October – Naples Market Report – Buyers are Back: Homes Under Contract Soar 24%

Naples, Fl. (November 22, 2019) – As predicted by a group of Naples real estate brokers, buyer activity began to rise in October with a remarkable 23.7% increase in overall pending sales (homes under contract) to 987 pending sales during October 2019 compared to 798 pending sales in October 2018. Sellers also felt a surge in showings (up 40% compared to October 2018), and the number of price reductions slowed to just 15% of the properties available in October’s overall inventory compared to September,
which saw 26% of its inventory’s prices reduced. Price reduction activity is an important behavior for buyers to watch as it is an indication of how eager sellers are to sell.
Closed sales during October increased 9.7% to 758 closed sales compared to 689 closed sales in October 2018, according to the October 2019 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island).

Author: Dominick Tascher Group - Blog

Naples to Estero Real Estate Blog by Dominick Tascher Group at MVP Realty brings to the public the latest information about real estate news and trends, market reports, new communities and also topics related to living in the paradise of SW Florida; Naples, Bonita Springs, Estero and South Fort Myers.