Greater Naples Real Estate News & Market Trends

Browse our blog for the latest news, trends, market reports and any relevant information about real estate, lifestyle in the Greater Naples area: Naples, Marco Island, Bonita Springs, Estero, Fort Myers, Fort Myers Beach and Cape Coral.
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Aug. 28, 2022

Naples Real Estate Market Report - July Home Sales Return to Prepandemic Levels

Naples, FL (August 23, 2022) – Naples housing market experts reviewing the July 2022 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), confirm the data reflected familiar activity levels akin to prepandemic summer months. Historically, closed sales in Naples during summer months trend around 800 sales a month. But during the last two years, summer sales were well above 1,000 closed sales a month. This July, overall closed sales decreased 43.4% to 662 closed sales from 1,170 closed sales in July 2021. For perspective, in July 2018 and 2019, there were 774 and 829 closed sales, respectively. The current level of activity is what market experts expected in a postpandemic summer and consider it a sign that we are on a path back to a balanced market.

Naples Real Estate Market - July 2022 Infographic

Additional indications in the July report that support this shift is the number of pending sales. As such, overall pending sales decreased 33.8% to 751 pending sales from 1,135 pending sales in July 2021. The tempering of closed and pending sales, which began in June, is producing one very welcome result: an increase in inventory. In July, inventory rose 87.6% to 2,429 properties from 1,295 properties in July 2021 (there were 5,200 properties in inventory during July 2019).

“In a balanced housing market, buyers have more opportunities,” said Brenda Fioretti, Broker. “They might look at five or six homes, maybe take a break for a couple of days, then go look at five or six more. That’s possible in a balanced market because homes aren’t flying off the shelf.”

Starting in the fall of 2020 and continuing into this past spring, the Naples housing market experienced remarkable sales activity that was fueled by a frenzy of home buying by those seeking the ideal Naples lifestyle. However, as pandemic pandemonium diminished, broker analysts predicted a slow, gradual return to a balanced market would occur in Naples.

Dominic Pallini, Broker at VR, remarked that, “We have a very resilient market. When sales went off the charts during the pandemic, our inventory plummeted, and this contributed to price increases. In July, there were 905 price reductions compared to 293 price reductions in July 2021. But demand is still very high. The difference is that today, buyers don’t feel the pressure to buy like they did during the pandemic. They are taking their time to find a home that they feel justifies the price.”

Adding his opinion that our market has shifted and is now on a trajectory to become balanced again, “The report showed pending sales were off less than closed sales in July, which indicates we have likely reached the bottom and can expect to now turn the other way.”

 Market experts reviewing the July report say buyers should not expect home values to drop dramatically. While year over year price growth is trimming, demand is still high, and inventory is still not at prepandemic 2019 levels. The median closed price in July increased 16% to $545,000 from $469,950 in July 2021; it decreased 9.8 percent from $604,000 in June.

The NABOR® July 2022 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. NABOR® sales statistics are presented in chart format, including these overall (single-family and condominium) findings for 2022: 

July 2022 - Naples Real Estate Market Chart

“Pre-COVID, we were averaging 90 days on market,” said Adam Vellano, a Naples Sales Manager at CF. “We are currently at 26 days on market, so while we are moving in the right direction, we still have a long path back to being balanced.” 

“For sellers who were sitting on the fence, it appears they might have missed the pandemic peak,” added Huskey. “The fact that we are no longer in nirvana is further supported by other data in the report including the number of listings withdrawn in last three months.”

Jeff Jones, Broker at KW Naples, responded by stating, “While down compared to July 2020 and July 2021, the number of new listings coming on to the market this July [944] was still slightly higher than it was in July 2019 [935].”

With regard to the 905 properties that had a price reduction in July, Jones repeated his message to buyers in June that, “Price reductions should be viewed as new listings because the newly lowered price is now attractive to a larger pool of buyers. Thus, these properties represent new opportunities for home buyers.” 

