Loan limits will likely go up to $625K in 2022, but FHFA hasn’t announced it yet. Still, higher home values have convinced some lenders to boost loan limits now.WASHINGTON –
🎄 December 2020 ☘ Just Released Market Report for Naples and for all of Southwest Florida ☘ Hoey Team ☘ exp Realty 🌴 SW FL 🌴
Dated: December 18 2020
First of all Kim and I hope that you and yours are doing good; and ready to celebrate Christmas / Hanukkah this Holiday Season.
Hot off the press please find info from the just released December 2020 Market Report combined with data from our Collier County based; Southwest Florida Board of Realtors; NABOR with this as part of the report: " In addition to buyers coming from out of state, local homeowners are taking advantage of low interest rates and upgrading to more spacious homes and condominiums within their existing communities” This is something that the Hoey Team ☘ are experiencing daily.
In addition, please do 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; we can provide Detailed Reports & Data for any part; Locally and Nationally in conjunction with our extended team; just let us know.)
Utilizing our Hoey Team ☘ Cutting Edge Technologies; including the best available Virtual Tools and other system we are continuing to Efficiently Help sellers & buyers. We continue to preview, show, negotiate deals & Sell Homes; helping people to move / relocate across the US on a daily basis.
Interesting Statistics for November 2020 versus November 2019:
· Overall inventory down 43%.
· Overall Pending Sales up 44%
· Median closed sale price up 16%.
· Overall Closed Sales up 59%
· Single family home sales up 53%
· Condo home sales up 65%
· Days on market down 14%
Sellers, Buyers and REALTORS need be fully informed to help you make the best possible decisions.
Upward Trend in Naples Real Estate Market Continues
Naples, FL (December 18, 2020) – According to the November 2020 Market Report, released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), the Naples real estate market continues to see an upward trend in both showings and closed sales. In November 2020, there were 36,508 showings, which represents a 43 percent increase over the same period in 2019. Closed sales for the overall market increased 58.8 percent to 1,126 closed sales in November 2020, up from 709 closed sales in November 2019.
The sustained market demand is placing pressure on real estate pricing, with notable increases in median and average closed prices of homes when comparing month over month statistics. At $669,409, the year-to-date average closed sales price in November 2020 reflects a more accurate and modest growth with a 12.7 percent increase over November 2019 year-to-date average closed sales price of $594,065.
It is important to understand the difference between the “average” price of a home and the “median” price of a home. The “average” price is calculated by adding all the closed prices for homes sold in a specific area within a specified time frame and dividing that total by the number of properties sold. The “median” price is the price in the middle of a data set where exactly half the houses are priced for less and half are priced for more. Note: the average price may be skewed due to outliers in the data (if a property sold for a price far higher or lower than typical).
Broker analysts agree there are multiple driving forces influencing buyers. In addition to buyers coming from out of state, local homeowners are taking advantage of low interest rates and upgrading to more spacious homes and condominiums within their existing communities. Homes priced over $2,000,000 saw the strongest increase in sales, with a 51.6 percent increase in November 2020 over the same time period in 2019.
“Mortgage rates have once again dropped to a record low, with a fixed-rate average of 2.67 percent. Even though housing prices are going up and buyers are upgrading to more expensive homes, mortgage payments are going down,” said Jeff Jones.
Collier County continues to be among the most desirable locations in the state. “Regardless of the availability of the COVID-19 vaccine, employees are being encouraged to work remotely. This allows them to upgrade their quality of life and they are clearly choosing to live, work and play in Naples,” said Molly Lane.
Mike Hughes agreed. “Although the area’s traditional seasonal patterns have been disrupted, winter residents are continuing to arrive in the Naples area market. This is a strong indication of consumer confidence in Southwest Florida.”
“With the many uncertainties in the market, the Naples Area Board of Realtors remains a steady resource for our REALTORS®, providing access to the latest market data, industry education, legal forms, and professional guidelines,” said Corey McCloskey.
The NABOR® November 2020 Market Reports provide 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:
“Naples’ high quality of life, favorable business policies, and strong local government have always been appealing to home buyers. But we are in unprecedented times with housing demand outpacing supply,” said Dominic Pallini, “First time home buyers should evaluate their options as the market grows.”
The November report continues to show that sellers are at an advantage with decreasing inventory and rising prices.
If you are looking to buy or sell a home in Southwest Florida, contact Barry & Kim with the Hoey Team ☘ exp who serve all of Southwest Florida including Fort Myers, North Fort Myers, Cape Coral, Matlacha; Sanibel, Captiva and the Islands; Estero; Bonita Springs; Marco Island; 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 verify this.
For home owners / 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 ☘ brokered by eXp Realty who have the reputation, experience; work ethic, local market knowledge; and the best possible tools & systems to provide an accurate market comparison 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.
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 can visit the property and record you a video, or, if you want, we can do a one on one Facebook Live Showing.
For all of Collier County; Lee County; Covering all of Southwest Florida and beyond with our growing team; find out more at: www.HoeyTeam.Net or contact Barry or Kim via email at Barry@SWFLLuxury.Com or KimZuponcic@Gmail.com or, Call/Text the Hoey Team ☘ : (239)-360-5527
Barry & Kim with the Hoey Team ☘ exp Realty
Barry Hoey PA, REALTOR®, CIPS, CLHMS, CRS, GRI, SRES
Full time Real Estate Broker Associate
Kimberly Zuponcic PA, REALTOR®, CRS
Full time Real Estate Sales Associate
"Your Real Estate Concierge"
Call/Text Hoey Team: (239)-360-5527
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CREA (Canadian Real Estate Association) Global Affiliate
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Hello,Barry & Kim with the Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ hope that you and yours are doing good; wherever you are located at this time.Hot off the press