NABOR Market Report
Barry & Kim with the Hoey Team 🍀 239RealEstateDeals.Com LLC ☘ hope that you and yours are doing good.
09-23-2022 - Hot off the press please find info from the just released August 2022 Market Report with data from our Collier County based; Southwest Florida Board of Realtors; NABOR with this as part of the report: “There are many opportunities for buyers” Barry & Kim with the Hoey Team, 239RealEstateDeals.Com LLC see this as we track the market daily here in the various Southwest Florida marketplace’s, where we are entering a balanced market; pre-covid inventory was 6 months supply, and in some neighborhoods 12 months of inventory which was normal in those communities.
We have a number of sellers getting properties ready to sell at this time, and we are continually able to get 239 Area Deals for prepared buyers who want to relocate or have that second home here. Approximately 60% of deals are cash transactions. Sellers or Buyers; reach out with any questions on the current market, call: 239-360-5527.
In addition, please also 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 here in Southwest Florida; Barry is a member of 4 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, 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; even with relatively low inventory. Southwest Florida seems to keep increasing in desirability for buyers from all across the United States and internationally, both end users & investors.
Interesting Statistics for August 2022 versus August 2021:
· Overall inventory up 71%.
· Overall Pending Sales down 19%
· Median closed sale price up 31%.
· New Listings Down 17%
· Overall Closed Sales down 37%
· Single family home closed sales down 11%
· Condo home closed sales down 36%
· Days on market up 35%
Sellers, Buyers and REALTORS / Agents need be fully informed to help you make the best possible Real Estate decisions.
August Report Shows a Healthy Housing Market
Naples, FL (September 23, 2022) – Indications that the Naples area housing market is transitioning to a balanced market became more evident during August as both inventory and days on the market increased. According to the August 2022 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), overall inventory increased 71.3 percent to 2,140 properties from 1,249 properties in August 2021. Of the homes on the market during August, 35.8 percent of them (766) experienced a price decrease and the overall list price received for the month slipped slightly to 96.4 percent from 99.2 percent in August 2021. Broker analysts say these factors are attributed to seller and buyer behaviors that resemble a healthy market environment.
While overall closed sales for August decreased 36.7 percent to 669 from 1,057 in August 2021, it increased 5.6 percent compared to July’s closed sales. Historically, closed sales and pending sales (homes under contract) in August do not outperform July’s closed and pending sales. But this year is different. “Pending sales in August increased nearly 20 percent [19.2%] compared to July,” said Bill Coffey. “This means that people wrote more contracts in August, but we will be tracking to see if this becomes a trend.”
Jeff Jones commented, “There are many opportunities for buyers. The market is healthy, inventory is up, demand continues and prices are realistic. Also, with rents skyrocketing, the option to buy is more desirable.”
The overall median closed price continued to increase in August, up 30.7 percent to $575,000 from $440,000 in August 2021. “There were only 31 single-family homes and 79 condominiums under $300,000 on the market during August,” said Mike Hughes. In August 2019, there were over 1,400 properties on the market under $300,000. But with so few available in the lowest price category today, Hughes remarked that “we should expect the median closed price to continue to stay high as long as the high-end market continues to stay very active.”
While looking at new listings reported in August, Molly Lane commented that, “We are on par with new listings compared to pre-pandemic levels in August 2019.” There were 850 new listings in August, a 16.9 percent decrease compared to 1,023 in August 2021. Jones responded that “buyers should be aware that new listings don’t just come from new sellers entering the market, but also from existing inventory where the home’s list price was decreased or from sales that were pending but fell through and went back on the market.”
The NABOR® August 2022 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 2022:
While showings were down 13 percent compared to August 2021, they were higher than showings reported during June and July. And there were 5,000 more showings in August compared to showings reported during pre-pandemic August 2019. Incidentally, there were 4,917 properties in inventory during August 2019 compared to 2,140 properties in August 2022.
Hughes remarked that the pandemic influenced many people’s behaviors, which led to outstanding showing and sales activity starting in late 2020 and through 2021. “People pushed up their plans to either retire early and move to Florida or purchase a second home in Florida. Demand for homes in Florida continues to be strong despite the Fed raising rates and fears of a recession. For Southwest Florida in particular, we’ve always enjoyed either good years or great years.”
Brenda Fioretti mentioned that during NABOR®’s recent Economic Summit, all three economists who spoke at the event agreed on this message to buyers: “Don’t wait for prices or interest rates to go down.” Fioretti encourages buyers sitting on the fence to jump in the market now because interest rates are not expected to go back to previous levels.
Buying or selling a home in Naples 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.
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.
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.
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)
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