Hello,Barry Hoey, Broker Owner of 🍀 239RealEstateDeals.Com LLC ☘ hope that you and yours are doing good.06-24-2022 - Hot off the press please find info from the just
🚨 June 2022 📢 Just Released Market Report for Naples Area with information for all of Southwest Florida ☘ Barry Hoey, Broker Owner 🍀 239RealEstateDeals.Com LLC ☘ SW FL 🌴
Dated: June 25 2022
Barry Hoey, Broker Owner of 🍀 239RealEstateDeals.Com LLC ☘ hope that you and yours are doing good.
06-24-2022 - Hot off the press please find info from the just released May 2022 Market Report with data from our Collier County based; Southwest Florida Board of Realtors; NABOR with this as part of the report: “Today, we have 1.9 months supply of inventory.” Barry & Kim with the Hoey Team, 239RealEstateDeals.Com LLC track the market daily here in the various Southwest Florida marketplace’s, where a healthy market, pre-covid was 6 months, and in some neighborhoods 12 months.
We have more sellers getting ready to sell at this time, and we are continually able to get 239 Area Deals for prepared buyers who want to relocate or have that second home here. Sellers or Buyers; reach out with any questions on the current market, call: 239-360-5527.
In addition, please also check out the stats in the different Naples / Collier County Property Types & Price Ranges.
Let us know if you want more information on any aspect of the Real Estate market here in Southwest Florida; Barry is a member of 4 different MLS Systems Covering all of Southwest Florida & beyond; we can provide Detailed Reports & Data for any area; Locally and Nationally including Custom Reports on the Luxury Real Estate Market in Naples, Marco Island and Lee County; encompassing all of Southwest Florida; just let us know if you want reports on other market areas.
Utilizing our 🍀 239RealEstateDeals.Com LLC ☘ Cutting Edge Technologies; including the best available Virtual Tools, etc. we are continuing to Efficiently Help Sellers & Buyers; previewing, showing, negotiate deals & Selling Homes; helping people to move / relocate across the US on a daily basis; even with relatively low inventory. Southwest Florida seems to keep increasing in desirability for buyers from all across the United States and internationally, both end users & investors.
Interesting Statistics for May 2022 versus May 2021:
· Overall inventory up 59%.
· Overall Pending Sales down 36%
· Median closed sale price up 40%.
· New Listings Up 8%
· Overall Closed Sales down 25%
· Single family home closed sales down 21%
· Condo home closed sales down 27%
· Days on market down 63%
Sellers, Buyers and REALTORS / Agents need be fully informed to help you make the best possible Real Estate decisions.
Inventory Heating Up is Good News for Summer Buyers
Naples, FL (June 24, 2022) – During a meeting to review the May 2022 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), long-time Naples broker Bill Coffey remarked that, “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 percent to 2,046 properties compared to 1,290 properties in May 2021.
“Inventory has been rising since December,” said Jeff Jones. “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.”
Though many of the brokers reviewing the report warn against comparing activity today to activity in the last two years. “If you look at the percentage of home sales since January compared to last year, it appears we are doing poorly [-32.5%],” said Budge Huskey. “But 2021 was not a typical year for home sales in Naples. We had record level sales last year. However, we also can’t compare activity today to 2020 because during the first half of that year, the country was under pandemic restrictions which caused sales to suffer.”
As such, Brokers prefer to compare this year’s activity to activity in 2019 as it was a balanced year with 7.3 months supply of inventory. “A healthy market for us is six to 12 months of inventory,” said Brenda Fioretti.
Looking at closed sales, there was a 24.5 percent decrease in May to 1,249 closed sales from 1,654 closed sales in May 2021. However, using 2019’s balanced market activity as a comparison, closed sales increased 7 percent month/month and 18 percent year to date/year to date. Demand remains strong despite having three times fewer options in inventory compared to 2019 levels. Today, we have 1.9 months supply of inventory.
Not surprisingly, low supply and high demand are driving price increases in Naples and across the nation. “Macro factors are now impacting the pace of sales, but the fundamentals suggest values will be insulated,” added Huskey. “In fact, home prices have historically outpaced the rate of inflation.”
And while new construction is adding to the inventory, it’s not at a rate that will triple the inventory anytime soon.
The overall median closed price increased 40.3 percent in May to $608,000 from $433,500 in May 2021. Jones responded, “Median closed price increases today are somewhat misleading. If we look at closed sales by price range, the $300,000 and below market is down 56 percent. That’s because we have few homes in inventory within this price category anymore. Therefore, a huge drop in the number of sales in the lower price categories means the calculation used to determine today’s median closed price reflects sales in those price categories where there is more inventory.”
“Since January, we’ve seen a 21.9 percent increase in the number of homes sold in the $500,000 to $1 million price category,” added Coffey.
The NABOR® May 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:
“First-time homebuyers may be hesitant to jump into the market today because of rising interest rates,” said Fioretti. “But it’s important to point out that rates are expected to go up again before the end of the year. Locking in today at six percent on a 30-year fixed mortgage should not be seen as a 30-year commitment as refinancing is always an option if or when rates decrease in the future.”
