The Naples market continues to be strong with an increase of 29% to 789 Closed Sales as compared to February 2019. Though this month began with the recommendations to practice self distancing, the housing market continues to show the desirability of a home in Naples, FL.
Many Realtors® are working from home and using ‘virtual’ scenarios to market and to show Active home. Overall Pending Sales for the month increased 43% to 1,526 as compared to February 2019.
Properties priced between $1million and $2million reported the highest increase in closed sales at 21%, with single family homes showing the highest increase among all properties. Condominiums priced over $2million reported a 20% increase. These increase, according to Naples Area Board of Realtors (NABOR), are in line with what broker analysts predicted in January that many buyers are rebalancing their portfolios and pulling money out of the stock market to buy homes.
According to Budge Huskey, president of a local branch of a national real estate chain “These figures reflect the market in advance of the coronavirus impact, which will no doubt be evident in March.”
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!