An inspection costs a few hundred dollars now yet could save buyers tens of thousands of dollars later. Still, bidding wars and an inspector shortage have stifled demand.

CHICAGO – The hot housing market is prompting an increase in waived home inspections. But while in the past it has been an option for buyer concessions, it’s now not always being done to make an offer more enticing in a bidding war.

In some areas, a home inspection must be booked weeks in advance because inspectors’ services are in such high demand – and buyers’ contracts may give them only seven days to get an inspection completed. The tight deadlines are prompting some buyers to waive the inspection – a potentially costly mistake.

Naples, Fl - September 18, 2020 - Summer Housing Market Momentum Expected to Continue into Fall

Closed sales activity in the Naples area housing market maintained steady momentum through August with a 35.2% increase in overall closed sales to 1,098 closed sales from 812 in August 2019.
According to the August 2020 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), home buying activity in Naples during the last three months exceeded activity reported in the first three months of 2020, more typically known as our peak resident season.
Broker analysts reviewing the report predict this momentum, driven from more closed sales, more new pending sales, and more new listings compared to a year ago, will set the Naples area housing market up for continued positive performance into the fall months.

The market report showed August had the highest month-over-month increase in pending sales compared to any other month reported in 2020, with a 70.4% increase to 1,479 pending sales from 868 pending sales in August 2019.

Not surprising, homebuyers seeking single-family homes continued to tilt the scales in August as the report showed a 76.4% increase for this home category, while pending sales of condominiums increased 63.9%.
In comparison, this summer's closed sales have eclipsed our peak season's closed sales as there were a combined 3,133 closed sales reported during June, July and August compared to a combined 2,659 closed sales reported in January, February and March.

August's inventory decreased 29.1% to 4,174 properties from 5,887 properties in August 2019.

Ave Maria in Collier County continues to set sales records with its best month ever, reporting 60 new home sales in August.

Home sales more than doubled month over month for August and 24 new homes were reported in the first week of September, according to Cee Cee Marinelli, director of development for Ave Maria.
Announcing 309 new home sales year-to-date, the master-planned community has already surpassed its total sales for the entirety of 2019. Home sales were reported from the four residential builders in Ave Maria—CC Homes, Del Webb Naples, Lennar and Pulte Homes.

At its build-out, the town will include up to 11,000 residences, and 1.7 million square feet of retail, office and business park uses in its 4,000 acres.

Search for Homes in Ave Maria.

Annual sales of single-family homes in Marco Island were up 9.27% from 388 measured in August 2019 to 424 measured in August 2020, according to a news release.

Closed sales for the month of August increased by 48.65% in a year-over-year comparison. Pending sales were up by 109.09%. August inventory was down by 48.35% in a year-over-year comparison.
Annual sales for condominiums in Marco Island were up by 0.42%, and closed sales for the month of August were up by 21.43%.
Inventory was down by 6.23%.

View Marco Island Real Estate.

Naples, Fl – August 21st 2020 – Naples Housing Market Sees Summer Sales Surge

The July report shows consumer confidence is growing for both sellers and buyers in Naples this summer.

The Naples housing market experienced a continued surge in activity during July 2020, which resulted in a 57.3% increase in pending sales (homes under contract) for the month, compared to July 2019.

Closed sales during July increased 35.4% compared to July 2019 – greatly surpassing June’s closed sales activity following the lifting of COVID-19 restrictions. However, a decreasing supply of inventory, which broker analysts believe is caused by heightened home buying interest this summer, is making it difficult to keep up with the strong buyer demand.

The tapestry of out-of-state license plates on local roads may be an unfamiliar summer sight to local residents, but according to broker analysts reviewing the July 2020 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), these visitors are here to do more than just golf and visit the beach this summer.

“A considerable number of buyers already looked at homes during season [January and February], prior to COVID-19 restrictions,” said NABOR® President. “They watched and waited during those months of restrictions and are now back to buy a home this summer.”

There were 15,634 showings during July, less than half the number of showings during June (36,912), yet pending sales increased which indicates that properties were purchased virtually, sight unseen. July’s pending sales spiked to 1,446 pending sales in July 2020 from 919 pending sales in July 2019.