Naples, Fla. (October 27, 2023) – New listings in Naples during September increased 27.3 % to 937 new listings from 736 new listings in September 2022, making pre-season buyers very happy. According to the September 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), overall inventory continues to inch upward steadily.
For September, inventory for the single-family home and condominium markets increased 13.2% to 2,793 properties from 2,468 properties in September 2022. The report also demonstrated that pre-season homebuying is starting earlier every year as pending sales (homes under contract) in September increased 18.7 % to 735 pending sales from 619 in September 2022 and 687 in September 2019 (pre-pandemic).
The median closed price in September increased 3%% to $571,500 from $555,000 in September 2022. Interestingly, the September report indicated 723 price reductions compared to 80 price increases during the month. The combination of new listings plus price reductions on existing inventory made September a great month to purchase a home. Historical data in the report confirms prices and competition during the autumn months are lower than in the winter months.
“The report showed the average closed price increased over 13% (month over month) for September,” said Budge Huskey, CEO, Premier Sotheby’s International Realty. “While we are seeing appreciation rates decelerate across all markets, Naples continues to command top values for quality properties.”View More