Naples housing market prime for summer buyers

Broker analysts reviewing the June 2023 Market Report by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), believe a surge in summer travel contributed to the reduction in home sales in Naples during June. The report showed a 13.6 percent decrease in overall closed sales for the month to 837 closed sales from 969 closed sales in June 2022. Though the dip in closed sales appears temporary and may not linger into July’s closed sales data as overall pending sales (homes under contract) in June increased 0.8 percent to 800 pending sales from 794 pending sales, and June’s showings increased slightly from showings reported in June 2022. Fortunately, slow sales in June did not impact home prices as the median closed price reported in June increased 0.4 percent to $602,494 from $600,000 in June 2022.

The percent of list price received during June decreased 2.9 percent to 96.2 percent from 99.1 percent in June 2022.

Overall inventory continues to rise compared to 2022 levels. June had an 8.2 percent increase in overall inventory to 2,659 homes from 2,457 homes. But according to the area’s top brokers, this increase was due to low sales for the month and not because of new listings, which decreased 28.2 percent to 860 new listings from 1,198 new listings in June 2022.

The NABOR® June 2023 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. NABOR® sales statistics are presented in chart format, including these overall (single-family and condominium) findings for 2023:

If you are considering buying or selling your home, look to a Naples REALTOR® who has the ability to provide an accurate market comparison and give you expert advice on how to capitalize on today’s market conditions. A REALTOR® can ensure your next purchase or sale in the Naples area is a success. Search for your dream home and find a Naples REALTOR® on Naplesarea.com.