Naples housing market – onwards and upwards
The March 2021 Market Report, released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), shows that March was the highest performing month in the 13 years NABOR has tracked these metrics.
Naples Market boomed in March
Here is the summary of activity in March: sales up 57%, inventory down 73%. Median price (overall) up 12%.
Naples market on fire in February
Overall closed sales of existing homes in Naples for February increased 62 percent to 1,307 from 807 in February 2020.
Buyers are scooping up the available inventory of homes in all geographic locations within Naples almost as fast as they come onto the market. Inventory fell 68.8 percent in February to 2,224 homes from 7,127 homes in February 2020.
Single-family homes continue to be in high demand so, according to the report, many buyers pivoted to condominiums in February. As a result, the condominium market experienced a 75.7 percent increase in closed sales and a 66.6 percent decrease in inventory. In fact, condominium sales in February 2021 eclipsed its comparable sales in any month over the past 15 years.
Imperial Golf 2020 Housing Market Review
The median price of the SFHs and Detached Villas sold in Imperial Golf in 2020 declined slightly to $500,000, and remained well below the boom years of 2005-2007.
Pelican Bay 2020 Housing Market Review
The median price of the SFHs and Detached Villas sold in Pelican Bay in 2020 increased 37.5% to $2.2 million, beating the prior high of $1.8 million in 2006.
The median price of the Condos sold in Pelican Bay in 2020 dropped 10.8% to $800,000, but there was a big change from H1 to H2. The median price remains below the peak $1,125,000 in 2006. Sales recovered to the 2012-14 level and for the first time in 21 years of data were larger in H2 than in H1.