NABOR Market Report
🚨 July 2021 📢 Just Released Market Report for Naples Area with information for all of Southwest Florida, via the ☘ Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ SW Fla 🌴
Barry & Kim with the Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ hope that you and yours are doing good; wherever you are located.
Hot off the press please find info from the just released June 2021 Market Report combined with data from our Collier County based; Southwest Florida Board of Realtors; NABOR with this quote as part of the report: “More people are coming here to live full time and they are willing to pay the price for a home in paradise.” the Hoey Team ☘ see this happening too in all of our Southwest Florida marketplace’s.
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 🍀 239RealEstateDeals.Com LLC ☘ 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 buyers from all across the United States, both end users & investors.
Interesting Statistics for June 2021 versus June 2020:
· Overall inventory down 79%.
· Overall Pending Sales down 15%
· Median closed sale price up 30%.
· New Listings down 12%
· Overall Closed Sales up 68%
· Single family home sales up 44%
· Condo home sales up 99%
· Days on market down 70%
Sellers, Buyers and REALTORS need be fully informed to help you make the best possible Real Estate decisions.
Frenzy Fades to a Simmer as Inventory Dips Going into Summer
Naples, FL (July 23, 2021) – With less than a one-month supply of inventory available, the Naples area housing market experienced a 14.5 percent decrease in overall pending sales in June to 1,256 pending sales from 1,469 pending sales in June 2020. Low inventory levels in June also contributed to a 7 percent decrease in showings for the month. This simmering of activity has broker analysts who reviewed the June 2021 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), certain that the wild housing market frenzy that began about a year ago – peaking in March – is now decelerating and being replaced with a new level of activity that reflects improved market equity for sellers and sustained buyer interest from people seeking permanent residency.
“Inventory is turning over daily,” said Brenda Fioretti. “That’s an important point for buyers to understand because many people think the inventory number we report is all that is available for the month. But that’s not true. Multiple home buying opportunities are a daily occurrence with new listings coming on the market continually. So buyers shouldn’t give up hope when inventory is low because their dream home might become available tomorrow. Though they need to be prepared to move quickly before the home sells.”
According to the report, overall inventory decreased 78.8 percent to 1,271 homes in June from 6,003 homes in June 2020. As expected going into summer, new listings decreased 12 percent in June to 1,147 new listings from 1,303 new listings in June 2020. However, in the first six months of 2021, new listings have increased 9.9 percent to 8,744 new listings compared to 7,957 new listings reported during the first six months of 2020. In fact, the number of new listings during the first six months of 2021 was actually higher than the number of new listings reported in the first six months of any year in the last five years.
“Last year, the second half of the year was better than the first,” said Mike Hughes, who added, “but I think we will probably see the opposite this year.”
Hughes prediction might be accurate because according to the SWFL MLS data, it is unlikely we will be able to match the sales activity witnessed over the last year anytime soon. For example, closed sales in Naples increased 85.1 percent in the first half of 2021 to 9,414 closed sales from 5,086 closed sales in the first half of 2020 (during the height of COVID-19). For added perspective, in the first half of 2018 and 2019, there were about 5,400 total closed sales reported, respectively. Also, the year-end report for 2020 showed 15,582 total closed sales for the year, which means over 10,500 closed sales took place during the second half of 2020. When the buying frenzy began a year ago in June, Naples had a 7.3 month supply of homes. As a result of the impressive year-long sales activity, our area now has a .9 month (less than 30 days) supply of homes.
But the tight inventory isn’t squelching demand quite yet. Closed sales in June increased 67.8 percent to 1,505 closed sales from 897 closed sales in June 2020.
“Sellers are capitalizing on the current market,” added Hughes, “but buyer demand has simply stripped our inventory. Since April, we’ve seen a 55 percent drop in inventory.” Hughes pointed out that the June report showed Naples had four times the inventory but only 200 more sales last June than what was reported during June of 2021.