Fioretti summed up the market experts’ analysis of the July report by stating, “In a balanced market, buyers tend to place reasonable offers on homes and sellers tend to accept them. Homes remain on the market for a moderate amount of time—neither lagging for months nor getting snapped up in mere hours or days. Home prices remain stable or grow at a steady pace. My advice to buyers is, ‘Don’t wait for prices to go down. Lower your expectations so you can jump into the home ownership arena now. Interest rates are still lower than what they may be in the future.’

 View Detailed  Naples Real Statistics Estate for July 2022... 

Aug. 1, 2022

Bonita & Estero - June Market Report - Increase in Inventory for Bonita Springs and Estero Real Estate

The Bonita Springs & Estero Board of Realtors just released their market activity and statistics for June 2022.

In June 2022, inventory (305 listings) is up 107% compared to June 2021. That is a 2.1-month supply instead of 0.9-month supply in June last year. 
The report also show 168 closed sales in June 2022 with a 80% of cash transactions.
The median sale price is $692,450 compared to $497,000 last year. A 39% increase. 

Bonita Estero Stats June 2022

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July 26, 2022

Naples Real Estate Market Report - June - Real estate Market Shows Signs of Balancing

Naples, FL (July 22, 2022)Data reflecting activity in the Naples area housing market during June showed signs of a return to pre-pandemic summer activity when market conditions were balanced.
According to the June 2022 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), pending sales decreased 36.8% in June to 794 pending sales from 1,236 pending sales in June 2021, and closed sales decreased 38.4% in June to 952 closed sales from 1,545 closed in June 2021. On the positive side, an 80.5% increase in inventory during June to 2,294 properties from 1,271 properties in June 2021 is expected to spark sales.

“It appears the housing market in Florida is returning to a more traditional seasonal environment,” said Budge Huskey, CEO, Premier Sotheby’s International Realty. “We began to see a deceleration in sales during May and median closed prices for single family homes dropped in June compared to May as well.”

With 2.2 months of inventory available in June (up from .8 months in December 2021), the journey back to a balanced market is starting to take place. But broker analysts say it will be a slow climb. Huskey added that, “We will remain in a sustained low inventory environment this year, which will serve to insulate prices. In almost all segments of the market, it will prove a story of deceleration rather than depreciation.”

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June 24, 2022

Naples Real Estate Market Report - May - Inventory Heating Up is Good News for Summer Buyers

Naples, FL (June 24, 2022)“May had the highest number of new listings than any May in the last three years.” Fellow brokers who also analyzed the May report are pleased with this trend as it will lead to more options for summer buyers. 

New listings during May pushed the inventory of homes for sale up 58.6% to 2,046 properties compared to 1,290 properties in May 2021.

“Inventory has been rising since December,” said Jeff Jones, Broker at KW Naples. “By the end of May, our inventory in Naples has nearly doubled since the same time a year ago. And if you include the 889 homes that had a price reduction in May to this inventory mix, then we’re in good shape heading into summer. Price reductions are basically like new listings because the home’s new price point becomes a new opportunity to a larger pool of buyers.

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May 23, 2022

Naples Real Estate Market Report - April - Signs Show Naples Housing Market is Regaining Balance.

Naples, FL (May 23, 2022)Overall inventory in Naples during April increased 16.5% to 1,668 properties from 1,432 properties in April 2021. Fueled by a swell of new single-family home listings, up 5.7% over last year, broker analysts reviewing the April 2022 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), are confident the Naples area housing market has reached a crossroad and is making its turn toward a balanced and healthy market.

“It’s been thirty months since we’ve seen this many single-family home sellers enter our market in one month,” said Bill Coffey, Broker Manager of Amerivest Realty Naples. Coffey, along with several top brokers in Naples, say the shift indicates the Naples area housing market is redefining itself. Another major factor that signified the market was self-correcting to a new normal in April were the 549 price reductions (33% of the inventory) during the month.

