Naples September Real Estate Recap

2022 Naples September Real Estate Recap

The Naples September real estate recap showed 523 properties sold for just over $855 Million. The largest sale was for $11,000,000 in Naples Cay. Additionally, the luxury market slowed a bit compared to the previous month as evidenced by the 109 properties that sold at or above $1 Million compared to 148 sales during August.

Naples Buyers and Sellers are asking us daily, “what will happen to home prices after the storm”? Although time will tell, what we can share is what has happened after previous storms. Based on past experience, home prices have increased after a hurricane.

While there are definitely some homeowners who say they will never go through another storm and are ready to sell, the vast majority plan to rebuild or buy another home in Southwest Florida.

In fact, according to the founder of Florida Economic Advisors and faculty members of the University of South Florida, an already tight supply of affordable housing will likely grow tighter, and buyer demand may grow for nearby beach areas relatively unharmed after the storm. As a result, homeowners in the Sanibel and Ft. Myers beach area are looking to relocate to other coastal destinations such as Naples, Bradenton, and Sarasota.

So, we were already facing low inventory prior to Hurricane Ian. Now we have homeowners looking to rent or purchase another coastal area home. Additionally, in many cases it is actually cheaper for many homeowners to purchase another home than rent due to significant increases in rental rates.

Naples September Real Estate Recap

September 2022 versus September 2021 Highlights

• Closed sales decreased 44 percent compared to September of last year.
• Overall pending sales decreased 43 percent versus the same time in 2021.
• Inventory increased 55 percent up from 1,387 homes to 2,146 homes for sale.
• Average days on market increased 67 percent up to 40 days.

In all, there were 258 single-family homes and 265 condos sold for a total of 523 sales during the month which was a 44 percent decrease over last year. Keep in mind, the storm would have delayed some closings during the last week of the month. On the other hand, September is traditionally a slower time of year for the Southwest Florida area.

Unlike previous months, there was a slight decline in the sales price as compared to the list price for both single family homes and condos. Single-family homes came in at 95.9 percent compared to 98.7 percent this time last year. Condos were at 97.3 percent versus 99.9 percent in 2021. This is not to say the prices are lower than previously closed sales. It does, however, confirm the rate of appreciation has slowed which is a step in the right direction towards a balanced market.

Since inventory is still half of what we typically have at this time of year, Sellers still have the upper hand. So, if you are wondering if it is still a good time to list your home or whether or not you should do repairs before you sell, we will help guide you in the process and share what other Sellers are doing. You 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.

If you are planning to purchase, there is definitely a little wiggle room with negotiations. Since homes are sitting on the market a longer, it also means in most cases you have time to evaluate your options to ensure you are moving forward with the right property at the right price.

If you just want to keep an eye on the market, we can set up 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

• $6,850,000 – 4472 Wayside Dr. in Quail West with 5,506 sq. ft. (100% of list price)
• $6,000,000 – 6303 Burnham Rd. in Quail West with 5,933 sq. ft. (100% of list price)
• $6,000,000 – 16969 Verona Way in Mediterra with 6,167 sq. ft. (100% of list price)
• $4,500,000 – 8171  Bay Colony Dr. Unit 903 in Pelican Bay with 2,604 sq. ft. (87% of list price)
• $3,950,000 – 6089 Tamworth Ct. in Quail West with 4,376 sq. ft. (94% of list price)
• $3,800,000 – 8111  Bay Colony Dr. Unit 801 in Pelican Bay with 3,065 sq. ft. (85% of list price)
• $3,600,000 – 4436 Wayside Dr. in Quail West with 6,917 sq. ft. (91% of list price)
• $3,550,000 – 2028 Isla vista Ln. in Grey Oaks with 3,682 sq. ft. (100% of list price)
• $3,425,000 – 1368 Noble Heron Way in Grey Oaks with 3,665 sq. ft. (99% of list price)
• $3,400,000 – 8686 Purslane Dr. in Pelican Marsh with 3,870 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.

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