Naples Real Estate Report! October 26, 2022
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Naples Real Estate Report
Hurricane Ian Takes Toll on Real Estate Market
Active listings in the Bonita Springs-Estero real estate market were already low before Hurricane Ian made landfall September 28 in Southwest Florida. Based on property listings within the Southwest Florida MLS, 9% of properties that were active listings before the storm were either terminated or withdrawn, which is 43 out of 476 homes in Bonita Springs and Estero. That decrease is even sharper in other parts of Lee County, with 14.5% of the active listings withdrawn or terminated. Naples and the Collier county area have seen only 6.6% of actively listed properties pulled from the market.
Real Estate News
Naples Area Real Estate Market Report – Naples Area Board of REALTOR® (NABOR®) released the September Market Report. Here are a few interesting comments:
- Price range with the strongest sales in September: $500,000 to $1,000,000
- End of month inventory down nearly 30% from a year ago
- Average days on market increased to 40 days, but still far below the average of 100+ days several years ago
- Average selling price dropped to around 96% of list price
- The pace of home sales has slowed since the hurricane but there has been a steady flow of new listings in the past two weeks
- The home sales are expected to bounce back quickly as tourist season approaches
September 2022 compared to September 2021:
For details, trends, and year-to-date Naples area market statistics click here. Highlights from the September 2022 market report compared to September 2021:
| Categories | September 2021 | September 2022 | Change |
|---|---|---|---|
| Total showings (month/month) | 28,452 | 19,034 | -33.0% |
| Total closed sales (month/month) | 931 | 523 | -43.8% |
| Total pending sales (homes under contract) (month/month) | 1,085 | 619 | -42.9% |
| Median closed price (month/month) | $455,500 | $555,000 | 21.8% |
| New listings (month/month) | 985 | 694 | -29.5% |
| Total active listings (inventory) | 1,387 | 2,146 | 54.7% |
| Average days on market | 24 | 40 | 66.7% |
| Single-family closed sales month/month) | 454 | 258 | -43.2% |
| Single-family median closed price (month/month) | $615,000 | $682,500 | 11.0% |
| Single-family inventory | 883 | 1,379 | 56.2% |
| Condominium closed sales (month/month) | 477 | 265 | -44.4% |
| Condominium median closed price (month/month) | $355,000 | $446,520 | 25.8% |
| Condominium inventory | 504 | 767 | 52.2% |
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
