After forbearance, owners can pick up where they left off, but the return process can be complicated. Both South and Central Fla. have a large number of these owners.Mortgage servicers took their
🚨 April 2021 📢 Just Released Market Report for Naples and for all of Southwest Florida ☘ Hoey Team ☘ exp Realty 🌴 SW Fla 🍀
Dated: April 30 2021
First of all Kim and I hope that you and yours are doing good; wherever you are located.
Hot off the press please find info from the just released February 2021 Market Report combined with data from our Collier County based; Southwest Florida Board of Realtors; NABOR with this as part of the report: “Sellers are raising prices and multiple offers are still coming in” the Hoey Team ☘ see this happening too as we experience what is happening here in all of Southwest Florida.
In addition, please do check out the stats in the different Naples / Collier County Property Types & Price Ranges.
(Let us know if you want more information on any aspect of the Real Estate market; we can provide Detailed Reports & Data for any part; Locally and Nationally in conjunction with our extended team; just let us know.)
Utilizing our Hoey Team ☘ Cutting Edge Technologies; including the best available Virtual Tools, etc. we are continuing to Efficiently Help Sellers & Buyers; previewing, showing, negotiate deals & Selling Homes; helping people to move / relocate across the US on a daily basis. Southwest Florida seems to keep increasing in desirability for US buyers; both end users & investors.
Interesting Statistics for March 2021 versus March 2020:
· Overall inventory down 73%.
· Overall Pending Sales up 153%
· Median closed sale price up 12%.
· Overall Closed Sales up 57%
· Single family home sales up 43%
· Condo home sales up 72%
· Days on market down 31%
Sellers, Buyers and REALTORS need be fully informed to help you make the best possible Real Estate actions.
March Home Sales Volume for Naples Hits Record High
Naples, FL (April 23, 2021) – Records were broken in March, but “don’t call Guinness just yet!” say broker analysts reviewing the March 2021 Market Report, released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island).
The analysts are a small contingency who represent the area’s real estate brokerage firms and meet monthly at NABOR® to interpret area housing market statistics.
The group’s analysis of activity last month confirmed that March broke records; but celebrations to commemorate the month’s record high statistics should be postponed because these broker analysts also agree that our market is probably not done breaking records for the year.
According to the report, March’s historic activity included 1,851 closed sales, $1,582,474,997 in total sales volume, and 60,147 showing appointments. This makes March 2021 the highest performing month on record over the last 13 years (the span of time NABOR® has tracked key metrics reflecting the area’s housing market activity).
March was also the first month in several years where there were more reported price increases than decreases. Median closed prices in March increased 12.2 percent to $415,000 (the highest median price increase month/month on record since 2008) from $370,000 in March 2020. In March 2021, there were just 1,819 homes in inventory (the lowest it has been since 2014), which was a 73.2 percent decrease from 6,795 homes in inventory in March 2020.
“Appreciation values have not increased dramatically in all price ranges,” said Molly Lane. “Most of the high appreciation that’s driving median and average closed prices up in recent months is in the $2 million and over market.”
Pending sales (homes under contract) activity in March also broke records, as seen in the 152.7 percent spike to 2,469 pending listings from 977 pending listings in March 2020. However, broker analysts were quick to remind each other that a high number of sales during the second half of the month last year were lost as we were in a pandemic lockdown. Despite last March’s COVID-19-related market anomaly, this March’s pending sales still eclipsed pending sales activity reported in any March over the last eight years.
“This is a challenging time for buyers in Naples,” said Brenda Fioretti, “and why it’s extremely important they carefully choose and work with a local experienced REALTOR® whose experience & expertise can guide them through the process.”
Fioretti is confident buyers can improve their chances of purchasing the property they want by being well-prepared as they enter this competitive market. She and several broker analysts advise buyers take the following steps prior to making an offer:
• Get a mortgage pre-approval
• Be ready to make a competitive offer
• Be available to view a home at the seller’s convenience
• Confirm that your agent has activated your profile in the Southwest Florida MLS, and make sure the information is accurate so you can be matched with new listings as soon as they become available
• Stay connected and respond quickly to your agent’s requests
• Be ready to make up the difference between the appraised value and the sale price if financing your home
• Don’t fall in love with just one house: Have a second and third choice in mind in case you miss out on your first choice
• If your favorite home choice goes pending with another buyer, make a back-up offer anyway! Often, the first buyer backs out and you become the primary. You can continue shopping for a home and terminate the back-up contract at any time before your offer becomes the primary
• Rely on your experienced REALTOR® for advice concerning escalation clauses and contingency matters
• Pay with cash to be most competitive, if possible, and avoid the mortgage underwriting process
The NABOR® March 2021 Market Reports provide comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. NABOR® sales statistics are presented in chart format, including these overall (single-family and condominium) findings:
Mike Hughes pointed out that closed sales in March left buyers in April with a 1.6 month supply of homes. For perspective, the National Association of REALTORS® considers a six-month supply of housing a balanced market. However, Hughes was quick to also remark that “depletion of inventory is not due to a lack of sellers, as new listings have been steady over the past several years.” According to the report, new listings have been hovering around 1,500 a month for the last decade. In March, new listings even increased 32.5 percent to 1,670 new listings from 1,260 new listings in March 2020. “With limited new construction options, buyers are stripping our resale inventory,” said Hughes, “especially in the high-end market.”
