Independence Day was a great holiday and wonderful reminder of the unparalleled freedoms we have as Americans. Claim your independence from winter by purchasing your snowbird getaway in Naples now. Celebrate our magnificent weather and lifestyle the whole year through!

Market Update!

The NABOR® Market Report “Price Climb Slows as Inventory Heats Up for Summer” was released on June 28th. As competition grows in the Naples housing market ­– overall inventory increased 67.1% in May to 5,019 properties from 3,004 properties in May 2023 – monthly closed sales for the month decreased 12.2% to 907 closed sales from 1,033 closed sales in May 2023.

In addition, there were 1,710 price decreases reported in May, and the median closed price was $650,000, the same as the median closed price reported in April, which enjoyed 2,365 price decreases. Comparatively, the median closed price increased 8.3% to $650,000 from $600,000 in May 2023.

Another benefit of rising inventory and list price decreases has been the rise in the number of properties for sale in the lower end of the market. For May, properties in the $300,000 and below price category increased 104% to 308 from 151 in May 2023. Similarly, properties for sale in the $300,000 to $500,000 price category increased 90.1% to 1,032 from 543 in May 2023.

Here are some interesting market statistics comparing May 2024 to May 2023:

• Overall Inventory increased 67% to 5,019
• Overall Pending Sales down 11% to 919
• Median Closed Price up 8% to $650,000
• New Listings up 18% to 1,201
• Overall Closed Sales down 12% to 907
• Days on Market up 26% to 67

Take The Plunge!