Naples Market Update Sept.2020 | Strongest September ever

October 27, 2020

The Sept. 2020 Market Report was just released by the Naples Area Board of REALTORS®.  They determined that performance in several key areas was at a 20-year high compared to activity reported during any other Sept. on record. Closed sales increased 52.9% to 1,096 closed sales in Sept. 2020 from 717 closed sales a year ago. Pending sales activity also increased by 83.4% in September 2020 compared to last year. September is normally the slowest month in our area and most Realtors and businesses are on vacation. Not this year. The pandemic changed our world. People want to get out of big cities and move to quieter and cleaner suburbs. Naples is just the perfect example of the lifestyle most people are looking for. Clean waters, beaches, and a natural habitat that is unique in the world.

Median closed prices for Sept. increased by 18.2% to $384,000 from $325,000 last year. The Inventory of properties continues to drop and becomes more of a challenge for buyers. In Sept. Naples inventory decreased 32.2% to 3,980 properties from 5,873 properties in Sept. 2019. Homes come on the market and the amount of showings is overwhelming. Today’s buyers are advised to make super quick offers when they like a home that just came on the market. Buyers often miss out on opportunities because they were too slow to respond or offered not enough money for the property. Buyers be prepared with proof of funds, pre-approval letters and offers close to the asking price. Call Stefan Bolsen, Broker Associate at 239.285.1332 to sell or buy your property in Naples, Marco Island or around the world.