Naples Florida Year End Real Estate Review
The Naples area year end statistics for residential real estate were impressive. Overall, there was an 11 percent increase in total closed sales and a 14 percent increase in inventory compared to 2017. The Luxury Home market (sales over $1 million) continued to be the highlight of the year with an astounding 37 percent increase!
Year End Real Estate Review - 2018 versus 2017
Year End Real Estate Highlights
- Median closed price increased to $339,000 which was a 3 percent increase over 2017
- Overall inventory rose 14 percent up to 6,261 compared to the previous year
- Days on market fell to 95 days which represented a 9 percent decrease
- Single Family closed sales rose 10 percent year over year
- Condo closed sales were 12 percent higher in 2018 than 2017
The Naples Beach area (34102, 34103 and 34108) reported the highest increase in the median closed price for single-family homes which was up 14 percent in 2018 compared to 2017. However, there were a few ultra-luxury homes sold in Port Royal including one for $48.8 million which significantly impacted the median price for the year. There were 662 Naples beach area single family homes sold in 2018 with a median price of $1,268,000 which was up 2 percent compared to 2017 when 652 homes sold with a median closed price of $1,117,000.
Overall 2018 Year End (single-family and condominium) findings:
Naples Florida Home Buyer Trends
- Inventory is increasing which means there will be more options for home buyers in 2019
- There are as many condos for sale as there are single family homes which expands overall opportunities for home buyers
- The stability of the overall median closed price builds buyer confidence in the market
- Mortgage interest rates are currently low, below 5 percent, spurring home buying decisions
- Location, location, location continues to offer appeal!
Naples Florida Home Seller Trends
- Colder winters up north are bringing more visitors to the Naples area
- Naples area homes are selling faster than the previous year
- Buyers interest in the Naples market is on the rise as northerners are relocating to the area in record numbers
- More comparable home prices are available with the increase in inventory
- Location, location, location continues to appeal to home buyers
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Begin Your Own Property Search:
So, are you ready to begin your search for your Southwest Florida Luxury dream home or condo? We encourage you to explore our website to find information about communities in the area. If golf is your game, we specialize in golf community real estate and would be happy to help you navigate more than 100 different golf communities in our area. If you prefer a more direct approach, we will provide a list of properties that meet your criteria and/or communities that meet your needs. Now is a great time to start your property search with all the new inventory.
Also, if you are considering new construction, remember the contractor’s real estate agent represents the builder’s best interest, not yours. There is no cost for you to have an agent represent you. In fact, we may be able to help you save money and negotiate for extras which the builder may not let you know about.
Lastly, we will handle all contract negotiations for your property from offer to close!
Considering Selling Your Home?
If you are looking to sell a home in Bonita Springs, Estero or Naples, we encourage you to work with a real estate professional or consultant who has the experience and knowledge to provide an accurate market comparison so you can determine the right asking price. If you live in a golf community in southwest Florida, you are competing with more than 100 other golf communities. Contact us today to learn how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price.
Bottom Line:
If you’re looking for a focused and goal-oriented Realtor in southwest Florida who will help you achieve your Real Estate needs, please reach out to me directly. Additionally, if you are looking for a golf community expert or you are considering buying or selling a home, a luxury home, luxury vacation home, luxury golf home or dream home, call me or text me on my mobile phone at 239-370-0892 or email me at Matt@NaplesGolfGuy.com
Contact Matt: Matt@NaplesGolfGuy.com
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