Luxury Home Buyers Active

Luxury Home Buyers are Back and Active

January Home Sales are off to a strong start with Luxury Home Buyers leading the way. Inventory dropped 26 percent down to 5,761 properties in January 2020 compared to 7,773 properties in January 2019. However, overall closed sales in Collier County increased during the same time period. Especially in the luxury real estate market.

January 2020 versus January 2019 Real Estate Trend Highlights

Single family home sales increased by 14 percent with 722 Naples area real estate transactions
Condo sales increased to 361 sales which is a 31 percent increase compared to last January
Overall pending sales increased to 1,359 representing a 33 percent increase
Overall inventory fell 26 percent down to 5,761 properties for sale compared to this same time last year
Days on market increased to 107 days which is a 12 percent increase over January 2019

Closed Sales:

A 22 percent increase in January’s overall closed sales has many broker analysts optimistic that continued strong sales activity can be expected through the first quarter. According to Mike Hughes, Vice President and General Manager for Downing-Frye Realty, Inc., “Unlike the first quarter of 2019, homebuyers should move quickly, as time is not your friend this quarter,” said
“especially those in the high-end home market”. As evidence, there was a 20 percent increase in closed sales year-over-year ending January 31st for single family homes between $1 million to $2 million.

Additionally, according to the latest Showing Time report, the number of showings of single-family homes in the $1 million to $2 million price category increased by 109 percent in January 2020 compared to January 2019.

Overall, if you look at both single family home and condo sales, the $1,000,000 to $2,000,000 price category showed the most activity with a 13.4 percent increase. In fact, all price categories were up between 5.7 percent and 13.4 percent. The one exception was the ultra-luxury real estate market which saw a slight decrease of 1.1. percent (homes priced above $2 million).

In all, a total of 10,414 properties sold in January 2020 compared to 9,562 sales in January 2019 which is an 8.6 percent increase. Homebuyers are clearly active to start the year, especially luxury home buyers.

Inventory:

The good news is we actually gained 360 more listings in January than what was available to buyers in December. Ultimately, Collier County has a 6.6-month supply of homes, which is much higher than many other hot markets in Florida. A healthy level of inventory is considered to be 6 to 7 months of supply of homes for sale. Therefore, the Naples area inventory is in great shape which is good news for both buyers and sellers.

Naples Real Estate Market Reports

Naples Area Market Report

Begin Your Naples Property Search

So, if you’re ready to begin your search for your Naples home, or a Southwest Florida Luxury home or condo, we encourage you to explore our website to find information about communities in the area. If golf is your game, we specialize in golf community real estate and would be happy to help you navigate the more than 150 different golf communities in our area. If you prefer a more direct approach, we will provide a list of properties that meet your criteria and/or communities that meet your needs.

Also, if you are considering new construction, remember the contractor’s real estate agent represents the builder’s best interest, not yours. There is no cost for you to have an agent represent you. In fact, we may be able to help you save money and negotiate for extras which the builder may not let you know about.

Lastly, we will handle all contract negotiations for your property from offer to close!

Considering Selling your home?

Since home sales remain strong in Southwest Florida, now is a good time to consider selling your property. If you are looking to sell a home in Bonita Springs, Estero or Naples, we encourage you to work with a Professional Real Estate Agent or REALTOR® who has the experience and knowledge to provide an accurate market comparison so you can determine the right asking price. If you live in a golf community in southwest Florida, you are competing with more than 150 other golf communities. Contact us today to learn how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price.

Bottom Line:

If you’re looking for a focused and goal-oriented real estate representative in Naples, Bonita Springs, Estero or Fort Myers who will help you achieve your Real Estate needs, please reach out to us directly. Additionally, if you are looking for a golf community expert or you are considering buying or selling a home, a luxury home, vacation home, golf home or dream home, call us or text us at 239-370-0892 or email Matt at Matt@NaplesGolfGuy.com

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