Wes Kunkle added that, “There’s a whole generation of new home buyers that have never seen rates this high before. But historically, rates have rarely gone below six percent. Aside from locking in at a rate before it increases, another advantage of buying a home today is that these buyers will be able to take advantage of the mortgage interest deduction on their income taxes.”
Closed sales were down slightly in the high end of the market in May, but this might be due to buyer reluctance to move cash out of the stock market right now. Notwithstanding, cash sales commanded 63.3 percent of closed sales in May, though brokers reviewing the report contend they are seeing more opportunities for buyers choosing to finance their purchase.
Buying or selling a home in Naples is a big and fast-moving endeavor. That is why there has never been a more important time to work with a REALTOR® such as Barry Hoey and Kimberly Zuponcic PA, Hoey Team, 239RealEstateDeals.Com LLC who can help you write a good contract that protects you and gets the paperwork in order so your sale or purchase goes smoothly throughout the process.
Having an experienced REALTOR® (Such as Kimberly Zuponcic PA or Barry Hoey, Broker owner of 239RealEstateDeals.Com LLC) during today’s relatively low inventory environment is an essential partnership for buyers because experienced REALTORS® are poised to hear about a home before it goes up for sale, they know exactly when new homes hit the MLS in real time, and they can share this valuable information to home buyers. Further, REALTORS® work closely with many other agents, have alerts set up when new homes are listed or back on market, and know how to maneuver the process so a buyer can act fast when a new listing meets a client’s purchasing criteria.
The Hoey Team ☘ have secured a number of deals recently in both Lee County and in Collier County for Buyers; we help & serve both Sellers and Buyers in all of Southwest Florida; including the Islands. Reach out today, call or text 239-360-5527 for information.
If you are looking to buy or sell a home in Southwest Florida, contact Barry & Kim with the Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ who serve all of Southwest Florida including Fort Myers, North Fort Myers, Cape Coral, Matlacha; Sanibel, Captiva and all the Islands; Miromar Lakes; Estero; Bonita Springs; Marco Island; Goodland; Everglades City; Ave Maria; basically all of Collier and Lee Counties; based in Naples who have respected qualifications, track record, experience; skills; additional education; best available technology; knowledge and the most desirable credentials to help you including to correctly provide an accurate market comparison and efficiently negotiate a sale with impressive results. Please ask for or click here to check out our sales stats and testimonials to help show you this.
For homeowners / sellers considering to sell a home in Naples or any part of Southwest Florida; should you want to upsize, or downsize, contact Barry and Kimberly with the Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ who have the reputation, experience; work ethic, local market knowledge; and the best possible tools & systems to provide an accurate market comparison in todays market so you can determine the right asking price to achieve the best possible bottom line. Our vast array of marketing methods / tools and negotiation skills are second to none.
REALTORS Barry & Kim can also ensure your next purchase in the Naples / Southwest Florida market area is a success in an efficient, stress-free way. We facilitate deals for Sellers and Buyers; guiding the transaction all the way through close.
P.S. ~ If You'd like for us to create a regular Video Tour for ANY of the Properties on our website, just CLICK "Video Request Button"; from property details. We will get a custom video tour to you.
For all of Collier County; Lee County; Covering all of Southwest Florida and beyond with our Team; find out more at: www.239RealEstateDeals.Com or contact Barry or Kim via email at Barry@SWFLLuxury.Com or KimZuponcic@Gmail.com or, Call/Text the Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ (239)-360-5527; thanks.
Barry & Kim with the Hoey Team ☘ exp Realty
Barry Hoey, REALTOR®, CIPS, CLHMS, CRS, GRI, SRES
Full time Real Estate Broker Owner
Kimberly Zuponcic PA, REALTOR®, CRS
Full time Real Estate Sales Associate
"Your Real Estate Concierge"
Call/Text Hoey Team: (239)-360-5527
Certified Luxury Home Marketing Specialist™
CREA (Canadian Real Estate Association) Global Affiliate
Member of The Institute for Luxury Home Marketing®
Dubai International Property Consultant (DIPC)
Member of FIABCI-USA; the International Real Estate Federation
Overseas member of the Institute of Professional Auctioneers and Valuers (IPAV) MIPAV (OS) MMCEPI
Member of the European Association of Real Estate Professions (CEPI)
Your Real Estate Resource in Southwest Florida and beyond
New Construction Community Negotiator
"Practicing Professional Standards of Excellence" 🍀
"Your Real Estate Concierge" If you are looking for a REALTOR® or one-stop Real Estate Team who will fully communicate; promptly, professionally, and in detail with you, to efficiently help you wit....
Latest Blog Posts
Florida Realtors: Florida’s single-family median price up 21.8% to $420K. Condo median price up 28.8% to $322K. Rising interest rates slow sales but new listings up.ORLANDO,
If rising costs didn’t deter hopeful home buyers, rising mortgage rates might. Realtor survey estimate: About 50% of buyers paused plans at least temporarily.NEW YORK – The Federal
Borrowing costs have climbed to their highest level since 2008, sending shock waves through the housing market.Mortgage rates have climbed to their highest level since 2008, pinching home buyers