 1,726 condos) for sale under $500,000. Pending sales for luxury condominiums ($2 million and above) in August were up 23 percent (33% for $1M - $2M) as the strength of the luxury market continued into the summer months.

August also saw a sizable 40% jump in condominium closings in the $300,000 - $500,000 range and a 21% jump in Single Family Home sales in that same $300,000 - $500,000 range.

As we roll into 4th quarter, September is normally when we have homeowners inquiring about selling their Naples Homes this winter, and this September has been no exception." Janet Berry Continued "I absolutely love the Naples real estate market balance. I can help folks buy or sell in all areas of the market from the under $300,000 to $2 Million and above condos to all up and down the beaches, and my clients have plenty of choices and options." Berry summed it up with "As we think about season coming up soon, I can't wait to help a lot of buyers find and buy their own piece of paradise in Naples and Southwest Florida. Judging by the number of homeowner’s inquiring about selling their Naples home, I believe the incredible selection will continue".

CLICK HERE To See Full Statistics for August 2018
According to the National Association of REALTORS August market report, existing home sales in America decreased for the 4th straight month as a result of the severe housing shortage that is not releasing its grip on the nation’s housing market.

Conversely, homes sales in the Naples area were up 5 percent in August according to the August 2018 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). The nation has only a 4.3-month supply of home inventory, while Naples has a healthier 6.25-month supply of inventory.

“The Naples area overall saw pending sales in August fall 3 percent; but pending sales of condominiums in the $500,000 to $1 million price range soared 28 percent in August. And pending sales for single family homes above $300,000 increased as well, with an impressive 62 percent increase for single family homes in the $2 million and above price category.

The NABOR® August 2018 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® August 2018 sales statistics are presented in chart format, including these overall (single-family and condominium) findings: 

Overall Inventory of homes increased 2% with 2,560 single family homes, and 2,353 condos currently for sale.

Overall median closed prices fell 3 percent in August to $319,000 from $328,000 in August 2017, and it fell 13 percent for properties above $300,000 to $446,000 from $510,000 in August 2017. The only place prices increased was in the $500,00 to $1 million condominium market, which saw a 13 percent increase to $672,000 from $595,000 in August 2017.

Geographically, the median closed price increased 16 percent for homes in the South Naples area. This increase was reflected in a combined 37 percent increase in the single-family home market and 21 percent increase in the condominium market.

How buyers are purchasing homes in Naples is very different than the national average home buyer, as well. Cash sales accounted for only 20 percent of home purchases in July nationally. But in Naples, cash sales accounted for 50 percent of all home sales in July.

If you are looking to sell a home in Naples, contact a REALTOR® who has the experience and knowledge to provide an accurate market comparison so you can determine the right asking price. A REALTOR® can also ensure your next purchase in the Naples area is a success. Find out more at Naplesarea.com.

The Naples Area Board of REALTORS® (NABOR®) is an established organization (Chartered in 1949) whose members have a positive and progressive impact on the Naples Community. NABOR® is a local board of REALTORS® and real estate professionals with a legacy of nearly 60 years serving 6,000 plus members. NABOR® is a member of the Florida Realtors and the National Association of REALTORS®, which is the largest association in the United States with more than 1.3 million members and over 1,400 local board of REALTORS® nationwide. NABOR® is structured to provide programs and services to its membership through various committees and the NABOR® Board of Directors, all of whose members are non-paid volunteers.

The term REALTOR® is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribe to its strict Code of Ethics.

Source: Naples Area Board of Realtors

Unlike any other Esplanade Golf and Country Club or Naples Florida Real Estate website, this site allows to see a Live View of the market, updated in real time.  You will also see  Janet Berry’s exclusive Esplanade Golf & Country Club Live Market Report, and Live Market Repots for all of Southwest Florida.

If Janet Berry and her Luxury Home Team can assist you, or the ones you care about, with Esplanade Golf and Country Club or other Naples Florida Real Estate, Simply Call or Text Janet at 239-450-1892 For Immediate Help.