Market Update: Naples, Florida
September 2020 boasts a record breaking month for one of Florida’s most luxurious housing markets, explains Terri McAuley, Naples area real estate agent.
While September saw increased activity on many fronts due to the COVID-19 based shift in buying behavior earlier this year, the Naples real estate market displayed a 20-year high in activity almost completely across the board. While busy summer market activity continued into the fall, September experienced an 80% increase in showing appointments and closed 1,096 sales, increasing by 52.9%. In addition pending sales rose an astounding 83.4%.
Like many markets across the country, the demand for single family homes is increasing while available inventory is decreasing, creating a sellers market. For Naples the total of available listings has dropped 32.2%, down to 3,980. Looking specifically at homes over $2 million, closed sales increased over 30% year-over-year. Overall, the average median sales prices of all properties is up 18% A great start leading up to the remaining months of 2020 for the Naples Real Estate Market.
This Market Update is provided by: Terri McAuley, Berkshire Hathaway Home Services Florida Realty.