June Real Estate Activity for Naples Florida

The most recent June real estate activity reports revealed a total of 710 properties were sold, amounting to just over $800 Million in sales for the month. Notably, the highest-priced sale was a Gulf-Front estate in Port Royal which fetched $18,000,000.

Furthermore, the Naples luxury real estate market saw a notable number of high-value transactions, with 186 properties sold at or above $1 million.

The overall inventory at the end of the month stood at 4,680 properties for sale, marking a substantial 59 percent increase compared to the same period last year. However, it fell 6.8 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.

Florida remains a leading destination for those looking to relocate, with the population now exceeding 23 Million residents, according to state officials. Additionally, projections show a strong annual growth of 319,109 people over the next four years.

In CNBC’s latest annual report on The Best States to Buy and Sell a Home, Florida ranks at the top, highlighting the state’s dynamic real estate market.

It’s not just individual buyers who are eyeing Florida; home builders are making significant investments, purchasing multi-million dollar parcels of land in anticipation of the state’s continued expansion. The future looks promising for Florida’s thriving communities and growing opportunities.

June Real Estate Activity

June 2024 versus June 2023 Highlights

• Closed sales decreased 17 percent compared to June of last year.
• Overall pending sales decreased 11 percent versus the same time in 2023.
• Inventory increased 59 percent up from 2,943 homes up to 4,680 homes for sale.
• Average days on market increased 56 percent up to 78 days compared to June of 2023.

In the month of May, a total of 710 properties were sold in the real estate market, consisting of 361 single-family homes and 349 condos. This marked a 17 percent decrease in sales compared to the previous year.

Year-over-year, the median price for single-family homes fell to $730,000 from $752,500. On the flip side, the median sales price for condominiums rose from $481,500 last June up to $485,000 in June of this year.

Additionally, the average number of days it took for a property to go to contract saw a notable increase from 67 to 78 days between May and June. 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. In fact, we saw 1,351 price reductions during the month as sellers aligned with the current pricing levels in their neighborhoods.

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.

Top 10 Luxury Naples Golf Home Sales in June

• $6,930,000 – 6439 Dunberry Ln. in Quail West with 7,390 sq. ft. (91% of list price)
• $6,300,000 – 5967 Sunnyslope Dr. in Quail West with 4,855 sq. ft. (97% of list price)
• $6,250,000 – 8231 Bay Colony Dr. Unit 1401 in Pelican Bay with 3,380 sq. ft. (90% of list price)
• $4,950,000 – 2351 Alexander Palm Dr. in Grey Oaks with 5,302 sq. ft. (100% of list price)
• $4,875,000 – 2064 Isla Vista Ln. in Grey Oaks with 3,700 sq. ft. (95% of list price)
• $4,850,000 – 10842 Est Cortile Ct. in Mediterra with 5,579 sq. ft. (92% of list price)
• $4,195,000 – 1560 Marsh Wren Ln. in Grey Oaks with 3,477 sq. ft. (100% of list price)
• $4,000,000 – 705 6597 Nicholas Blvd. Unit 1501 in Pelican Bay with 3,275 sq. ft. (95% of list price)
• $3,600,000 – 7932 Grand Bay Dr. Unit 26 in Pelican Bay with 3,284 sq. ft. (92% of list price)
• $3,600,000 – 6368 Burnham Rd. in Quail West with 3,518 sq. ft. (92% 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.