NABOR Market Report

Barry & Kim with the Hoey Team 🍀 239RealEstateDeals.Com LLC  hope that you and yours are doing good.

09-22-2022 - Hot off the press; please find info from the just released September 2023 Market Report with data from Collier County based; Southwest Florida Board of Realtors; NABOR with this as part of the report: “I am searching daily for evidence of wide-spread market decline but have yet to find it.”  Barry & Kim with 239RealEstateDeals.Com LLC have yet to see it also, across all of Southwest Florida.

Daily, we track the Real Estate market here in the various Southwest Florida communities, where we have a more balanced market; keep in mind that pre-plandemic inventory was 4 to 6 months’ supply, and in some neighborhoods 12 months of inventory which was normal for those communities.  Hurricane Ian increased inventory in some areas, yet reduced it in others.       

We have a number of sellers getting different type properties ready to sell at this time.  With a number or recent and pending closings we are continually able to get 239 Area Deals for buyers (who we have prepared) having wanted to relocate or have that second home here.   Approximately 58% of deals for us remain cash transactions; interest rates and “feel good factor” play a role; as always too.  

Sellers or Buyers; feel free to reach out with any questions on the current market, call: 239-360-5527; as everyone’s situation is uniquely different; plus, there are always opportunities available in any type market.

In addition, please also check out the stats in the different Naples / Collier / Lee County Property Types & Price Ranges.

Let us know if you want more information on any aspect of the Real Estate Market here in Southwest Florida; Barry is a member of four different MLS Systems Covering all of Southwest Florida & beyond; we can provide Detailed Reports & Data for any area; Locally and Nationally including Custom Reports on the Luxury Real Estate Market in Naples, Marco Island and Lee County; encompassing all of Southwest Florida; just let us know if you want reports on other market areas.             

Utilizing our 🍀 239RealEstateDeals.Com LLC  Cutting Edge Technologies; including the best available Virtual Tools and Systems, 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; even with relatively low inventory in some cases.  Southwest Florida seems to continually keep increasing in desirability for buyers from all across the United States and internationally, for end users & investors alike.

Click Here and Below for a Link to Live Market Statistics for all of Southwest Florida.

Interesting Statistics for August 2023 versus August 2022

·       Overall inventory up 7%. 

·       Overall Pending Sales down 9%

·       Median closed sale price up 5%.

·       New Listings up 3%

·       Overall Closed Sales up 2%

·       Single family home closed sales up 3%

·       Condo home closed sales down 1%

·       Days on market up 74%

Sellers, Buyers, Brokers / Agents need be fully informed to help you make the best possible Real Estate deal decisions.

 

Market Resiliency Fuels Home Sales in August

 

Naples, Florida. (September 22, 2023) – Inventory is selling quickly, and prices are stable in the Naples housing market. According to the August 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), closed sales of homes in Naples during August increased 17 percent compared to July closed sales, and 1.9 percent to 702 closed sales from 689 closed sales in August 2022.  Brokers who reviewed the Market Report are confident sales during the second half of 2023 could outperform sales during the second half of 2022, unless we experience another major disaster like a hurricane.  Another promising factor that supports this expectation is the steady rate of new listings, which increased 2.6 percent in August, and contributed to the 7.2 percent increase in inventory for the month.

Naples Area Market Report - September 2023 infographic August 2023 versus August 2022 Barry Hoey - Hoey Team 239RealEstateDeals.Com LLC

“I see the top of the last economic cycle occurring in the first quarter of 2022,” said Cindy Carroll of Carroll & Carroll Appraisers & Consultants, LLC.  “This is when 18 months of rapid appreciation in most market sectors came to a halt.  Historically, a period of correction follows a market peak.  However, in most market areas, property values remain stable or have returned to our long-term historical trend of 8 percent per year appreciation.  I am searching daily for evidence of wide-spread market decline but have yet to find it.”

 

The median closed price in August increased 5.2 percent to $605,000 from $575,000 in August 2022. Though according to the August report, activity in the condominium market fueled many of the increases reported.  As such, there was a 7.7 percent increase in the median closed price in the condominium market compared to a 2.2 percent decrease in median closed price for the single-family home market; a 10.1 percent increase in new condominium listings compared to a 3 percent decrease in new single-family home listings; and a 25.5 percent increase in condominium inventory compared to a 3.7 percent decrease in single-family home inventory.

