Naples May Housing Activity Shows Solid Market

Great news for the Naples May Housing Report which shows activity remains strong and reconfirms the market was solid for the month of May. Overall, Naples closed sales totaled 1,024 transactions for the month, compared to 1,027 closed sales in May of last year according to the latest Market Report released by the Naples Area Board of Realtors (NABOR).

Additionally, May also showed inventory levels continue to stabilize. For homes in the the $300,000 to $500,000 price category, closed sales of properties in May increased 21 percent over May 2017. And, May’s overall median closed price fell 5 percent to $337,000 from $355,000 compared to last May.

Also, the overall median closed price for homes priced above $500,000 decreased 14 percent from $590,000 last year, down to $507,000 in May 2018.

For the Naples Luxury real estate market, the median closed price increased 11 percent increase. Additionally, pending sales of properties in the $2 million and above price category increased 23 percent in May 2018 compared to May 2017.

Naples May Housing Snapshot

May Housing Activity Highlights:

Ultimately, we continue to show similar activity as last year which was strong. In fact, last year May sales were 23 percent higher than the previous year. And, inventory is holding steady which is a positive sign as we move into the summer months. Finally, if you look at the weekly real estate sales reports, you’ll see a significant amount of activity week in and week out.

Most noteably, inventory levels haven’t been this high since 2013. Overall inventory in May rose by 15 properties compared to May 2017. The report also showed inventory rose in May for both single family homes and condominiums priced below $500,000, which accounted for 58 percent of the available market in Collier County at the end of the month.

Naples May Housing Activity By Location:

Geographically, North Naples showed the strongest activity for the month. Also, inland in the Ave Maria area we’ve seen activity increase steadily over the last year. In May it was off the charts when we saw single-family home closed sales skyrocket up 40 percent.

What’s Next?

Industry experts expect the summer months to remain strong. We have adequate inventory and provided homes are priced correctly, we should continue to see a significant amount of activity. The days of season only running from January through Easter are over.

Begin Your Own Property Search:

So, if you’re ready to begin your Naples Luxury Real Estate search for your dream home or condo, I encourage you to explore my website to find information about communities in Southwest Florida. If golf is your game, I specialize in golf community real estate and would be happy to help you navigate the more than 100 different golf communities in our area. If you prefer a more direct approach, I will provide a list of properties that meet your criteria and/or communities that meet your needs.

Bottom Line:

If you are buying a home in a golf community, you will find it’s more complex than a typical home purchase. As you can probably imagine, there are significant differences between golf communities. There are many different fee structures, membership options, pet restrictions, demographics and many other details that apply to the Southwest Florida golf communities.

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 to you to have an agent represent you. In fact, I may be able to help you save money and negotiate for extras which the builder may not let you know about.

If you’re looking for information about a specific community in Southwest Florida, please contact me and I will prepare a custom market report for you. I will provide the market information and insights to help make sure you select your dream home!

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