The Naples area market enjoyed a 7% increase in overall closed homes sales for the 3rd month in a row. This suggests that Collier County is becoming less of a seasonal destination for residents and second home buyers.
Showings in September 2019 were up 31% as compared to September 2018. This led to a 13.7% increase in contracts being written (pending sales). “There was an average of 17.4 showings per listing, agents stayed busy this summer, with 28% of the inventory experiencing a price decrease in September” according to Jeff Jones, broker at Keller Williams Naples.
Median closed prices remained stable during the 3rd quarter 2019, the median closed price in September 2019 was $325,000 with was just a .7% decrease from September 2018 when the median closed price was $327,480.
Overall inventory of available homes for the month of September 2019 fell, decreasing 17.8% to 7,989 homes as compared to 6,070 homes in September 2018. “Inventory levels are always low in September. You’re going to see those homes that were pulled off the MLS on the market again in the next few months” according to Bill Coffey, broker manager of Amerivest Realty Naples. The high numbers of showings demonstrate that there was a good supply of buyers looking for homes on the market, but the fact that sellers are waiting to list their homes until closer to “season” (traditionally January through March). Some speculate these current buyers are not waiting to see what comes onto the market in Naples, but are instead going to contract on homes in Lee County or even farther North.
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