The Naples real estate market continued full steam ahead during the month of July. Pending Sales increased 57.3% when compared to July 2019. The demand for homes, especially single family homes, has surged due to buyers seeking to leave the colder more densely populated areas of the county for the wonderful, low density, coastal lifestyle found in Naples.
While showings were down in July 2020 as compared to June 2020, Pending Sales increased, which indicates properties were being ‘virtually’ marketed and offers being made ‘sight unseen’. The online ability to experience the home and community allows buyers to feel comfortable in making such a life changing decision. Buyers are seeking single family homes that offer outdoor and indoor living, enough space to work from home, while allowing enough room to potentially ‘zoom school’ their children.
Inventory overall decreased 28.8% to 4,390 homes when compared to 6,168 homes in July 2019. That number of listings rose at a 21.7% increase, showcasing that Sellers were quick to list their home when realizing the Buyer market was strong.
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!