Sales for the 12-month period ending August 31st were up 6% compared to the preceding 12 months, while year-to-date and monthly sales for August were consistent with those of last year. Year-to
August 2019 Naples Area Market Report
Sales for the 12-month period ending August 31st were up 6% compared to the preceding 12 months, while year-to-date and monthly sales for August were consistent with those of last year. Year-to-date, price segments up to $750,000 reflected a 2.1% increase in the number of closed sales, while segments between $750,000 and $5M were down by 6.4%.
The rate at which new listings entered the market in August slowed by 8.4% compared the same month to a year ago, reflecting an ongoing trend now resulting in a 5.2% decrease in year-to-date new listings. This trend is most consistent in price ranges below $750,000. The overall number of active listings have decreased, as well, with 4.6% fewer listings on the market as of September 1st when compared to the same date last year. Listings priced below $750,000 were down 7.4%, while those priced from $750,000 to $5M were up 3.1%.
With an increased pace of sales over the past 12 months and fewer listings entering the market, it stands to reason that months of inventory would decrease . As of September 1st, the marketplace posted 5.49 months of inventory, an 8.7% drop from the same date last year when 6.01 months was posted.
Overall, the Naples real estate market continues to move in a positive direction with healthy inventory levels, steady sales, and stable pricing.
For a more detailed market report, click below:
Rowan Samuel has lived many lives. Originally from Zimbabwe (Rhodesia), he and his family immigrated to the U.S. in 1980 to escape the brutal Mugabe regime - they lost everything when they came to Am....
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