Naples Real Estate Summary for April 2019

The Naples Real Estate Summary for the month of April shows a significant increase in closed sales for the month compared to April of last year. Overall, closed sales increased 12.8 percent to 1,158 properties in April 2019 from 1,027 properties in April 2018. In particular, condo sales were very strong with 656 units sold which is a 20.1 percent increase over last year. Additionally, single-family homes sales increased for the month, up 4.4 percent over the same time last year. Finally, closed sales for this April were 17 percent higher than March of this year and homer buyer traffic continues to be strong despite the fact season has ended.

Mike Hughes, Vice President and General Manager for Downing-Frye Realty, Inc. said, “Despite old-fashioned beliefs that our area is predominately seasonal, the last few years of home sales activity after Easter are proof that this is just not the case anymore.” Hughes added that – from a buyer’s perspective – “the late spring and summer months are a great time to buy because there has always been a good selection of homes in all price ranges.”

Naples April Inventory

The latest report from the Naples Area Board of REALTORS® (NABOR®), showed almost 1,000 properties went from active to either terminated, expired, or withdrawn in the Southwest Florida MLS during April. As a result, the inventory level decreased 11.1 percent down to 6,435 properties for the month from 7,239 properties in April 2018. Although overall inventory decreased, listings for condos increased 9.2 percent during April. However, new listings of single family homes fell 3.2 percent.

The Luxury Real Estate Inventory, homes priced above $1,000,000, saw an increase in inventory for single-family homes but a decrease in condos inventory. And, the months’ supply for the Naples Luxury Real Estate Market is in the double digits ranging from 12 to 15.5 months. A healthy inventory level is between 6-7 months. Therefore, if you’re looking to buy a luxury property now is a good time to move forward.  It is definitely a buyers market and sellers should be more willing to negotiate.

On the flip side, inventory of homes priced less than $500,000 only has a 6 to 7 months supply of inventory making it a balanced market.

Naples Geographical Real Estate Trends

From a geographical perspective, the Naples Beach area  (34102, 34103, 34108) was blazing hot! There was a 44.6 percent increase in closed sales for its single-family homes market and a 12.5 percent increase in closed sales for its condo market. Location, location, location!

Also notable was the 22 percent increase in condo sales in the Central Naples area (34104, 34105, 34116). East Naples area had a 36.4 percent increase in condominium sales and the South Naples area (34112, 34113) led the way with almost a 50 percent increase in condo sales during April.

One trend that continues to be applauded by broker analysts is the adoption by sellers to price their homes appropriately – based on actual comparisons of recently sold homes – in order to gauge their home’s estimated value rather than pricing their homes based on unvalidated values.

Naples Real Estate Summary – Percentage Change Year-Over-Year

Naples Real Estate Summary Reports:

April 2019 Statistics

Latest Collier County Real Estate Transactions

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