Nov. 2, 2021
Naples, FL (October 22, 2021) – Home sales in September would have been stronger if there was more inventory, say broker analysts reviewing the September 2021 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island).
Historically, September is the slowest month for home sales in Naples, but the area’s reputable natural beauty and home-value potential continue to increase its desirability to home buyers.
Closed sales in September decreased 18.9% to 914 closed sales from 1,127 closed sales in September 2020, a result of low inventory.
A decrease of 213 homes sales might seem like home buying interest is waning but consider the inventory factor.
In September 2020, there were 5,287 properties available. While in September 2021, the month ended with just 1,251 properties for sale (a 76.3% decrease). Comparing showing activity also sheds light on the situation.
There were roughly 23 showings per home during September compared to under seven showings per home in September 2020. Basically, more buyers are looking at fewer properties this year.
“Unfortunately, the numbers can’t tell us the full story,” remarked Adam Vellano, a Naples Sales Manager at Compass Florida. “We know demand is strong, but at the current inventory level, it’s hard to sustain the level of sales we have done in previous years.”
But Budge Huskey, CEO, Premier Sotheby’s International Realty, says there are signs to be optimistic. “I’m seeing more and more development companies from around the country putting their money on Naples. They know Naples still represents a great value compared to other desirable locations around the country and investing at today’s prices shows they think Naples will only become even more desirable in the future. They are confident the level of demand and overall values have room to run.”