August 2019 Real Estate Activity

Naples August 2019 Real Estate Overview: Summer is over and we are preparing for season. If August is any indication of how the rest of the year and season will go, then it is going to be incredibly busy for the next 6 months.  Based on the latest Naples housing market reports, real estate activity continued to outpace last year during the same time period. Overall closed sales increased 7.4 percent in August, according to the recently released Naples Area Board of Realtors report. There were a total of 796 closed sales in August of this year compared to 741 in August 2018. And, the supply of homes continued to tighten with an 18% reduction in overall inventory compared to last August. The total supply of homes fell from 5,980 down to 4,917. As a result, we are sitting at a 6 month supply of inventory available.

Naples August 2019 Real Estate Highlights:

• Overall inventory decreased 18 percent compared to August of last year
• Total closed sales increased 7 percent, up to 796 versus August of 2018
• Single family closed sales increased to 417, which was a 17 percent increase
• Condo sales decreased slightly, 2 percent, compared to the same month last year
• Number of Days on Market increased by 4 percent up to 103 days
• Median Sales Price fell slightly to $317,918 which was a 0.2 percent decrease

In spight of an 18 percent decrease in overall inventory, there was only a slight impact on the median closed price for the month of August. The median closed prices ended the month at $317,918 which was only a 0.2 percent reduction compared to last year.

Closed Sales Market Review:

The August report shows there was a  significant increase in single family homes sold compared to last August with sales increasing by 17.1 percent. Condo sales actually declined 1.6 percent during the same time period.

Further, if you look at the breakdown by price range for all Naples properties you will see the biggest increase in activity was for properties priced between $300,001 and $500,000 this August compared to last August.

Also noteworthy is another decrease in closed sales of luxury properties priced between $1,000,000 and $2,000,000 where there was a 5.7 percent decline in closed sales. Naples Condos in the $1 million to $2 million price category, saw the largest decline in activity with a 17.7 percent decrease in closed sales.

And, closed sales of Ultra Luxury homes priced above $2,000,000 rose slightly compared to last year.  There were only 4 additional transactions during August of 2019 over last year.

So if you are looking to buy a luxury home or condo in Naples, it’s likely you will have more room for negotiating a good price. Sellers will need to start adjusting their list price if they haven’t done so already.

August 2019 Real Estate Review of Days on Market:

Typically, the reason a home remains on the market too long is due to the property being overpriced. In Southwest Florida, the time of the year may impact the length of time it takes for a property to sell.

In August, it took an average of 110 days for a property to close which was up from 96 during the same time last year. If your home has been on the market for a while and you have no showings or very few showings, you should talk to your realtor about your list price or other incentives to entice buyers.

Also, the August 2019 ShowingTime report, a monthly supplemental report which shows the number of times properties are shown, indicated that local REALTORS® scheduled 16,878 appointments to show Naples properties during the month which is a 16 percent increase. On average, the report shows that a home for sale in Collier County is shown 16 times before it goes to contract.

Broker analysts believe the less inventory people have available to view, the more properties they want to see. This is why they believe now is a good time for sellers to enter the market so they have the opportunity to capture buyers who are looking at homes now.

Days on Market by Price Range in Naples Florida:

The overall days on market increased to an average of 110 days. However, if you look at the data based on the various price ranges you can see Luxury homes (homes priced above $1 million) remained pretty close to flat. And, if you look at luxury properties priced above $2 million, the average days on market only increased by 1 day, which is still almost 5 months.

Surprisingly, homes priced below $300,000 saw the largest increase in the number of days on the market rising up to 88 days before closing.  Overall, the time to sell homes has increased which is typical for the summer months.

Naples Housing Inventory:

Finally, there were 938 new listings added to August’s inventory. However, the increased inventory did not keep up with the number of buyers entering the market.

At the end of August, there were 4,917 homes on the market compared to 5,980 in August of 2018.

So supply is hovering around 6 months worth of Naples Homes for Sale. Typically, a healthy market is between 6-7 months worth of properties available for sale. Having said that, inventory varies by price range and location. An experienced real estate professional will help you navigate the various communities and locations to ensure you are maximizing your investment your a home buyer and if you are selling property, they will help you price your home in alignment with the market.

Highlights by Location:

Geographically, closed sales of single-family homes in the East Naples are (34114, 34117, 34120, 34137) increased the most in August by 35.6 percent followed by closed sales of single-family homes in North Naples (34109, 34110, 34119), which increased 15.6 percent.

Naples August 2019 Real Estate Market Watch

NABOR’s Naples Area Market Report

Collier County Real Estate Transactions Week of July 29th 2019

Begin Your Own Property Search for Luxury Dream Home:

What Will Home Prices Look Like Over the Next Few Years?

Over the next five years, home prices will continue to rise. This means that now is a great time to sell! If you’re thinking of listing your home, let’s get together to determine your best move.

September 21st, 2019, Posted by NaplesGolfGuy

4 Reasons to Sell This Fall

Fall is here and season is approaching. If you are considering selling your home, now is the time to start discussing the value of your home with your real estate professional. Whether you are downsizing or moving up, now is a great time to take advantage of the increase in buyer demand and the lack of competition.

One of the Top Reasons to Own a Home

One of the top reasons to buy a home is one of the benefits of homeownership is a “forced savings plan.” Here’s how it works: You make a mortgage payment each month. Part of that payment is applied to the principal balance of your mortgage. Each month you owe less on the home. The difference between the value of the home and what you owe is called equity.