 

Typically, one of the slower months for activity, August’s showings decreased 19 percent to 21,269 showings from 26,191 showings in August 2022, which might also explain the 9.4 percent decrease in pending sales in August to 811 from 895 in August 2022.

 

“Days on market have been hovering around 50 since December 2022,” said Adam Vellano. “Before the pandemic, it was at 90-100 days.”  For August, the report showed 54 days on market compared to 31 days on market in August 2022.

 

The NABOR® August 2023 Market Report provides 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 for 2023:

Naples Area Market Report - September 2023 infographic Breakdown August 2023 versus August 2022 Barry Hoey - Hoey Team 239RealEstateDeals.Com LLC

“Even in a time of economic volatility and uncertainty, Florida still provides benefits as a tax haven compared to other states with high taxation and cost of living rates,” said Jillian Young, who added that “sellers waiting until winter season to list their home may miss out on the buyers who want to purchase a home before the end of the year and before more anticipated rate hikes.”

 

Young also went on to say that “if the housing market’s activity continues to perform at the same steady rate we’ve enjoyed so far this year – and current market conditions show it has the potential – then it’s likely homeowners could enjoy a 7 percent increase in home value by year end.  The fact that properties didn’t lose value during a year after a major hurricane will only strengthen the desirability of future homeownership in Naples.”

 

Broker analysts are not optimistic that inventory will rise above 3,000 properties in the next year. According to Jeff Jones, “The report showed 731 price decreases in August.  I tell agents that these should be considered ‘new listings’ as the new lower list price will be attractive to a set of new buyers seeking homes in that new lower price range.”

Understanding a home’s true market value can be a complicated process when there is great market dispersion and many factors influencing list price determination; please call local expert Realtors, Barry and Kim at 239-360-5527 for the best available guidance right here in Southwest Florida.

We compiled a Library of Tools and Resources to help anyone affected by a Hurricane.  HurricaneHelpFL.com points to this Resource, or Click Here

Buying or selling a home in Southwest Florida is a big and fast-moving endeavor.  That is why there has never been a more important time to work with a REALTOR® such as Barry Hoey and Kimberly Zuponcic PA, Hoey Team, 239RealEstateDeals.Com LLC who can help you write a good contract that protects you and gets the paperwork in order so your sale or purchase goes smoothly throughout the process.  We cover all of Collier and Lee counties.

  

Having an experienced REALTOR® (Such as Kimberly Zuponcic PA or Barry Hoey, Broker owner of 239RealEstateDeals.Com LLC) during today’s relatively low inventory environment is an essential partnership for buyers because experienced REALTORS® are poised to hear about a home before it goes up for sale, they know exactly when new homes hit the MLS in real time, and they can share this valuable information to home buyers.  Further, REALTORS® work closely with many other agents, have alerts set up when new homes are listed or back on market, and know how to maneuver the process so a buyer can act fast when a new listing meets a client’s purchasing criteria.

 

The Hoey Team  have secured a number of deals recently in both Lee County and in Collier County for Buyers; we help & serve Sellers and Buyers in all of Southwest Florida; including the Islands. Reach out today, call or text 239-360-5527 for information.

 

We are also Marketing Some Fabulous Listings across Southwest Florida make sure you check them out.

If you are looking to buy or sell a home in Southwest Florida, contact Barry & Kim with the Hoey Team 🍀 239RealEstateDeals.Com LLC  who serve all of Southwest Florida including Fort Myers, North Fort Myers, Cape Coral, Matlacha; Sanibel, Captiva and all 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 show you this.  

 

For homeowners / 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 🍀 239RealEstateDeals.Com LLC  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 Team; find out more at: www.239RealEstateDeals.Com  or contact Barry or Kim via email at Barry@SWFLLuxury.Com  or KimZuponcic@Gmail.com  or, Call/Text the Hoey Team 🍀 239RealEstateDeals.Com LLC    (239)-360-5527; thanks.

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Barry & Kim with the Hoey Team   exp Realty

 

Barry Hoey, REALTOR®, CIPS, CLHMS, CRS, GRI, SRES

Full time Real Estate Broker Owner

 

Kimberly Zuponcic PA, REALTOR®, CRS

Full time Real Estate Sales Associate

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Barry@SWFLLuxury.Com

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