We’ll be discussing the latest Naples real estate market trends & statistics to find out how they can affect the investors and homebuyers in the next six to twelve months. The Naples real estate market has been extremely resilient to the impact of the coronavirus pandemic. Buyers have less negotiating power because inventory in the Naples area continues to decline. It experienced a heightened homebuying interest in July, which resulted in a 57.3 percent increase in pending sales for the month. Total sales (closed) during July increased 35.4 percent year over year.
That's up 42% compared to the month before, according to NABOR®. A decreasing supply of inventory is making it difficult to keep up with strong pent up demand from buyers. Data by Realtor.com also corroborates that in July 2020, the Naples housing market was a seller’s market, which means there were roughly more buyers than there were active homes for sale. The sellers in Naples have managed to hold good leverage in price negotiations.
On average, they could sell homes for 96.25% of the listing price–just 3.75% below asking price. A seller would always prefer scenarios that can yield a ratio of 100% or higher while a buyer would prefer a sale to asking price ratio that’s closer to 90%. The median list price of homes in Naples, FL was $382.5K, trending up 5.7% year-over-year while the median sale price was $359K. More insights into the Naples housing market from NABOR 2020 Market Reports are given below.
