Naples Market Report March & April 2019 by Robert Woessner

Tuesday, May 28, 2019   /   by Robert Woessner

Naples Market Report March & April 2019 by Robert Woessner

Real Estate Market Update from March & April 2019

Feb 2019 Market pic.png

The report showed overall sales were up 17 percent in April over March, and March's sales were higher than February.
 
April's Market Report and showing activity provided by ShowingTime, a REALTOR® resource that tracks agent listing appointments with potential buyers, it took an average of 15 showings for a property to secure a contract in April.
 
The uptick in showings during the last few months are a positive indicator of continued buyer interest in our area. And while April's overall median closed price decreased 5.6 percent to $340,000 in April 2019 from $360,000 in April 2018, April 2019's median closed price was higher than both January and February's median closed prices.
 
The Report also showed nearly 1,000 properties went from active to either terminated, expired, or withdrawn in the Southwest Florida MLS during April, which directly impacted April's ending inventory level as seen in an 11.1 percent decrease to 6,435 properties in April 2019 from 7,239 properties in April 2018. But April saw the number of new condominium listings increase by 9.2 percent; whereas there was a decrease of 3.2 percent for new listings in the single-family homes market.
 
Despite old-fashioned beliefs that our area is predominately seasonal, the last few years of home sales activity after Easter are proof that this is just not the case anymore.
 
April and May have always been our strongest months for closings historically. But unlike last year, April's Report this year shows signs of a possible new trend: more closed sales for homes on the lower end of the price spectrum versus last year which had more closed sales in higher price points.
 
The Report shows closed sales of single-family homes in April 2019 increased 4.4 percent, but closed sales of condominiums increased 20.1 percent in April 2019 compared to April 2018 market statistics. Further, the trend toward more sales of lower priced properties. Also the activity tracked over the last 12 months where there was a 4.3 percent increase or 2,727 closed sales of condominiums in the under $300,000 price category compared to a .8 percent decrease in this same price category for single-family homes (1,037 closed sales). The increase in condominium inventory is also a contributing factor to this new trend.
 
The NABOR® April 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: 

CATEGORIES
APR 2018 APR 2019 CHANGE
Total closed sales (month/month) 1,027 1,158 +12.8%
Median closed price (month/month) $360,000 $340,000 -5.6%
Total active listings (inventory) 7,239 6,435 -11.1%
Average days on market  94 98 +4.3%
Single-family closed sales (month/month) 481 502 +4.4%
Single-family median closed price (month/month) $445,000 $469,000 +5.4%
Single-family inventory 3,554 3,228 -9.2%
Condominium closed sales (month/month) 546 656 +20.1%
Condominium median closed price (month/month) $269,750 $272,250 +.9%
Condominium inventory 3,685 3,207 -13%
 
Geographically, closed sales skyrocketed in April for the Naples Beach area (34102, 34103, 34108), which had a 44.6 percent increase in closed sales for its single-family homes market and a 12.5 percent increase in closed sales for its condominium market. Also remarkable, the Central Naples area (34104, 34105, 34116) had a 22 percent increase in closed sales of condominiums while the East Naples area had a 36.4 percent increase in condominium sales and the South Naples area (34112, 34113) topped them all with an impressive 49 percent increase in closed sales of condominiums during April.

Here is a link to the current real estate market conditions for Naples by Zip Code:
34102
34103
34104
34105
34108
34109
34110
34112
34113
34114
34116
34117
34119
34120

How does this effect you?


If you are considering selling your home and buying something smaller or maybe something bigger, now maybe one of the best times to capitalize on great interest rates. Here is a link for an updated home value report: Home Valuation Report

If you are looking to buy should you wait? That's a great question. Will home values continue to go up 10% year over year? I don't think so. Will there be a huge drop like 2009, 2010 etc? I don't see that either. What I do see are interest rates low now that continue to go up that make it more and more difficult to buy the longer you wait.

Here is a list of all the homes currently for sale in Naples: Naples Homes for Sale

If you are looking to buy or sell a home in Naples, Contact me Today.
Robert Woessner, 239-330-4589, Robert.Woessner@KW.com
United Home Group - Keller Williams
879 Vanderbilt Beach Rd
Naples, FL 34108
KW Marco Island
830 Bald Eagle Dr.
Marco Island FL 34145

Keller Williams Peace River Partners
1675 West Marion Ave, Suite 112
Punta Gorda, FL 33950

The source of this real property information is the copyrighted and proprietary database compilation of the Southwest Florida MLS organizations Copyright 2022. Southwest Florida MLS organizations. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification.
2022 Royal Palm Coast REALTORĀ® Association. All rights reserved. Information has not been verified, is not guaranteed, and is subject to change. The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) of the Florida Gulf Coast Multiple Listing Service, Inc. Real estate listings held by brokerage firms other than IDX logo and detailed information about them includes the name of the listing brokers. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Last Updated: 9/27/2022 9:47 PM CST
The data relating to real estate for sale on this limited electronic display comes in part from the Southwest Florida Multiple Listing Services. Properties listed with brokerage firms other than are marked with the BR Program Icon or the BR House Icon and detailed information about them includes the name of the Listing Brokers. The properties displayed may not be all the properties available through the BR Program. The source of this real property information is the copyrighted and proprietary database compilation of the participating Southwest Florida MLS organizations and is Copyright 2017 Southwest Florida MLS organizations. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. Some properties that appear for sale on this limited electronic display may no longer be available. For the most current information, contact Data last updated 9/27/2022 9:47 PM CST.
The source of this real property information is the copyrighted and proprietary database compilation of the Southwest Florida MLS organizations Copyright 2022. Southwest Florida MLS organizations. All rights reserved. The accuracy of this information is not warranted or guaranteed. This information should be independently verified if any person intends to engage in a transaction in reliance upon it. The property information herein is derived from various sources that may include, but not be limited to, county records and the Multiple Listing Service and it may include approximations. Although the information is believed to be accurate, it is not warranted and you should not rely upon it without personal verification.
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