Buyers eager for more home choices were treated to an increase in new listings during April. According to the April 2021 Market Report, released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), there were 1,460 new listings added to the pool of homes for sale in Naples during April. This was a 106.2 percent increase in new listings compared to new listings added during April 2020. However, and as broker analysts reviewing the report were quick to point out, evaluating market conditions using month-over-month market data will not produce equitable comparisons for the next few months because the real estate industry, like virtually all businesses, experienced reduced productivity levels as a result of mandatory COVID-19 restrictions.
 
 
Since January, the Naples area housing market has enjoyed a 14.3 percent increase in new listings compared to new listings during the same time period in 2020. Some buyers who haven’t found their ideal home yet might think, ‘There’s nothing left to see, but new listings are hitting the market everyday so they shouldn’t give up searching for a home.
 
 
 
Buyer demand in April took another bite on our inventory. April had 2,037 pending sales (homes under contract) and 1,882 closed sales, which resulted in 1,432 homes remaining in inventory by the end of the month. Not surprising, and because of increased demand for the Naples lifestyle, the 8-month supply of homes in April 2020 was reduced to a 1.1-month supply of homes at the end of April 2021. This substantial loss of inventory is attributed to post-pandemic relocation buying behaviors, a new reality in many Florida communities.
 
The median closed price in April increased 30.9 percent to $445,000 from $340,000 in April 2020.Pricing is not an issue with most buyers. What we are dealing with today is a market of real end-users, not investors or ‘speculative flippers’ like what we saw in 2005/2006. People are not willing to buy anything just to get into a home right now. 
 
The number of new listings is going up and they are selling fast because demand is simply outpacing the inventory replenishment. The rise in homeowners’ equity during this hot market means everyone who bought a home in the last five or six years is in a good position to make a profit if they choose to sell now.
 
The NABOR® April 2021 Market Reports provide 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: 
 
Historically, new construction sales accounted for 25 percent of all home sales in Naples. But raw material shortages are forcing many local builders to require escalation clauses or press pause on future sales as it is becoming increasingly difficult for them to determine market prices a year from now.
 
 
While overall closed sales continued to climb across all neighborhoods in Naples during April, closed sales in the $1 million and $2 million and above price categories outperformed all other lower priced home categories tracked by NABOR®. Traditionally, our seven-figure sales begin to level off after Easter. But today they remain strong. Whether it’s a single-family home over $1 million or a condominium over $2 million, the luxury market is still very much on fire.
 
If you are looking to sell a home in Naples, contact a IZABELA WRIGHT full time Naples  REALTOR® who has the ability to provide an accurate market comparison, manage showings to the right audience, evaluate the use of contingencies, and help you negotiate during a multiple offer process. We can ensure your next purchase or sale in the Naples area is a success. Search for your dream home on www.gohomenaples.com


Izabela Wright 239-777-8583