Don's Realty News July 2024
(239) 405-1741    |     |
A Message from Don
By Don Bahash, Realtor
Happy Birthday America!

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!

Come enjoy the summer warmth and find the perfect winter getaway now. Interested? Please visit my website for blazing fast property searches, FREE home valuation, and weekly neighborhood market reports. Our firm provides “Superior Service and Results!” and I bring the best of Naples to you.
Making Summer Home Improvements? Here Are the Top Five ROI

Homeowners and investors aim to maximize their property value. Before diving into costly renovations, it's essential to know which upgrades offer the highest returns. The "Remodeling 2024 Cost vs. Value Report," from Zonda, ranks home improvement projects by return on investment (ROI). Interestingly, most top-ranking projects involve exterior upgrades, underscoring the importance of curb appeal... Read More
Going on Vacation? Use Smart Technology to Secure Your Home

With today's advanced home security technology, you can protect your home more effectively than ever. Here's how smart technology can keep your home safe from burglaries while you're away.

Motion Detection Lights
Install security cameras with integrated spotlights or floodlights that activate with motion detection. These lights will alert... Read More
Painting a Brick Home Is Trendy. Here's What You Should Know

For homeowners looking to refresh their home's exterior, painted brick has become the go-to, thanks to trends like modern farmhouse aesthetics and minimalism. However, it's smart to consider whether this trend will last. Styles change, and what looks appealing today could become outdated in the future, potentially lowering your home's resale value. Additionally, reverting painted brick is extremely difficult and will likely... Read More
Changes Ahead: How the
NAR Settlement Affects
Buying and Selling

On March 15, 2024, the National Association of Realtors (NAR) reached a significant settlement that will change how broker commissions work in real estate transactions. This settlement, which still needs court approval, aims to address complaints from home sellers and will take effect on August 17, 2024. Here's a breakdown of what's coming:

Written Agreements for Homebuyers
One major change is the requirement for real estate agents to sign written agreements with buyers before showing any homes. The terms need to be specific and clear... Read More
Sales Decline Amid Rising Prices and Inventory Growth

Existing-home sales fell slightly in April, according to the NAR. Every major sales region in the country recorded month-over-month declines, while every region, except the West, saw sales drop year over year. While the decline in sales was minor, Lawrence Yun, chief economist for the NAR, reported that the upper-end market was experiencing significant gains due to increasing supply.

Housing Inventory Trends
At the end of April, total housing inventory climbed to 1.21 million units, up 9% from a month ago... Read More

Featured Listings
Vanderbilt Reserve - Naples
Townhome w/ Easy Maint
3 BR + Den / 2.5 Baths
1, 716 SqFt Under A/C
Offered at $549,900!
Montelena - The Vineyards
Luxury Naples Condo
4 BR + Den, 3.5 Baths
3,099 SqFt Under A/C
Priced $798,900 - PENDING!
Vanderbilt Shores Hi-rise
Gulf of Mexico Sunsets
2 Bedrooms, 2 Baths
1,560 SqFt Under A/C
Offered at $1,699,000!
Morton Grove Single Family
Fenced Yard
3 Bedrooms / 2 Baths
1,466 SqFt under A/C
Offered at $444,900!
Don Bahash, P.A.  -  (239) 405-1741 Don's Realty News  -  July 2024 

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Don Bahash, P.A., Weichert Realtors - Paradise Homes, 3400 Tamiami Trail N., Suite 103 , Naples FL 34103
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The material in this publication is provided for your informational purpose only and is not intended to substitute professional advice.
If your property is currently listed with a Real Estate Broker, this publication is not intended as a solicitation.
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