January was a bang of a beginning for the real estate market in Naples with a 38.5% increase in overall Pending Sales at 2,210 up from 1,359 from the previous year. Closed Sales in the month increased 49.7% to 1,109 from 741 in January 2020, with only 2.6 months of real estate inventory available by month’s end.
Local Broker Jeff Jones states “there were also more price increases in January than decreases. Realtors are trained to counsel sellers on setting realistic home prices; but because inventory is so limited right now, asking prices for many homes were higher than appraised values”. In the words of Molly Lane, another local real estate expert “Buyer demand is remarkably high. We are beginning to see some ‘over asking price’ offers.
Showing increased 36% to 57,468 from 42,299 in January 2020, while overall inventory fell 59.7% to 2,750 homes from 6,828 homes the year before. This offers a great ‘revitalization’ opportunity for older communities in Naples. As Spencer Haynes states “There is great potential within our more established neighborhoods that have no land for new home builds. Many of these older homes are ideal for a complete remodel or possibly a tear down and spec home”.
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!