09/04/2020
The market in SWFL is HOT🔥 Read below👇
The Naples housing market experienced a continued surge in activity during July, which resulted in a 57.3 percent increase in pending sales (homes under contract) for the month. Closed sales during August increased 35.4 percent compared to July 2019 - greatly surpassing June's closed sales activity following the lifting of COVID-19 restrictions. However, a decreasing supply of inventory, which broker analysts believe is caused by heightened homebuying interest this summer, is making it difficult to keep up with the strong buyer demand.
Overall inventory decreased 28.8 percent in July to 4,390 properties from 6,168 properties in July 2019. However, many sellers were not hesitant about entering or staying in the market this summer. A steady rise in consumer confidence resulted in 1,193 new listings added to the overall inventory during July (a 21.7 percent increase compared to July 2019). Of those 1,193 new listings, 572 were single-family homes and 621 were condominiums. The report also showed fewer homes were terminated/expired/withdrawn from the MLS in July (599) compared to June (1,677).
For those who are considering selling, now is a good time to jump in the market to take advantage of the high demand for Naples property.
Ready to sell? click here: https://bit.ly/BGSellMyHome
