The housing market inventory increased 7% in February 2019. 7,442 homes as compared to 6,912 in February 2018. A 4% decrease in the overall median closed price was recorded from 2018 to 2019. $335,000.00 in February 2019 as compared to $350,000.00 in February 2018.
Home buyers appear to be carefully evaluating their options as there were 100 fewer closed sales in 2019 versus 2018. As a local broker stated “The average days on market increased in February 2019, which tells me buyers are looking at more homes before they make an offer. Plus there is a lot more new construction this year than a year ago. Agents were rarely in the office in February because showings increased dramatically.”
Generally geographical location plays an important role in the speed of a home selling, the closer to the beach, the faster a listing would sell. This year the South Naples market had the lowest days on market in February. A lot can change from one area to the next, the high end market continues to do well in Naples.
Contact HOUSEofNaples.com at 239-784-7844 to learn about the Naples market or to receive an in depth analysis of your home. We look forward to working with you.