August Real Estate Activity

August Real Estate Activity for Naples Florida

The most recent August real estate activity reports revealed a total of 524 properties were sold, amounting to just over $577 Million in sales for the month. Notably, the highest-priced sale was a Waterfront estate in Port Royal which fetched $26,000,000.

Furthermore, the Naples luxury real estate market saw a notable number of high-value transactions, with 133 properties sold at or above $1 million.

Ninety percent of the top 10 highest-priced sales in the area occurred west of U.S. 41, with seven out of ten being waterfront properties, highlighting the strong demand for premium locations near the water.

By the end of the month, there were 4,127 properties available for sale, representing a notable 40% increase compared to the same time last year. However, inventory saw a 5.2% dip from the previous month, a seasonal trend where many sellers temporarily take their homes off the market, often waiting until fall to relist.

Whether you’re looking for the perfect place to retire or a vibrant hub to grow your business, this coastal gem offers the best of both worlds. Florida was recently crowned the top state to launch a business, thanks to its low corporate tax rate of 5.5% and the influx of both companies and consumers seeking new opportunities.

In Collier County, residents are enjoying even more good news: for the second consecutive year, property taxes have been rolled back. This effort balances stable county revenue with the gains from new construction and property enhancements, all while property values soared over 10% between 2023 and 2024, reaching an impressive $152.25 billion. And although the City of Naples has made a small adjustment to the millage rate, it still boasts one of the lowest in the entire state.

Isn’t it time to make the move? Discover a life of opportunity, relaxation, and endless sunshine in Naples.

August Real Estate Activity

August 2024 versus August 2023 Highlights

• Closed sales decreased 28 percent compared to August of last year.
• Overall pending sales decreased 16 percent versus the same time in 2023.
• Inventory increased 40 percent up from 2,942 homes to 4,127 homes for sale.
• Average days on market increased 52 percent up to 82 days compared to August of 2024.

In the month of August, a total of 524 properties were sold in the real estate market, consisting of 283 single-family homes and 241 condos. This marked a 28 percent decrease in sales compared to the previous year.

Year-over-year, the median price for single-family homes fell to $690,000 from $699,450. Similarly, the median sales price for condominiums decreased from $485,000 last August down to $479,000 in August of this year.

Additionally, the average number of days it took for a property to go to contract saw a slight increase from 81 to 82 days between July and August. However, this figure still falls short of the typical 90 to 120 days seen in a normal market.

Sales activity during the off-season summer months is historically lower than during the season. Thus, sellers must set the right prices to stay competitive in today’s market.

Top 10 Luxury Naples Golf Home Sales in August

• $12,500,000 – 8231 Bay Colony Dr. Penthouse 1 in Bay Colony in Pelican Bay with 6,164 sq. ft. (86% of list price)
• $5,455,000 – 1515 Gulfstar Dr. S in Windstar with 5,478 sq. ft. (91% of list price)
• $4,200,000 – 2813 Capistrano Way in Grey Oaks with 3,496 sq. ft. (89% of list price)
• $3,600,000 – 2537 Day Lily Pl. in Grey Oaks with 5,012 sq. ft. (85% of list price)
• $3,400,000 – 15295 Burnaby Dr. in Audubon with 4,420 sq. ft. (91% of list price)
• $3,400,000 – 7525 Pelican Bay Blvd #703 in Pelican Bay with 3,045 sq. ft. (95% of list price)
• $3,375,000 – 9237 Esplanade Blvd. in Esplanade with 3,591 sq. ft. (97% of list price)
• $2,935,000 – 4687 Oak Leaf Dr. in Quail Creek with 4,200 sq. ft. (93% of list price)
• $2,400,000 – 5949 Amberwood Dr. in The Strand with 3,850 sq. ft. (96% of list price)
• $2,220,000 -3756 Mahogany Bend Dr. in Fiddler’s Creek with 3,251 sq. ft. (89% of list price)

New Listings in Golf Communities

So, if you just want to keep an eye on the market, we can set up a custom property search that is fully automated or sign up for automatic property alerts.  Please feel free to call us at any time to set up the alerts for you based on your criteria.

Make Naples Your New Home

Naples, with its unbeatable combination of natural beauty, health-conscious living, and vibrant community, stands out as a premier choice for those looking to relocate. Whether you’re drawn by the low taxes, top-tier healthcare, or the array of recreational activities, Naples offers a lifestyle that’s hard to beat.

Don’t miss your chance to be part of this thriving community in the heart of Florida’s paradise. Start your journey to owning a home in Naples today, and experience firsthand why this area continues to be a top choice for discerning homeowners.

When it comes to navigating the intricate real estate market, whether you are buying or selling, the Naples Golf Guy team is here to assist you. Our team consists of dedicated REALTOR® professionals who possess the knowledge and experience to offer you precise and up-to-date market information.

Feel free to reach out to us via phone, email, or text at 239.370.0892 to fulfill all your real estate requirements.