Corey Cabral, Downing Frye Realty Inc.
Compiled from the Naples Area Board of Realtors Market Statistics Reports.
If you are looking to buy or sell a home in Naples contact 30+ year veteran Realtor,
Corey Cabral at (239) 963-6590 or via email through our online contact form.
Inventory Up and Prices Hold Steady in February
Naples, Fla. (March 24, 2023) – Buyers looking for homes in Naples during February were met with more choices as overall inventory increased 131.4 percent to 2,835 properties from 1,225 properties in February 2022.
Broker analysts reviewing the February 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), attribute some of the rise in inventory to Hurricane Ian as many sellers were forced to address and remedy damage
caused by the storm before the property was ready to welcome buyers. February’s overall median closed price is the same as January’s median close price of $600,000.
The gap in sales activity year over year continues to close thanks to continued confidence in the Naples real estate market. Overall pending sales in February decreased 16.8 percent to 1,241 pending sales from 1,480 pending sales in February 2022. Overall closed sales during February decreased 17.2 percent to 682 closed sales from 824 closed sales in February 2022. And showings decreased 15 percent in February to 36,574 showings from 43,032 showings in February 2022.
Although unlike most of America, the majority of home sales in Naples are cash sales [62.1 percent in February] so the financial market’s uncertainty may benefit our housing market if high-net worth families turn to real estate as a more secure place to invest their wealth.
If you are looking to buy or sell a home in Naples contact 30+ year veteran Realtor,
Corey Cabral at (239) 963-6590 or via email through our online contact form.