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May 2, 2022

Major development breaking ground on Immokalee Road in Golden Gate Estates

A local development that includes a 400-unit apartment complex and about 350,000 square feet of commercial construction is expected to break ground this week on nearly 70 acres on Immokalee Road in Golden Gate Estates. 

The property on the west side of Immokalee Road just after it curves north at what is known as the Randall Curve, begins on the northwest corner of where Fourth Street Northeast lines up with Randall Boulevard and ends just beyond the traffic signal at Orange Tree Boulevard, south of Oil Well Road. The Davis Group, a commercial developer based in Atlanta, owns slightly more than 50 acres that it has named Randall at Orangetree on development plans filed with Collier County, while another more than 19 acres interconnected to its north are being jointly developed by Naples-based Barron Collier Companies and Metro Commercial. Peninsula Engineering, one of the Barron Collier Companies, is involved with the development of both properties. 

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Posted in Naples, New Development
April 26, 2022

Naples Real Estate Market Report - March - Rising Inventory Encouraging.

Naples, Fla. (April 22, 2022) – Demand for the Naples lifestyle remains strong as closed sales in March increased 49.9% compared to closed sales reported in February. Although closed sales decreased 36.5% to 1,205 in March 2022 from 1,899 in March 2021, the increase from February to March was a welcome result of a steady wave of new listings. 

According to the March 2022 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), new listings decreased only 4.3% to 1,637 new listings from 1,711 new listings in March 2021. If this wave of new listings remains steady during the coming months, it could mean more options for buyers navigating the area’s limited inventory.

“New listings are almost where they were a year ago,” said Mike Hughes, Vice President and General Manager for DNFY. “Overall, the report showed new listings have risen since the end of last year, over a three-month period.”

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March 26, 2022

Naples Real Estate Market Report - February - Sellers are Taking Advantage of Home Values Hitting Record Highs

Naples, FL (March 25, 2022) – More sellers are motivated to enter the market as home values continue to rise as a result of limited inventory and high demand in the Naples area. 

The overall median closed price in February was $550,000, a 37.5% increase over the median closed price in February 2021. The high demand for homes is demonstrated by the number of showings in February, which was 43,032. When divided by the number of homes in inventory during February (1,176), this translates to 36 showings per home. For perspective, in 2019 there were 2.9 showings per home.
The data also shows that homes sold fast in February, within 23 days on the market, and the% of list price received was 100.6%, which pleased many sellers.

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Feb. 25, 2022

Naples Real Estate Market Report - January - Low Inventory & High Demand Continues to Push Home Prices Up in January

Naples, FL (February 25, 2022) – A 34.5% increase in new listings sparked 19,277 more showings during January compared to new listings and showings reported in December 2021. While an increase in new listings demonstrates a solid start for the real estate market this year, low inventory continues to harness the market’s potential. 

As a result of tight inventory, January sales activity could not meet the level of sales activity reported in January 2021. Historically, month to month sales activity during season ascends through April. But according to broker analysts reviewing the January 2022 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), a 74.9% decrease in inventory for January to 1,122 homes from 4,474 homes in January 2021 will not provide the same level of sales transactions that occurred last season.  

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Feb. 16, 2022

Lower Supply, Higher Prices Continue to Challenge Lee County Home Buyers

Competition among buyers remains fierce as scarce inventory and higher prices continued to define the Lee County Housing Market in January, according to figures released by the Florida Gulf Coast Multiple Listing Service and reported by Royal Palm Coast Realtor Association.

The median sale price for single-family homes jumped 27.5% to $415,000 in January compared to a year ago, while condominiums and townhomes increased 30.9 percent to $294,500. The market saw an inventory decrease of 74.9% for all property types in Lee County versus a year ago.

There were 1,593 homes of all types for sale in Lee County last month, compared to 6,348 last year at this time — a decrease of 74.9%. Days on market until sale came in at 20 days for all property-type homes in Lee County last month, compared with 57 days in January 2021.

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