January 2021 – Naples, Florida Market Update

Eager homebuyers did not waste any time in December as shown by pending sales for homes and condos in the Naples area which leaped 88.6 percent. Inventory continued to struggle to keep up with growing buyer demand, dropping 49% and tightening to a very low 3.1 months of Inventory. Closed sales increased 45%, and days on market decreased 18%. Median closed price is $405,000 (which means half of homes and condos listed are above this price and half are below) There is a continuing migration to Naples, Florida, where the average year round temperature is 75 degrees and the lifestyle perks and generous tax advantages continue to attract new residents at higher growth rates than most other states.

If you are thinking of selling, it’s a great time to list your home or condo. As you can see from the chart above, inventory is low, closed sales and median prices are up, pending sales are skyrocketing (under contract, but not closed) and and average days on market is 77 days.

Contact me for a complimentary home evaluation, I can help you to improve your offers.

I have many people asking if now is a good time to buy. This is a sellers market that also offers favorable conditions for buyers. Interest rates remain at near all-time lows; mortgage payments are still less expensive than renting. Higher home equity makes it a good time for current homeowners to relocate. Working from home allows more people to escalate their plans to move to a more desirable location. Quality of life is becoming a #1 priority.

With prices ranging from the $100,000’s to over $65,000,000 (and everything in-between), Naples offers something for everyone. Put my 3 decades of local knowledge to work for you, 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 on my website.

The 30-year fixed-rate mortgage remains near record lows this week, averaging 2.85%. This means for each $100,000 financed, the Principle and Interest payment is $413, making owning a home more affordable for everyone. Contact me for more detailed information.

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.