November Housing Market report shows activity heating up
Home sales in November increased by double digits in every price category resulting in an overall increase of 24% compared to November 2017. Median closed prices decreased for homes under $1 million in November and inventory rose 12% to 5971 homes.
The November report shows greater balance in the market which stimulates confident activity. The 24% increase in November sales is a continuation of how well the Naples market recovered from the hurricane last year.
Inventory level is more robust than in several years
The under $300,000 single-family home market had the most impressive activity in November with inventory rising 38% and closed sales increased 30% compared to November 2017. This market segment also saw its median closed price hold steady at $250,000. New home construction in the lower price range is meeting the needs of buyers and building inventory in much needed areas of eastern Collier. Inventory under $300,000 makes up over half of the available condominium inventory. It also had the highest inventory increase (38 %) in the in the single-family home market too.
The inventory level going into season this year is more robust than in several years. Days on market is decreasing which is a sign of better pricing. Pricing homes to sell is clearly in effect and is definitely making a difference in the sales numbers. Visitors will be impressed with the choices and stable prices in our Real Estate market this season.
Some interesting pockets of activity in November inlcuded: median closed prices decreased 19% in the Naples Beach area (34102, 34103, 34108); but increased 12% in North Naples area (34109, 34110, 34119). Single-family homes in Central Naples (34104, 34105, 34116) sold the fastest with an average of 66 days on the market from listing to closing.
As always a Real Estate investment in Naples, FL is a sound investment!
Whether you are interested in selling or buying a home in Naples allow my 20+ years of experience and knowledge provide you with an accurate market comparison of your desired property, and ensure your next purchase is a success!
You may find the complete NABOR October 2018 report at the NABOR Market Statistics page →.
Is this interesting to you? We are very excited about all the amazing properties available for sale in our awesome city. Want to know more about Naples real estate properties? Give me a call!
Call Carolyn today! (239) 269 5678
Want to know about our flexible fees? It’s a simple and advantageous financial proposition to serious property sellers and buyers, ultimately saving you money and time.
My goal is to find your dream property at a fair price and
rewardingly sell your investment.
Invest Wisely, Save Time, Save Money.
Call Carolyn Weinand at 239 269 5678 for a free consultation about the Naples, FL Real Estate market! A home, a property, in this highly sought after market and beautiful city may be your next best move.
We encourage you to send feedback! We also appreciate contacting us at firstname.lastname@example.org in case you find an error (oh no!) in any of our articles.
Also, submit → your favorite stories for publishing!