๐Ÿšจ February 2021 ๐Ÿ“ข Just Released Market Report for Naples and for all of Southwest Florida โ˜˜ Hoey Team โ˜˜ exp Realty ๐ŸŒด SW Fla ๐ŸŒด

Dated: February 24 2021

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Hello,

First of all Kim and I hope that you and yours are doing good; hope 2021 is being kind to you and yours.

Hot off the press please find info from the just released January 2021 Market Report combined with data from our Collier County based; Southwest Florida Board of Realtors; NABOR with this as part of the report: “We are beginning to see some ‘over-asking price’.”  This is something that the Hoey Team โ˜˜ are seeing also

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 โ˜˜ 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.  Southwest Florida seems to keep increasing in desirability for US buyers; both end users & investors.

Click Here and Below for a Link to Live Market Statistics for all of Southwest Florida.

 

Interesting Statistics for January 2021 versus January 2020:

·        Overall inventory down 60%. 

·        Overall Pending Sales up 39%

·        Median closed sale price up 15%.

·        Overall Closed Sales up 50%

·        Single family home sales up 35%

·        Condo home sales up 65%

·        Days on market down 27%

Sellers, Buyers and REALTORS need be fully informed to help you make the best possible decisions.

 

No Home Left Behind: Buyers Descend on Naples Housing Market in January

 

Naples, FL (February 24, 2021) – Buyers fleeing frigid weather descended on Naples in full force during January, which reported a 38.5 percent increase in overall pending sales (homes under contract) to 2,210 pending sales from 1,359 pending sales in January 2020, according to the January 2021 Market Report, released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island).  Not surprisingly, as a result of impressive activity during the fourth quarter of 2020, overall closed sales in January increased 49.7 percent to 1,109 closed sales from 741 closed sales in January 2020, leaving agents with 2.6 months of inventory at the end of the first month of the new year.

Naples Market Report - February 2021 infographic January 2021 v January 2020 - Hoey Team exp Realty

“Buyer demand is remarkably high,” said Molly Lane, “We are beginning to see some ‘over-asking price’ offers.”

 

Jeff Jones agreed with Lane and responded that “there were also more price increases in January than decreases. Jones continued, “REALTORS® are trained to counsel sellers on setting realistic home prices; but because inventory is so limited right now, asking prices for many homes in Naples during January were higher than appraised values.”

 

According to the report, showings in Naples increased 36 percent to 57,468 in January from 42,299 in January 2020. This was the highest number of showings recorded in one month over the past 12 months.

 

Overall inventory in January fell 59.7 percent to 2,750 homes from 6,828 homes in January 2020. The radical and continuous reduction in inventory is changing the dynamic of the transaction.  According to broker analysts, in addition to more multiple offer encounters, their agents are reporting an increase in the use of escalation clauses, which is a clause stating that the buyer will pay a certain amount of money above the highest offer the seller receives, as well as other unique buying tactics such as the buyer writing a personal letter to a seller expressing their deep interest in the home.

 

“I suspect we may soon see more homes listed with an offer window [a limited amount of time, typically a week, wherein the seller will give all potential buyers a window in which to submit offers prior to a response],” said Budge Huskey.

 

The median closed price in January increased 14.7 percent to $395,000 from $344,500 in January 2020. And while this is $10,000 lower than the median closed price reported in December, broker analysts reviewing the January report feel the market’s inability to keep up with demand and the 65.1 percent increase in closed sales for homes above $2 million in January will have a substantial impact on where prices go in the coming months.

 

The NABOR® January 2021 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 Market Report - February 2021 infographic Breakdown January 2021 v January 2020 - Hoey Team exp Realty

Spencer Haynes added that he is seeing an increase in revitalization efforts in older communities throughout Naples.  “There is great potential within our more established neighborhoods that have no land for new home builds.  Many of these older homes are ideal for a complete remodel or possibly a tear down and spec home.”

 

Huskey concurred and remarked that we are at a point where “homeowners in these older neighborhoods are starting to feel confident they can increase the value by renovating before they sell or selling to a teardown buyer.”

The January report continues to show that sellers are at an advantage with lower inventory and increasing prices. 

If you are looking to buy or sell a home in Southwest Florida, contact Barry & Kim with the Hoey Team โ˜˜ 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 โ˜˜ 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 will get a custom video tour to you.

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 โ˜˜ :  (239)-360-5527

 

Click Here to View Live Stats for the Overall Naples Market Area

Click Here to View Live Stats for All of the Southwest Florida Market Areas

Click Here to Instantly Find Your Estimated Home Value

Barry & Kim with the Hoey Team  โ˜˜ 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

 

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"Your Real Estate Concierge"

 

Barry@SWFLLuxury.Com

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