Pending home sales in the Naples area jumped 88.6% to 1,535 Pending Sales from 814 in December 2019. There was a 65% increase in showings during December which averaged out to 10 showings per listing. Inventory is still very low, not meeting Buyer demand. Available homes decreased 49.1% to 3,140 homes as compared to 6,163 homes in December 2019.
Stated a local VP of a realty company “As a direct result of the effects of the pandemic, 2020 was one of the first years in history where we saw more buying activity in the second half of the year than during the first half of the year”. Another added “Historic election-year hesitancy regarding changes in administrations has not been reflected by top business leaders or the equity markets and certainly didn’t dissuade home buying decisions in Naples during December. In fact, in the high end market, Closed Sales for homes priced over $2million increased an astounding 62.4% from 2019.
The inventory was very tight, to a very low 3.1 months of inventory. Local professionals are not concerned that the market resembles the 2004/005 market since there are no signs of a decline in the market. Analysts predict continued heightened Buyer interest in our market, especially in the high end market, through the first quarter of 2021.
Contact HOUSEofNaples.com at 239-784-7844 to discuss the Naples real estate market or to receive an in depth analysis of your home. We look forward to working with you!