Hot off the presses from the Naples Area Board of Realtors (NABOR) is their latest market information for Naples area transactions. Check out the summation in this infographic for the October and November 2020 market data (which is September closed transactions):
As we’ve seen in terms of pricing and competition – inventory is DOWN a whopping 32%. Despite the lower inventory even with COVID looming we’re seeing 83% increase in pending sales, as well as 53% increase in closed sales, and 57% and 48% for single family and condo sales respectively year-over-year for September 2020 vs. September 2019 – truly astounding growth! Also, our area is best in the country with days on market averaging 90, down 12%.
Couple this with increasing costs of labor, lumber, and other macro-economic factors, and Southwest Florida’s real estate market is as hot as ever!