the following info is courtesy of the Naples Area Board of Realtors...
View February 2023 Market Statistics
Buyers looking for homes in Naples during February were met with more choices as overall inventory increased 131.4 percent to 2,835 properties from 1,225 properties in February 2022. Broker analysts reviewing the February 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), attribute some of the rise in inventory to Hurricane Ian as many sellers were forced to address and remedy damage caused by the storm before the property was ready to welcome buyers. February’s overall median closed price is the same as January’s median close price of $600,000.
The gap in sales activity year over year continues to close thanks to continued confidence in the Naples real estate market. Overall pending sales in February decreased 16.8 percent to 1,241 pending sales from 1,480 pending sales in February 2022. Overall closed sales during February decreased 17.2 percent to 682 closed sales from 824 closed sales in February 2022. And showings decreased 15 percent in February to 36,574 showings from 43,032 showings in February 2022. The majority of home sales in Naples during February were cash sales [62.1 percent in February]. The report’s pending sales data reflected several sales contracts that were cancelled numerous times during the month. This rise in contract cancellation rates in February is an indication that sellers need to either fix the problems found during inspections or become more agreeable to negotiate on the price. Brokers also think consumer sentiment over the financial market’s uncertainty could benefit the Naples area housing market as more individuals and investors may to turn to real estate as a more secure place to invest their wealth.
When you are ready to put your home on the market, contact Jeremy O'Guinn for the experience, negotiating skills, and local knowledge you need to ensure your experience is a success.