Southwest Florida Real Estate
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Naples Real Estate Report! November 30, 2022


Naples Real Estate Report

Naples real estate

Hurricane Ian Impact on Real Estate Market

There is no doubt that hurricane Ian is having an impact on our local real estate market.  Here are comments from real estate business leaders in the area:

  • “Whether a homeowner decides to rebuild or sell a property damaged by Ian has a lot to do with location and circumstance. Some retirees with an older damaged home west of 41 are choosing to sell as is and buy elsewhere in Naples, typically more inland and with a higher elevation, while newer homeowners in the affected areas are choosing to invest in a rebuild.”
  • “For every one homeowner that moves out of a neighborhood west of 41, there are two buyers looking to move in. We may see a shortlived variance occur within our market in the coming months as some discounting for homes with lower elevations may occur. But this also means there may be a premium set on those homes with a higher elevation.
  • While we saw a slight increase in new listings by condominium owners who had damage and decided to sell instead of rebuild, the hurricane is not going to spark a ‘fire sale’ trend.”
  • “This is a statement about the confidence of our market in the future. Many older homes that experienced severe flood damage during Ian are in desirable locations. And this is going to start a new building boom with higher quality product.”
  • Our current market has created many new opportunities for redevelopment that have caught the attention of a much broader spectrum of buyerIt is an environment created out of tragedy that will prove beneficial for the Naples area in the long run.

Real Estate News

Naples Area Real Estate Market ReportNaples Area Board of REALTOR® (NABOR®) released the October Market Report. Here are a few interesting comments:
  • A total of 525 listings were either terminated, expired, or withdrawn from the MLS during the month
  • New listings were down 14% from October 2021
  • Inventory increased 72.7% compared to a year ago
  • The median closed price was same as September at $555,000

October 2022 compared to October 2021:
Naples real estate

For details, trends, and year-to-date Naples area market statistics click here. Highlights from the October 2022 market report compared to October 2021:

Categories October 2021 October 2022 Change
Total showings (month/month) 33,578 18,654 -44.0%
Total closed sales (month/month) 877 662 -24.5%
Total pending sales (homes under contract) (month/month) 1,186 673 -43.3%
Median closed price (month/month) $450,000 $555,000 23.3%
New listings (month/month) 1,054 908 -13.9%
Total active listings (inventory) 1,346 2,325 72.7%
Average days on market 24 41 70.8%
Single-family closed sales month/month) 442 323 -26.9%
Single-family median closed price (month/month) $614,500 $760,000 23.7%
Single-family inventory 874 1,502 71.9%
Condominium closed sales (month/month) 435 339 -22.1%
Condominium median closed price (month/month) $370,000 $439,000 1.6%
Condominium inventory 472 823 74.4%

About Our Company

MVP Realty Associates, LLC – MVP Realty is a Naples based real estate company with agents and offices located throughout Florida:
  • Exceeded $2.5 billion in home sales in 2021 and closed  8,000 transactions
  • One of the largest real estate companies in Florida
  • Top 1% in total sales transactions
  • The #2 real estate company in SWFL
  • More than 20 offices across Florida
  • Over 1,200 agents who will help market your property to prospective Buyers
  • Fastest growing real estate company in Florida the past eight years
  • Brokers have 75+ years of broker experience
  • Best agent training, technology and tools in the industry

Please contact me for your home selling and home buying needs…for both new construction and resale residential properties.

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