Sheree Lee Goldenbaum PA, Naples, FL - William Raveis Real Estate

The Naples area residential real estate market experienced a 30% year-over-year increase in inventory and a 32% increase in new listings in October, according to data from the Naples Area Board of Realtors.

There were 3,367 pieces of inventory and 1,231 new listings last month. Overall pending sales and overall closed sales were down 1% and 13%, respectively. Homes spent an average of 56 days on the market in October, with a median closed price of $580,000.

The 5 D's are often considered key motivators for real estate transactions because they represent significant life events or circumstances that drive people to buy or sell property. For example:

1. **Death:** Inherited properties or the need to downsize after a family member's passing can lead to real estate transactions.

2. **Divorce:** Separation often involves dividing assets, including real estate, leading to property sales.

3. **Debt:** Financial difficulties may prompt individuals to sell property to alleviate financial strain.

4. **Downsizing:** Life changes, such as children moving out or retirement, may prompt individuals to downsize their homes.

5. **Dislocation:** Job changes or relocation for various reasons can drive people to buy or sell property.

These life events create a dynamic real estate market as individuals respond to changing circumstances, leading to transactions and movement within the property market.

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Overall real estate inventory in Naples continues to inch upward at a steady pace, according to the latest market report by the Naples Area Board of Realtors.

New listings in September increased 27.3% to 937 new listings from 736 new listings in September 2022, making pre-season buyers happy, reports.
For September, inventory for single-family home and condominium markets increased 13.2% to 2,793 properties from 2,468 properties in September 2022. The report shows that pre-season homebuying is starting earlier every year as pending sales (homes under contract) in September increased 18.7% to 735 pending sales from 619 in September 2022 and 687 in pre-pandemic September 2019.

The overall median closed price in September increased 3% to $571,500 from $555,000 in September 2022. Historical data shows that prices and competition during autumn months are lower than in winter months.

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Connect with me
239.248.8466

William Raveis Real Estate

9308 Tulipano Ter, Naples, FL 34119 Click for info or call Sheree @ (239) 248-8466 for private showing

Ready to get back on your feet, but not sure when you can purchase again?

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There's been a lot of confusion about home prices in the media over the past year. That caused some delay to moving plans. Not only did they not crash, but after a slight dip during the second half of 2022, they've been rising this year nationally.

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My son moved to Seattle and has an apartment the same size. This is such an inspiration!

A Real Estate Treasure Hunt Led This D.C. Renter to a 403-Square-Foot Studio And it checked all the boxes.

Basically, prices this year have exceeded all expectations. Now, these experts say they'll be either flat or show positive growth.

In the midst of rising interest rates causing a standstill in the resale home market across much of America, broker analysts examining the July 2023 Market Report from the Naples Area Board of REALTORS® (NABOR®), which monitors home listings and sales in Collier County (excluding Marco Island), have identified a noteworthy trend. Despite several interest rate hikes, Naples has maintained consistent home sales activity over the past year. Although cash sales for homes in Naples have declined from 66.7 percent in January to 53.5 percent in July, the median closed home prices in the first seven months of 2023 have continued to rise compared to the same period in 2022.

Molly Lane, Senior Vice President at William Raveis Real Estate, commented on the situation, stating, "Our area's activity may appear stagnant compared to the previous year, but it still surpasses pre-pandemic levels. While there may be fewer available homes for buyers right now, a significant number of sales continue to take place, and there is no sign of an abrupt drop in home prices."

According to the latest data, the economy is still quite strong right now - which is great news for those thinking about selling their house. Why? With low unemployment and increasing wages, there are plenty of people in stable financial positions who are ready to buy a home when the right one hits the market.

With 18 Florida offices and 450+ top-producing agents sending business from Southwest/South Florida to the Northeast and back, we're in a great spot!

#1 Market share in Port Royal, each year since 2019*.
Average sale price of $18M.

#1 Market share in Grey Oaks**. Average sale price of $4.1M.