The June Market Report just came in and Naples real estate enjoyed another very healthy month. This year has been positive overall after a terribly end to 2016. The inventory logjam has moved through nicely and prices are on the rise again. The price declines suffered in January, February and March sold a lot of homes. NOW we have 2 straight months with limited inventory coming to market and prices moving up.
June market Report:
Pending Sales +16%
Closed sales +9%
Sold Prices +3%
Pending in homes $1M-$2M +41%
Closings in $2MM +33% and in $300k-$500K +27%
North Naples Closings +18%
Condo Closings +13% with prices +8%
I held my prediction of the future market in last month’s writing. The turn I saw in May needed to be confirmed with a second positive report. Having seen June’s figures I see the market turning away from a buyer’s market to a seller’s market. Less inventory coming to market and the previous inventory backlog having moved, prices will naturally rise. Buyers cannot afford to pick over inventory and wait until they GET THE DEAL. Sensibly priced homes will move more relatively quickly. Naples hits “season” in 5 months and I see a hot market coming.
If you are a buyer, go make your choice. There are plenty of fine selections available now. If you are a prospective seller bring your home to market in the next 60 days.
Dennis Fogarty, Global Luxury Specialist
Coldwell Banker Global Luxury
550 Fifth Avenue South Naples FL- 34102
P: 239 530 8556