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.

Sellers are raising prices and multiple offers are still coming in,” said Budge Huskey, CEO, Premier Sotheby’s International Realty. “This is because inventory is limited, and more sellers are realizing now is a good time to place their home on the market and get top value in the current market conditions!”

Broker analysts predict the level of demand experienced in March is sustainable and should be expected to continue for the next few months, or longer. “Season was disrupted this year because many people elected to hold off relocating until they were fully vaccinated,” added Huskey. “Agents also report that many seasonal visitors are staying longer than in previous years, possibly because they can afford to wait in anticipation of more homes becoming available in the luxury market. I believe we’ll continue to see more newcomers from northern states looking for homes in the high end in the coming months. Beyond that, and as we enter the summer season, we might begin to see a second wave of international buyers entering our market as travel restrictions begin to relax.”

Median closed prices in March increased 12.2 percent to $415,000 (the highest median price increase month/month on record since 2008) from $370,000 in March 2020. In March 2021, there were just 1,819 homes in inventory (the lowest it has been since 2014), which was a 73.2 percent decrease from 6,795 homes in inventory in March 2020.

The March report revealed that the Naples area now has only a 1.6 month supply of homes available to buyers
Naples Housing Market

The following charts give a visual summary of market activity:

Closed Sales
Naples Housing Market
Naples Housing Market

Median Price

Naples Housing Market

And for the 12-months to March:

Naples Housing Market


Inventory of Homes for Sale

Naples Housing Market

Naples Housing Market

Naples Housing Market

While inventory at 1.6 months of supply is extremely low, this situation has not been reached because of a reduction in the number of properties being listed, with new listings having been steady around 1,500 per month for the last decade and actually increased more than 30% in March 2021 from the year before.
If new listings are steady and inventory is low, that means properties are selling very quickly.
But price appreciation has not been seen equally in all price levels. “Most of the high appreciation that’s driving median and average
closed prices up in recent months is in the $2 million and over market.”
As for the future what remains true is that “as it’s now possible to work from anywhere in the world so why not live and work in paradise?”

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Andrew Oliver
Sales Associate | Market Analyst |

Naples, Bonita Springs and Fort Myers
m. 617.834.8205

Market Analyst | Team Harborside |
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945

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“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of He’s assembled the most comprehensive analysis of Essex County we know of with market data and trends going back decades. It’s a great starting point for those looking in the towns of Marblehead, Salem, Beverly, Lynn and Swampscott.”