Market Report - June

June Real Estate Market Shows Signs of Balancing


Data reflecting activity in the Naples area housing market during June showed signs of a return to pre-pandemic summer activity when market conditions were balanced. According to the June 2022 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), pending sales decreased 36.8 percent in June to 794 pending sales from 1,236 pending sales in June 2021, and closed sales decreased 38.4 percent in June to 952 closed sales from 1,545 closed in June 2021. On the positive side, an 80.5 percent increase in inventory during June to 2,294 properties from 1,271 properties in June 2021 is expected to spark sales.

We have been experiencing a more traditional seasonal environment. Which has not been present since covid. The average days on the market is still low sitting at 18 days. During pre-pandemic years when things were more balanced, days on market for the Naples area was around 70 to 100 days, so we still have a way to go.

 

The June Market Report showed 1,169 new listings compared to 1,170 new listings in June 2021. Broker analysts reviewing the report predict sales activity will continue to mirror 2019 trends, which will naturally increase inventory levels and return us to a balanced market.

The NABOR® June 2022 Market Report provides 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 for 2022: 


Median closed prices in June increased 31.8 percent to $604,000 from $458,281 in June 2021, but median closed prices for single family homes in June decreased 7.7 percent to $750,000 from $812,500 in May. Conversely, median closed prices for condominiums in June increased 2.5 percent to $497,000 from $485,000 in May.

Despite the cooling of sales in June, cash sales during the month commanded 60.3 percent of all closed sales compared to 63.3 percent in May.

If you are looking to buy a home, income producing property or sell a house in Naples, contact me. My abilities stretch way beyond just listing the house. I provide a concierge approach to selling your house starting with an accurate market comparison, creating your listing with exceptional marketing tools, managing all showings, negotiate offers, contingencies plus so much more!
Want to get this information sent to you directly monthly? Sign up for our newsletter and get access to up to date information here.
Your Friend & Realtor,
Felicia







*Source NABOR.com & Freddie Mac

0 views0 comments