November 2020 โ˜˜ Just Released Market Report for Naples and for all of Southwest Florida โ˜˜ Hoey Team โ˜˜ exp Realty ๐ŸŒด SW FL ๐ŸŒด

Dated: November 20 2020

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Hello,

First of all Kim and I hope that you and yours are doing good.

Hot off the press please find info from the just released November 2020 Market Report combined with data from our Collier County based; Southwest Florida Board of Realtors; NABOR with this as part of the report: " Buyers are motivated to seek larger, more comfortable homes that accommodate their work-from-home lifestyles.”

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 amidst our current happenings; we can provide Detailed Reports & Data for any part; Locally and Nationally in conjunction with our extended team; just let us know.)

Utilizing our Team Cutting Edge Technologies; including the best available Virtual Tools and other system we are continuing to efficiently help sellers & buyers.  We have sold many homes since this pandemic started.  And we continue to preview, show, and negotiate deals on a daily basis.

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

 

Interesting Statistics for September 2020 versus September 2019:

·        Overall inventory down 34%. 

·        Overall Pending Sales up 73%

·        Median closed sale price up 17%.

·        Overall Closed Sales up 65%

·        Single family home sales up 49%

·        Condo home sales up 70%

·        Days on market down 12%

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

 

Naples Area Real Estate Market Sees Another Record Month in Closings

 

Naples, Fla. (November 20, 2020) - According to the October 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 strong demand in both the single family and condominium markets.  Buyers are getting a jump on the winter seasonal market as shown by the reduced inventory, increase in multiple bids and the jump in closed sales.  Closed sales activity for the overall market increased 65.2 percent to 1,249 closed sales in October 2020 from 756 closed sales in October 2019.

Naples Market Report - November 2020 infographic October 2020 v October 2019 - Hoey Team eXp Realty.jpg

Inventory continues to be a challenge for buyers seeking to purchase a home in Naples.  While the overall market inventory in October 2020 decreased 33.8 percent to 3,543 from 5,351 in October 2019, overall pending sales for the same time period increased 73.0 percent to 1,708 from 987 in October 2019.  With strong demand, sellers are receiving multiple competitive offers on their listings during what is a traditionally slower time of year.  Offers are coming in more quickly as well, with homes sold during October 2020 staying on the market 11.5 percent fewer days than October 2019.  The average number of days on the market until sale was 92 in October 2020 compared to 104 days in October 2020.

 

"In a typical year, October would be a time when inventory numbers rise as sellers prepare for increased demand during season," said Mike Hughes. "However, the pandemic disrupted traditional seasonal patterns.  Buyers are motivated to seek larger, more comfortable homes that accommodate their work-from-home lifestyles."

 

During the period of January through October 2020, there were 9,785 closed sales in Naples, which represents a 13.8 percent increase over the same period in 2019.  With more active buyers on the market, housing prices are seeing moderate but sustainable growth.

 

"Home pricing will likely continue to rise", said Dominic Pallini.  "Today's buyer is willing to pay more for the comfort and quality of life that Naples offers.  "Additionally, we are seeing new construction come online in the local market, which is supporting the increased demand."

 

The October Market Report showed that single-family homes saw an increase in the median closed sales price of 12.1 percent to $458,000 during January to October 2020, up from $408,500 during the same period in 2019.  Condominium median closed sales prices also saw an uptick of 5.8 percent to $275,000 during January to October 2020, over $260,000 during the same period in 2019.

 

Brenda Fioretti notes that 30.6 percent of homes on the market experienced a price increase during October. "Sellers are receiving multiple, competitive bids on their listings.  So, it is important for buyers to make a serious offer when they find the right home."

 

The NABOR® October 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:

 

CATEGORIES

Oct 2019

Oct 2020

CHANGE

Total closed sales (month/month)

756

1,249

+65.2%

Total pending sales (homes under contract) (month/month)

987

1,708

+73.0%

Median closed price (month/month)

$329,950

$385,000

+16.7%

Total active listings (inventory)

5,351

3,543

-33.8%

Average days on market 

104

92

-11.5%

Single-family closed sales (month/month)

389

580

+49.1%

Single-family median closed price (month/month)

$395,000

$523,000

+32.4%

Single-family inventory

2,675

1,501

-43.9%

Condominium closed sales (month/month)

367

624

+70.0%

Condominium median closed price (month/month)

$255,000

$284,500

+11.6%

Condominium inventory

2,676

2,042

-23.7%

 

"Despite the uncertainty that the coronavirus pandemic has brought to the country, there are many positive trends such as low-interest rates that have continued to support the Naples real estate market and the overall economy," said Bill Coffey. "With buyers becoming less seasonal, the market has remained stable."

 

The October 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 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 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 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

 

Buying-Selling-Leasing-Relocation-International-Collaboration

 

"Your Real Estate Concierge"

 

Barry@SWFLLuxury.Com

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