2022 Naples July Real Estate Recap

The latest Naples July real estate recap showed 662 properties sold for just over $950 Million! The largest sale was a Port Royal home for $19,900,000. Additionally, the luxury market remained strong as evident by the 139 properties sold at or above $1 Million.

Once again inventory increased compared to last year. The month ended with 2,429 properties for sale. While the increase is good news, it is just a step in the right direction.

At first glance an 88 percent increase in inventory seems like a lot. Yet, if you compare the number of homes for sale this July against July of 2019 when we had 5,200 properties on the market you can see we have a way to go before we return to a normal environment.

Market experts reviewing the July report say buyers should not expect home values to drop dramatically. Year-over-year growth has slowed; however, demand remains high, and inventory remains low.

For Sellers, the peak has come and gone. However, you still have the opportunity to sell at a premium price. It is important for both sellers and buyers to know the days of multiple offers above list price within 24 hours are over. Buyers are now taking their time in evaluating properties to ensure they find one that will fit their lifestyle and at a price they can justify.

Naples July Real Estate Recap

July 2022 versus July 2021 Highlights

• Closed sales decreased 43 percent compared to July of last year.
• Overall pending sales decreased 34 percent versus the same time.
• Inventory increased 88 percent up from 1,295 homes to 2,429 homes for sale.
• Average days on market fell 7 percent down to 26 days.

In all, there were 324 single-family homes and 338 condos sold for a total of 662 sales during the month which was a 43.4 percent decrease over last year. Single-family homes saw a modest increase in the median price which rose 17.7 percent up to $730,000. Condos saw a larger increase up 21.9 percent up to $426,500. While these numbers are up over last July, the overall median sales price decreased 9.8 percent compared to June of this year. This is just one indication we have started the journey back towards a normal market.

Additionally, we also saw a decrease in the percentage of current list price received by a Seller. Single-family homes came in at 97.4 percent compared to 99.2 percent at the same point last year and condos were at 98.3 percent versus 99.4 percent in 2021. 

Also, there were 905 price reductions compared to just 293 in July of last year. Similar to the previous month, many of the price reductions were on properties which overpriced from the get-go. If you are considering selling, pricing strategy plays a key role in the home selling process and can mean the difference between selling right away or sitting on the market for months.

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.

On the other hand, if you are a buyer, you now have more options due to the increased inventory. Also, properties are staying on the market longer than they were in June when it was just 18 days compared to 26 days in July. One note of caution, there are still some neighborhoods with zero or extremely limited inventory. If you are planning a purchase in such a neighborhood, you still need to be prepared to move quickly.

Whether you are considering buying now or in the future, sign up for automatic property alerts or call us and we’ll set up the alerts for you based on your criteria.

Naples Luxury Home Sales in Exclusive Golf Communities for July

• $7,649,000 – 6598 Ridgewood Dr. in Pelican Bay with 4,988 sq. ft. (100% of list price)
• $5,850,000 – 2927 Indigobush Way in Grey Oaks with 4,385 sq. ft. (100% of list price)
• $4,700,00 – 7935 Vizcaya Way in Pelican Bay with 3,724 sq. ft. (98% of list price)
• $4,550,000 –8787 Bay Colony Dr. Unit 1405 in Pelican Bay with 3,415 sq. ft. (106% of list price)
• $4,450,000 – 29020 Marcello Way in Mediterra with 4,353 sq. ft. (93% of list price)
• $4,200,000 – 4235 Cortland Way in Quail West with 4,207 sq. ft. (84% 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.

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