Despite a short stall from Covid, the “Naples home demand” launched a trajectory that has surpassed all expectations of what has already been deemed as a top destination in Florida. The surge of homebuyers are acquiring homes of all types and some are buying “sight unseen.” The race for homes resemble a real-life version of the historic “Pac-Man” video game.
Living here is a “lifestyle” not just a home whereby you never meet your neighbors: it is a unique social atmosphere found in many gated communities.
This area has been designated a top rated location to raise a family with over 40 schools of all types rated (Collier county is #5 in 67 counties in Florida), 10 pristine beaches, low property tax and home insurance rates, the “happiest” place to live, the “best bang “ for the social security buck, and many other ratings. Other factors that attract buyers is the low density of housing overall and a vast assortment of coastal properties.
According to the June 2020 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), pending sales (homes under contract) increased 61.3 % compared to June 2019, with single-family homes being the home choice for a majority of buyers.: a whopping increase of 83.9 %! Broker analysts reviewing the report also noted that new listings during June increased 25.8 % compared to June 2019, which indicates growing consumer confidence for both sellers and buyers leading into the summer Naples real estate market.
Inventory decreased 27.6 % to 4,739 homes in June from 6,547 homes in June 2019. Most of this depletion was reported in the single-family home market, which decreased 34.5 %, while the condominium market had a decrease in inventory of 20.3 %. The report also showed the largest drop in inventory occurred in the $300,000 to $500,000 single family home market, which decreased 47.7 % in June compared to June 2019. Single family home sales increased 2.9 % despite the Covid and stock market influence, perhaps due to a desire for a larger living space for working and sheltering in place.
The market data indicates that now is a good time to sell, as the number of showings and pending sales are increasing, and prices are also rising! If you are looking to buy or sell a home in Naples, call me today! I am a seasoned expert who is here to assist you to reach your goal of owning that dream home.
Go to : www.maryhoresco.com for a FREE home search and more info on livoing in Southwest Florida Call me @239-293-9434