As Florida entered Phase-2 of the Covid-19 pandemic regulations, pent up demand for home purchases reflected in an increase in showings of 244%.
Prices held stable in spite of the Covid-19 impact. The year to date median closed price increase by 2.3%. Inventory decreased 27.2% as compared to May 2019 however there was a 6.5% increase in condominiums coming to the market.
According to the Naples Area Board of Realtors (NABOR) heightened buyer demand is evidenced in the number of Days on Market for May, with a decrease of 15% when compared with May 2019. That’s 91 days compared to 107 days.
Spencer E Haynes, broker of a local real estate company states “even if a second surge of coronavirus cases emerge that force a re-introduction of restriction, Realtors® and the public have become adept at using technology like virtual showings and electronic closings, which help overcome the challenges that might affect home sales activity in Naples.”
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!