2022 Naples August Real Estate Recap

The Naples August real estate recap showed 669 properties sold for just over $990 Million. The largest sale was for $27,367,069 in Port Royal. Additionally, the luxury market remained strong as evidenced by the 148 properties that sold at or above $1 Million. How does this compare to the previous month? August saw higher sales volume than July when 662 properties sold for $950 Million and 139 homes sold at or above $1 Million.

Naples Buyers and Sellers are asking us daily, “Is Naples on Sale?” or “Is it now a Buyers market?”. The answer is no, the Naples housing market is not on sale and it is not a buyer’s market, at least not yet.

If you’ve been following the national headlines, you are probably asking how I can possibly say Naples isn’t on sale. Ultimately, housing is local in nature and what is happening in Naples and other resort towns doesn’t mirror national trends according to the data.

Locally, throughout Florida and nationally, the median sales price increased during August over last year during the same time. In the Naples area, the median sales price was up 25% for single family homes and 34 percent for condos. Nationally, the overall median sales price was up 19.9 percent.

So, while year over year data is similar locally and nationally, when you start to look at recent month over month data, there is a difference between local trends and national trends. In Naples the median price for single family homes fell by less than 1 percent and condos rose 6.8 percent. Conversely, the national median sales price has fallen for two consecutive months.

Additionally, our inventory remains historically low. During 2019, before the pandemic, we had 4,917 properties for sale compared to just 2,140 this August. This is less than half of what we traditionally have for sale this time of year and this is our slow season. Also, inventory has fallen even further since the end of the month. We are now down to 2,124 properties for sale. As long as inventory remains low and demand high, prices are expected to continue to rise.

Naples August Real Estate Recap

August 2022 versus August 2021 Highlights

• Closed sales decreased 37 percent compared to August of last year.
• Overall pending sales decreased 19 percent versus the same time in 2021.
• Inventory increased 71 percent up from 1,249 homes to 2,140 homes for sale.
• Average days on market increased 35 percent up to 31 days.

In all, there were 488 single-family homes and 324 condos sold for a total of 669 sales during the month which was a 37 percent decrease over last year.

Once again, sales of both single family homes and condos sold close to or slightly above list price. Single-family homes came in at 98.9 percent compared to 97.9 percent this time last year.  Condos were at 100.4 percent versus 97.5 percent in 2021. This is another indication the Naples housing market is not on sale.

For Sellers, the peak appears to have come and gone. However, sellers still have the opportunity to sell at a premium price. The Naples Golf Guy team members are all REALTOR® professionals who have the ability and expertise to provide you with an accurate market comparison using current market data. Call, email or text us today for a FREE home evaluation – 239.370.0892.

Why is The Naples Housing Market Different?

There are numerous factors which continue to make Naples an attractive destination for homeownership. We all know the golden rule of real estate “location, location, location!”, Naples is a prime example of how the golden rule impacts property values:

• Tax-Friendly – no state income tax and low property taxes
• Lower cost of living relative to major metropolitan cities throughout the country
• Weather – Approximately 264 sunny days per year
• Health and Wellness – World-class healthcare combined with numerous outdoor activities such as golf, pickleball, tennis, biking, and more!
• Safety – Ranked the safest place to live by U.S. News and World Report
• Work from home flexibility
• Low density compared to other areas of Florida (only one-third of Collier County can be developed due to the Everglades, nature preserves and building regulations)

Demand continues to be high as evidenced with the amount of property showings. There were 5,000 more showings during August of 2022 than the pre-pandemic levels of 2019 which is more than we would expect at this time of year.

All that said, the market has slowed, but this is typical and expected this time of year.  We do believe the days of multiple offers above list price are over given the increase in days on market and over-priced properties correcting to established market levels.  As of late it is rare when properties sell below these levels.

There are a number of large moving parts in the world around us at the moment, with this uncertainty many buyers have put themselves on the sidelines.  If you are one of these folks, this may be a good time to research the communities, and country club or clubs you’d ultimately like to be a part of.

Along the way and while we wait we can help you keep an eye on the market with a custom property search that is fully automated or sign up for automatic property alerts.  Please feel free to call us any time to set up the alerts for you based on your criteria, its an excellent tool to have on your belt!

Naples Luxury Home Sales in Exclusive Golf Communities for August

• $7,180,000 – 2340 Alexander Palm Dr. in Grey Oaks with 5,800 sq. ft. (100% of list price)
• $5,852,000 – 16952 Cortile Dr. in Mediterra with 5,852 sq. ft. (98% of list price)
• $5,750,000 – 8171 Bay Colony Dr. Unit 1103 in Pelican Bay with 2,604 sq. ft. (96% of list price)
• $5,289,000 – 16763 Prato Way in Talis Park with 4,575 sq. ft. (95% of list price)
• $4,650,000 – 16647 Isola Bella Ln. in Talis Park with 5,582 sq. ft. (100% of list price)
• $4,200,000 – 5899 Burnham Rd. in Quail West with 4,182 sq. ft. (93% of list price)
• $3,300,000 – 7575 Pelican Bay Blvd. unit 1705 in Pelican Bay with 2,675 sq. ft. (110% of list price)
• $3,100,000 – 643 Venezia Grande Dr. in The Vineyards with 4,438 sq. ft. (86% of list price)
• $3,100,000 – 2814 Wild Orchid Ct. in Olde Cypress with 4,338 sq. ft. (105% of list price)
• $2,995,000 – 2955 Tiburon Blvd. E. in Tiburon with 3,601 sq. ft. (100% of list price)

View large single-family homes for sale in Naples golf communities…

View large single-family Naples luxury homes for sale…

Considering Selling Your Naples Home?

With 20 years of experience helping sellers with their golf community real estate needs, we would like to share our strategy for how we’re helping maximize the number of offers homeowners are receiving and ultimately higher sales prices.

Our team is committed to extraordinary customer service with an emphasis on detail and frequent communication.

We collaborate with our sellers to design and implement a customized marketing campaign to present your property to maximize your exposure to potential buyers. We are dedicated to making the sales process easy for you and your family.

We would very much like to meet you and learn about your home and help provide a stress-free selling environment for you and your family. As you may well know, opportunities such as today’s market for sellers only comes every so often.

Call, email or text us today for all of your real estate needs – 239.370.0892.

Home Selling Tips…

August 2022 Naples Real Estate Statistics

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