Naples, FL (January 22, 2021) - Housing Market Demand Continues to Outpace Inventory in December.
Eager homebuyers did not waste any time in December as shown by pending sales for homes in the Naples area which leaped 88.6% to 1,535 pending sales (homes under contract) from 814 pending sales in December 2019.
This spike in buyer interest was also reflected in the 65% increase in showings during December, which amounted to an average of 10 showings per listing.
According to the December 2020 Market Report, released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), inventory continued to struggle to keep up with growing buyer demand. The number of available homes for sale in December 2020 decreased 49.1% to 3,140 homes from 6,163 homes in December 2019.
Overall sales in December increased 45.4% to 1,396 closed sales from 960 closed sales in December 2019. “As a direct result of the effects of the pandemic, 2020 was one of the first years in history where we saw more buying activity in the second half of the year than during the first half of the year,” said Mike Hughes, Vice President of Downing-Frye, Realty, Inc.View More