September 19th, 2019, Posted by NaplesGolfGuy

Sellers Offering Assistance with Closing Costs and/or HOA Fees

Best Priced first story home in Valencia Country Club! Sellers offering assistance with closing costs and/or pre-paid HOA fees. Move-in ready large ranch-style single-family home in a golf community with low fees. This 3 bedroom, 2 bathroom home is perfect for a family. It is located within walking or biking distance to 3 of the best schools in Collier County (all “A” schools). So, if you are looking for an affordable home with great schools and excellent amenities in a Naples golf community contact me today to see this home!

Sellers Offering Assistance with Closing Costs and/or HOA Fees

1452 Birdie Dr. Naples, FL 34120 – $319,900

More About This Fabulous Valencia Home:

A large single family home in a golf community in Naples with a wide-open floor plan, entertainer’s kitchen and a southeastern view of Valencia Country Club’s golf course, it’s perfect!

• List Price – $319,900
• 2,242 Square Ft.
• Built 2011
• View more photos…

Valencia Country Club:

Valencia is nice, affordable public golf and country club in Naples, Florida. It is one of the few golf courses in the area which does not include a mandatory membership fee. You can play as often or as little as your heart desires.  Known as a beginner-friendly golf course, there are 5 sets of tees for golfers at all skill levels. Learn more about Valencia Country Club…

What Do Buyers Need to Know About an HOA?

When searching for a home, you may end up selecting a property in a community with a Homeowners Association (HOA). Before you buy, it’s important to know how an HOA works and what they mean for you.

September 18th, 2019, Posted by NaplesGolfGuy

Home Prices Increase in Every Price Range

According to the latest real estate reports, home prices increase in every price category year-over-year. CoreLogic’s Home Price Index (HPI) Report revealed,

“National home prices increased 3.6% year over year in July 2019 and are forecast to increase 5.4% from July 2019 to July 2020.”

September 15th, 2019, Posted by NaplesGolfGuy

Things to Avoid After You’ve Applied for a Mortgage

Congratulations! You’ve found a home to buy and have applied for a mortgage! You’re undoubtedly excited about the opportunity to decorate your new home, but before you make any large purchases, move your money around, or make any big-time life changes, consult your loan officer – someone who will be able to tell you how your decisions will impact your home loan.

September 16, 2019 Posted by NaplesGolfGuy

Mid-July Naples Home Sales Overview

The Mid-July Naples Home Sales Overview shows there were 286 Naples Properties Sold during the week of July 22nd.  So, activity remains very strong during early the middle of summer in Naples, Florida.

East Naples moved into the first position for the most real estate transactions for the week with 65 homes sold during the third week of July.  Of the 65 real estate transactions, 5 percent were vacant lots, 21 percent were single family homes and 63 percent were condos.

North Naples was a close second with 62 properties sold.  Home sales in the area consisted of 6.5 percent vacant lots, 37.5 percent were single family homes and 56 percent were condos.

And finally, the City of Naples had 30 homes sold. Of the 30 real estate transactions, 40 percent were single family homes and 57 percent were condos. The remaining property sold was a vacant lot.

Also notable for the week was the significant increase in properties sold in the Corkscrew area. There were a total of 49 real estate transactions with 41 percent being vacant lots, 51 percent single family homes and 8 percent were vacant lots.

In summary, the early July Naples Home Sales Overview for the week of July 22nd show sales were broken down as follows: 143 condos, 117 single family homes and 26 vacant lots sold throughout Collier County.

Mid-July Naples Home Sales Overview for the week of the 22nd Organized by zip code:

City of Naples

• 34102 – 9 properties sold (1 vacant lot, 4 single family homes and 4 condos)
• 34103 – 5 properties sold (5 single family homes)
• 34105 – 16 properties sold (3 single family homes and 13 condos)

North Naples

• 34109 – 17 properties sold (7 single family homes and 10 condos)
• 34110 – 15 properties sold (5 single family homes and 10 condos)
• 34119 – 30 properties sold (4 vacant lots, 11 single family homes and 15 condos)

East Naples

• 34104 – 16 properties sold (7 single family homes and 9 condos)
• 34112 – 21 properties sold (2 vacant lots, 4 single family homes and 15 condos)
• 34113 – 28 properties sold (1 vacant lot, 10 single family homes and 17 condos)

Ave Maria and Immokalee

• 34142 – 4 properties sold (1 vacant lot and 3 single family homes)

Barefoot Beach

• 34134 – 1 property sold (1 single family home)

Big Cypress

• 34117 – 9 properties sold (4 vacant lots and 5 single family homes)

Coco River

• 34108 – 12 properties sold (6 single family homes and 6 condos)

Corkscrew

• 34120 –  49 properties sold (20 vacant lots, 25 single family homes and 4 condos)

Eastern Collier County

• 34114 – 22 properties sold (8 vacant lots, 6 single family homes and 8 condos)
• 34116 – 9 properties sold (6 single family homes and 3 condos)

Everglades

• 34139 – 2 properties sold (1 vacant lot and 1 condo)

Marco Island

• 34145 – 21 properties sold (9 single family homes and 12 condos)

September by the Numbers

Whether you’re interested in buying a home or selling your house, the current market is full of opportunity. Let’s get together to explore your options!

Begin Your Southwest Florida Property Search

September 15th, 2019 Posted by NaplesGolfGuy