The March Market Report showed remarkable closed sales performance in the condominium market during March too, which had a 71.6 percent increase in sales to 1,021 closed sales from 595 closed sales in March 2020. Closed sales of single-family homes over $2 million also increased 68.4 percent in March. Geographically, closed sales of condominiums in Central Naples rose 118.3 percent in March, while the average sale price for single family homes in Central Naples increased 38.4 percent to $901,807 from $651,370 in March 2020.
“Sellers are raising prices and multiple offers are still coming in,” said Budge Huskey. “This is because inventory is limited, and more sellers are realizing now is a good time to place their home on the market and get top value in the current market conditions!”
Broker analysts predict the level of demand experienced in March is sustainable and should be expected to continue for the next few months, or longer. “Season was disrupted this year because many people elected to hold off relocating until they were fully vaccinated,” added Huskey. “Agents also report that many seasonal visitors are staying longer than in previous years, possibly because they can afford to wait in anticipation of more homes becoming available in the luxury market. I believe we’ll continue to see more newcomers from northern states looking for homes in the high end in the coming months. Beyond that, and as we enter the summer season, we might begin to see a second wave of international buyers entering our market as travel restrictions begin to relax.”
The March report continues to show that sellers are at an advantage with lower inventory and increasing prices; but, deals are available, and the Hoey Team have secured a number of deals recently in both Lee County and in Collier County for Buyers; we help & serve both Sellers and Buyers.
If you are looking to buy or sell a home in Southwest Florida, contact Barry & Kim with the Hoey Team ☘ exp who serve all of Southwest Florida including Fort Myers, North Fort Myers, Cape Coral, Matlacha; Sanibel, Captiva and the Islands; Miromar Lakes; Estero; Bonita Springs; Marco Island; Goodland; Everglades City; Ave Maria; basically all of Collier and Lee Counties; based in Naples who have respected qualifications, track record, experience; skills; additional education; best available technology; knowledge and the most desirable credentials to help you including to correctly provide an accurate market comparison and efficiently negotiate a sale with impressive results. Please ask for or click here to check out our sales stats and testimonials to help verify this.
For home owners / sellers considering to sell a home in Naples or any part of Southwest Florida; should you want to upsize, or downsize, contact Barry and Kimberly with the Hoey Team ☘ exp Realty who have the reputation, experience; work ethic, local market knowledge; and the best possible tools & systems to provide an accurate market comparison in todays market so you can determine the right asking price to achieve the best possible bottom line. Our vast array of marketing methods / tools and negotiation skills are second to none.
REALTORS Barry & Kim can also ensure your next purchase in the Naples / Southwest Florida market area is a success in an efficient, stress-free way. We facilitate deals for Sellers and Buyers; guiding the transaction all the way through close.
P.S. ~ If You'd like for us to create a regular Video Tour for ANY of the Properties on our website, just CLICK "Video Request Button"; from property details. We will get a custom video tour to you.
For all of Collier County; Lee County; Covering all of Southwest Florida and beyond with our growing team; find out more at: www.HoeyTeam.Net or contact Barry or Kim via email at Barry@SWFLLuxury.Com or KimZuponcic@Gmail.com or, Call/Text the Hoey Team ☘ : (239)-360-5527
Barry & Kim with the Hoey Team ☘ exp Realty
Barry Hoey PA, REALTOR®, CIPS, CLHMS, CRS, GRI, SRES
Full time Real Estate Broker Associate
Kimberly Zuponcic PA, REALTOR®, CRS
Full time Real Estate Sales Associate
"Your Real Estate Concierge"
Call/Text Hoey Team: (239)-360-5527
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CREA (Canadian Real Estate Association) Global Affiliate
Member of The Institute for Luxury Home Marketing®
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Member of FIABCI-USA; the International Real Estate Federation
Overseas member of the Institute of Professional Auctioneers and Valuers (IPAV) MIPAV (OS) MMCEPI
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