Nationally, cash buyers made up about 1/3 of all 2021 home sales so far, but that percentage rises to 52.6% in West Palm Beach, the top metro for cash sales in the U.S. The ratio was 52%
October 2019 ☘ Market Report for Naples and for all of Southwest Florida ☘ Hoey Team ☘ eXp Realty
Dated: October 25 2019
Hot off the press; please find the October 2019 Market Report from our Collier County / SW FL Board of Realtors; NABOR. Also check out the stats in the different Naples / Collier County Property Types & Price Ranges.
Some interesting Statistics for September 2019 versus September 2018:
· Overall inventory down 18%.
· Showings up 31%
· Pending Sales up 13%
· Median closed price remains steady.
· Single family home sales up 12%
· Condo home sales up 3%
· Days on market up 10%
REALTORS, Sellers, and Buyers need be fully informed to help make the best possible decisions.
Home Showings Lead to Increased Sales
Naples, Fla. (October 25, 2019) - The Naples area housing market enjoyed another 7 percent increase in overall closed home sales for the third month in a row. This trend leads broker analysts to suggest that the consistent uptick in summer home sales illustrates that Collier County is becoming less seasonal.
September 2019 compared to September 2018 above.
Year over year; 12 Months ending September 2019 compared to the 12 months ending September 2018 above
According to the September 2019 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), showings in September 2019 were up 31 percent over September 2018. This translated into a 13.7 percent increase in pending sales (written contracts) or 823 pending sales in September 2019 compared to 724 pending sales in September 2018. Strong showing activity during the summer resulted in 698 closed sales during September 2019.
"With an average of 17.4 showings per listing, agents stayed busy this summer," said Jeff Jones, which, according to Vellano, means "inventory was coming to the buyer." Jones noted that 28 percent of the available inventory experienced a price decrease in September.
Broker analysts warn consumers that this market behavior won't last long as they anticipate inventory to increase before the end of the year. "Decreases in inventory are customary this time of year," said Phil Wood. "And increases in inventory preceding winter season are customary too. But the low inventory is not because there was a deficit of buyers. This is apparent in the consistently high number of showings during the summer and better closed sales numbers compared to last year."
The September report showed median closed prices remained stable during the third quarter (July, August & September). In July, the median closed price was $326,400. By September, the median closed price had dropped slightly to $325,000, which is only a .7 percent decrease from September 2018, which reported a median closed price of $327,408. Interestingly, the median closed price in January 2019 was $325,000.
With over 500 listings pulled from the MLS in September, it is no surprise that overall inventory for the month fell. However, even though it decreased 17.8 percent to 4,989 homes compared to 6,070 homes in September 2018, inventory for September was higher than August by 72 homes.
The NABOR® September 2019 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:
Total closed sales (month/month)
Median closed price (month/month)
Total active listings (inventory)
Average days on market
Single-family closed sales (month/month)
Single-family median closed price (month/month)
Condominium closed sales (month/month)
Condominium median closed price (month/month)
As noted by brokers reviewing the housing data, September had a 6-month supply of inventory. "Inventory levels are always low in September," said Bill Coffey. "You're going to see those homes that were pulled off the MLS on the market again in the next few months. But it's too bad because buyers who don't have options in the resale market in Naples now are not waiting for more homes to come onto the market, but instead are buying resale homes in Lee County or even further north."
Geographically, condominiums in South Naples (34112, 34113) saw a 22.1 percent spike in its median closed prices to $213,000 in September 2019 from $174,500 in September 2018. Alternately, condominiums in North Naples saw a 16.4 percent decrease in median closed prices to $242,500 in September 2019 from $290,000 in September 2018.
If you are looking to sell a home in Naples or any part of Southwest Florida, contact Barry or Kimberly with the Hoey Team ☘ brokered by eXp Realty who have the experience; knowledge; and track record to provide an accurate market comparison so you can determine the right asking price. Also; our marketing methods / tools and negotiation skills are second to none. REALTORS Barry & Kim can also ensure your next purchase in the Naples area is a success. For all of Collier County; Southwest Florida and beyond; find out more at: www.BarryHoey.eXpRealty.Com or contact Barry or Kim via email at Barry@SWFLLuxury.Com or KimZuponcic@Gmail.com or, Call/Text the Hoey Team ☘ : (239)-360-5527
Please inquire or feel free to share this update with others.
Barry & Kim with the Hoey Team ☘ Brokered by eXp Realty
Barry Hoey PA, REALTOR®, CIPS, CRS, GRI
Full time Real Estate Broker Associate
Kimberly Zuponcic PA, Realtor
Full time Real Estate Sales Associate
"Your Real Estate Concierge"
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