Naples closed out the 2018 market with impressive statistics in all areas of the market. An 11% increase in total closed sales and a 14% increase in inventory compared to 2017.
Prices held steady in 2018 with only a 3% increase in the median closed price. Homes over $1million drove the market in 2018, especially condominium homes. The condo homes closed sales saw an increase of 37%.
According to Naples Area Board of Realtors® (NABOR®) states inventory at the end of 2018 was the highest on record for six years.
Brenda F. a local broker in the Florida market states the following Trends for both Buyers and Sellers for 2019:
Positive Trends for Sellers:
- Colder winters up North are brining more visitors to the Naples area
- Naples area homes are selling faster
- Buyers interest in the Naples market is on the rise as a result of aggressive builder advertising in Northern Markets
- More comparable home prices are available with the increase in inventory
Positive Trends for Buyers:
- Inventory is increasing which translates to more options for home buyers
- There are as many condos for sale as there are single family homes which expands overall opportunities for buyers
- The stability of the overall median closed priced builds buyer confidence in the market
- Mortgage interest rates are currently low
Contact HOUSEofNaples.com at 239-784-7844 to receive an in depth analysis of your home. We look forward to working with you!