September Market Report: New Listings Absorbed by Buyer Demand
Naples Home sales in September would have been stronger if there was more inventory, say broker analysts reviewing the September 2021 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). Historically, September is the slowest month for home sales in Naples, but the area’s reputable natural
beauty and home-value potential continue to increase its desirability to home buyers. Closed sales in September decreased 18.9 percent to 914 closed sales from 1,127 closed sales in September 2020, a result of low inventory.
A decrease of 213 homes sales might seem like home buying interest is waning but consider the inventory factor. In September 2020, there were 5,287 properties available. While in September 2021, the month ended with just 1,251 properties for sale (a 76.3 percent decrease). Comparing showing activity also sheds light on the situation. There were roughly 23 showings per home during September compared to under seven showings per home in September 2020. Basically, more buyers are looking at fewer properties this year
The NABOR® September 2021 Market Report 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:
Since January, there has been a 48 percent increase in closed sales over the same nine months in 2020. Inventory of homes is suffering from the same supply chain issues as other commodities made in America, all due to the pandemic. But opportunities to invest in Naples real estate are still out there.
Not surprisingly, the median closed price in September increased 18.9 percent to $455,000 from $382,744 in September 2020. As competition for inventory gets even more fierce and days on market continue to drop, we’ll likely see an increase in the number of homes that don’t even appear on the MLS until they are sold.
The Market Report showed new listings in September decreased 28.4 percent to 961 from 1,342 new listings in September 2020. However, while new listings of condominiums decreased 2.7 percent during the first nine months of 2021, new listings of single-family homes increased 3.5 percent during the first nine months of 2021!
If you are considering selling or buying a home in the Naples market, call me today 239-261-1186.
David R. Bartley, Sr.
Bartley Realty LLLP
Broker/General Partner