July Real Estate Activity

July Real Estate Activity for Naples Florida

The most recent July real estate activity reports revealed a total of 608 properties were sold, amounting to just over $596 Million in sales for the month. Notably, the highest-priced sale was a Waterfront estate in Port Royal which fetched $20,700,000.

Furthermore, the Naples luxury real estate market saw a notable number of high-value transactions, with 145 properties sold at or above $1 million.

The overall inventory at the end of the month stood at 4,352 properties for sale, marking a substantial 51 percent increase compared to the same period last year. However, it fell 7 percent from the previous month. The decline in inventory is typical for this time of year as many Sellers will remove their properties from the market and wait until the fall.

Naples in Collier County is one of the most desirable places to live and retire in the country. Recently recognized by SmartAsset as a top 10 retirement destination, Naples has low taxes, excellent medical care, and a vibrant social and recreational scene that promises a fulfilling lifestyle.

Naples isn’t just a great place to retire; it’s part of a region that’s consistently celebrated for its health and well-being. U.S. News & World Report named Collier County one of the top 10 healthiest communities in Florida, underscoring the area’s commitment to a high quality of life.

Further, Florida’s robust economy is another reason why so many are choosing to call this state home. The state’s tax revenues have surged by $2 billion for the current fiscal year and the next, reflecting a thriving economy. With an unemployment rate below the national average and one of the highest wage growth rates since 2019, Florida is a place where financial prosperity meets a high standard of living.

Are you ready to relocate to the Sunshine State?

July Real Estate Activity

July 2024 versus July 2023 Highlights

• Closed sales decreased 3 percent compared to July of last year.
• Overall pending sales decreased 16 percent versus the same time in 2023.
• Inventory increased 51 percent up from 2,892 homes to 4,352 homes for sale.
• Average days on market increased 45 percent up to 81 days compared to July of 2024.

In the month of July, a total of 608 properties were sold in the real estate market, consisting of 347 single-family homes and 277 condos. This marked a 3 percent decrease in sales compared to the previous year.

Year-over-year, the median price for single-family homes fell to $717,500 from $732,500. On the flip side, the median sales price for condominiums rose from $460,000 last July up to $470,000 in July of this year.

Additionally, the average number of days it took for a property to go to contract saw a slight increase from 78 to 81 days between June and July. However, this figure still falls short of the typical 120 days seen in a normal market.

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

Top 10 Luxury Naples Golf Home Sales in July

• $6,510,000 – 1490 Anhinga Pt. in Grey Oaks with 5,225 sq. ft. (100% of list price)
• $5,800,000 – 16988 Fairgrove Way in Talis Park with 4,847 sq. ft. (91% of list price)
• $5,050,000 – 5018 Groveland Ter. in Quail West with 4,782 sq. ft. (96% of list price)
• $4,450,000 – 16483 Seneca Way in Talis Park with 3,658 sq. ft. (99% of list price)
• $4,300,000 – 4262 Deephaven Ln. in Quail West with 4,334 sq. ft. (87% of list price)
• $3,800,000 – 4265 Deephaven Ln. in Quail West with 3,800 sq. ft. (89% of list price)
• $3,475,000 – 16337 Corsica Way in Talis Park with 3,175 sq. ft. (89% of list price)
• $3,450,000 – 11964 Colliers Reserve Dr. in Colliers Reserve with 4,546 sq. ft. (93% of list price)
• $3,400,000 – 7020 Verde Way in Pelican Bay with 2,805 sq. ft. (92% of list price)
• $3,250,000 – 2306 Silver Palm Pl. in Grey Oaks with 2,874 sq. ft. (99% 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.