Sellers are Taking Advantage of Home Values Hitting Record Highs
Naples, Fla.– More sellers are motivated to enter the market as home values continue to rise
because of limited inventory and high demand in the Naples area. According to the February 2022 Market
Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales
within Collier County (excluding Marco Island), the overall median closed price in February was $550,000, a
37.5 percent increase over the median closed price in February 2021. The high demand for homes is
demonstrated by the number of showings in February, which was 43,032. When divided by the number of
homes in inventory during February (1,176), this translates to 36 showings per home. For perspective, in 2019
there were 2.9 showings per home. The data also shows that homes sold fast in February, within 23 days on the
market, and the percent of list price received was 100.6 percent, which pleased many sellers.
To take advantage of this occurrence, Jones suggests buyers use a very important tool in real estate: the back-up
offer contract. A back-up offer can be placed on any property when that property is already under contract with
another buyer. But in today’s market, there is a higher likelihood that the first offer may not stick so a back-up
offer is a smart tool for buyers right now.
The median closed price in February increased 37.5 percent to $550,000 from $400,000 in February 2021.
Closed sales in February during the years leading up to the pandemic (2017-2019) averaged in the low 600s, but
demand for the Naples lifestyle and the amenities living in paradise offer have driven buyers to the paradise
coast in record numbers in recent years. It is only due to a lack of inventory that home sales in Naples did not
fare as well as last February. While overall closed sales decreased 39.5 percent to 804 in February from 1,330 in
February 2022.
The NABOR® February 2022 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:
There are several other key performance areas within the February report, month/month, that are worthy of
mention:
• 1,261 – The number of new listings added to the existing inventory
• 69.7% – The percentage increase in median closed price for properties located in 34113
- $1,161,203 – The average closed price for single family homes (+5.3%)
• 5% – The percentage increase in overall closed sales in Central Naples (34104, 34105, 34116)
• 4 – The number of months in a row that condominiums have sold for over 100% of list price
• 46% – The percentage decrease in median closed price for single-family homes in the Naples Beach
area (34102, 34103, 34108)
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