July Housing Market in Naples Defies National Trends
Naples, Florida. (August 24, 2018) – According to the National Association of REALTORS July market report, existing home sales in America decreased for the third straight month as a result of the severe housing shortage that is not releasing its grip on the nation’s housing market.
Conversely, homes sales in the Naples area were up 8 % in July according to the July 2018 Market
Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island). The nation has only a 4.3-month supply of home inventory, while Naples has a healthier 6.25-month supply of inventory.
“The Naples area overall median home price increase in July 2018 seems to be the only statistical category where we match national trends,” said Kathy Zorn, “Naples saw an 8 % increase in its overall median closed price in July 2018 compared to July 2017; whereas nationally, median closed prices went up just 4 %
Here are the major points of this Naples real estate market report for July 2018:
- Home Sales up 8% in July 2018 compared to July 2017.
- Inventory fell 1% to 4,871 properties, compared to July 2017.
- 39% increase in condominium closings in the Naples Beach area (West of US 41).
- Overall Pending Sales up 11% in July.
- Pending Sales for luxury condominiums ($2 million +) up 150% in July!
- Cash Sales account for 50% in Naples (compared to 20% nationwide).