2020 Year-End & February 2021 – Naples, Florida Market Update

“Buyer activity was the leader again in 2020. With mortgage interest rates setting record lows multiple times throughout the year and a strong drive by many buyers to secure a better housing situation – in part due to the new realities brought on by COVID-19 – many segments of the market experienced a multiple-offer frenzy not seen in the last 15 years” .

With all the recent activity, is it still a good time to buy? Many are buying property to occupy for the 6 months 1 day required to homestead for tax advantages, and escape the high taxes in their current states. And although prices are rising, Naples appears undervalued compared to other hotspot areas around the country. Interest rates remain low, and higher home equity coupled with the $250,000 to $500,000 tax free capitol gain on the sale of a primary residence makes it a good time for current homeowners to relocate. Working from home is allowing people move to their dream location many years earlier than planned.

Because of the desirability of the Naples lifestyle, offering year round sunshine, multitudes of outdoor spaces and activities, and an average annual temperature of 75 degrees, multiple offers are back. Now more than ever you need an experienced Licensed Realtor® to help you navigate this hot market and successfully negotiate the home of your dreams. I have won many multiple offer properties for my buyers. Put my 3 decades of local knowledge and negotiating skills to work for you. Contact me for expert help.

Sellers, there may never be a better time to list your home, condominium or investment land/property. As you can see from the chart above, January 2021 median closed price increased 14.7%, and overall inventory fell 59.7 percent to to 2750 listings, in spite of a whopping 1599 new listings in Jan. Buyer demand is high, with a 49% increase in closed sales and 38% increase in pending sales (under contract, but not closed).

Find out how Janine Monfort and Premier Sotheby’s team up to fetch the highest possible price for your home. Contact Janine to find out what your home is worth.

Many people don’t realize they qualify for a 1031 exchange, which allows tax free capital gains on investment properties. Explore the links below from a local 1031 exchange expert.

Your 1031 Exchange realtor is your “Quarterback”, working seamlessly with a 1031 team to ensure the timeframes and guidelines are followed and executed. Contact Janine to find out if you qualify for a 1031 exchange, and to expertly guide you from contract to closing.

With prices ranging from the $100,000’s to over $49,000,000 (and everything in-between), Naples offers something for everyone. To find your perfect home and among our 300+ communities, contact me for a list of the best properties for your needs, tailored to your criteria and budget, or click here to shop for properties by map, community, or lifestyle

If you are looking to buy or sell a home in Naples, contact Janine Monfort, a licensed Realtor® who has the ability to provide a virtual showing, an accurate market comparison, and negotiate a sale, taking it seamlessly from contract to inspection to closing and beyond.