September 2021 Naples Market Report
New Listings Absorbed by Buyer Demand!
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.
Unfortunately, the numbers can’t tell us the full story. Demand is strong, but at the current inventory level, it’s hard to sustain the level of sales we have done in previous years.
We are seeing more and more development companies from around the country putting their money on Naples. Naples still represents a great value compared to other desirable locations around the country and investing at today’s prices shows they think Naples will only become even more desirable in the future.
The NABOR®September 2021 Market Reportprovide 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!
Having a REALTOR® during today’s low inventory environment is an essential partnership for buyers because REALTORS® are poised to hear about a home before it goes up for sale, they know exactly when new homes hit the MLS in real time, and they can share this valuable information to home buyers. Further, REALTORS® work closely with many other agents, have alerts set up when new homes are listed, and know how to maneuver the process so a buyer can act fast when a new listing meets a client’s purchasing criteria.
If you are looking to sell a house in Naples, contact me for your personalized home evaluation. My abilities stretch way beyond just listing the house. I provide a concergie 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!
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