According to Adam Vellano, “Due to the current inventory shortage, the overall percentage of current list price received was 99.4 percent in June. Buyers are willing to overpay, but not grossly overpay. So our advice to sellers is that ‘if your home doesn’t sell in the first couple of weeks, then it’s either overpriced or needs work to become more desirable.’”
“The positive news is that report also showed an extremely high percentage of cash transactions [58.3 percent],” said Vellano, who added, “which indicates that buyers are confident our market has value and equity.”
The NABOR® June 2021 Market Report 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:
The veteran Naples brokers who review the market report each month also said buyer demographics have changed in the last year. Dominic Pallini, summed up their thoughts by remarking, “More people are coming here to live full time and they are willing to pay the price for a home in paradise.”
The median closed price in June increased 30.3 percent to $465,000 from $357,000 in June 2020. However, for the 12-months ending June 2021, the median closed price for condominiums over $2 million actually decreased 9.4 percent. Sales of condominiums during June skyrocketed 98.7 percent to 767 closed sales of condominiums from 386 closed sales of condominiums in June 2020.
Geographically, the Ave Maria / Immokalee area reported the highest increase in new single-family home listings for June with a 52.4 percent increase, followed by the Central Naples area (34104, 34105, 34116), which reported a 37.5 percent increase in new single-family home listings for the month
The June report continues to show that sellers remain at an advantage with lower inventory, increased prices and multiple offer situations; especially where they have the best possible marketing in place; as the Hoey Team ☘ continually experience; 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 in all of Southwest Florida; including the Islands. Reach out today, call 239-360-5527 for information.
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 verify 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
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
"Your Real Estate Concierge"
Call/Text Hoey Team: (239)-360-5527
Certified Luxury Home Marketing Specialist™
CREA (Canadian Real Estate Association) Global Affiliate
Member of The Institute for Luxury Home Marketing®
Dubai International Property Consultant (DIPC)
Member of FIABCI-USA; the International Real Estate Federation
Overseas member of the Institute of Professional Auctioneers and Valuers (IPAV) MIPAV (OS) MMCEPI
Member of the European Association of Real Estate Professions (CEPI)
Your Real Estate Resource in Southwest Florida and beyond
New Construction Community Negotiator
"Practicing Professional Standards of Excellence" 🍀
- R. H.
- R. K.
- Scott Arbuckle
- E. K.
- Andrea and Ingo Zacher
- John & Glenn
- Dennis and Mary Fuelling
- Mike Schmidt
- Tom B (Naples FL)
- Nate and Heather - Naples FL Condo
- Cathy M
- Laura Cari
- Gary Dykes
- William Scheiman
- Z. S.
- K. R.
- Linda and George Megee
- Marie & Liam Varian
- C. C.
- Pierre & Réjeanne
- A. S.
- THE TOTH FAMILY
- L. B.
- Gary D (Naples FL)
- P. O’H.
- Ernesto & Miriam
- Adriana and Gerald - Sellers who we achieved 12% over full price for a home listed previously by other agents, who were not successful in selling it for a lower list price
- Sally and Tom
- Charles Payne
- Annette Sharp
- L. B.
- Jeri W. Buckley
- R. H.
- R. S.
- V. W.
- Ed & Lorrie
- Dan & Kim Long
- Brenda and Tom (Seller & Buyer as part of Up-sizing Relocation within SWFL)
- Margaret & Terrance
- Susan Carter
- E. H.
- Jeff and Tammy Brown
- Kelly McL - Three Naples Florida Homes
- C. S.
- Vickie Davis
- Tammy Ambrose
- Chip Servant
- Kenneth and Claudia McCalister
- Jason and Beth Becker
- A. S.
- Jane Richert and David Harmening
- Charlie & Susie Mahon
- Jacque Turner
- R. K.
- Rob Sanchez
- Doug Turner
- Ming Chiu & Ying Zhang-Chiu
- D Caple