Naples Florida Real Estate Market
                     NAPLES REAL ESTAE
http://buysellnaplesrealestate.com/
Mike and Anna Bryant
Estate agent in Naples, Florida
Naples Florida Real Estate Market
Local residents quickly addressed property damage and the evidence that 
a hurricane hit the Naples area in September became less visible in 
October.  As we saw, Collier county and utility service providers worked 
overtime to get everyone back on track as quickly as possible. The Naples 
area housing market finished on a positive note in October with closed 
sales increasing 1 percent over last October,  October’s housing market 
activity was better than expected.
There was no historical precedent for how the Naples real estate market 
would react after a hurricane.  There were some areas that had really 
good activity but overall pending sales decreased 11 percent in October 
alone, most likely due to hurricane damage that couldn’t be rectified in 
time for closings.
There were 57 closed sales of high-end, luxury properties priced above $1 
million in October, a 36 percent increase over last year. Yet closed sales of 
properties priced below $300,000 dropped 12 percent, a loss of just 32 
sales compared to October 2016. Also reflected in the October report, 
closed sales for single-family homes priced between $1-$2 million 
increased 50 percent in October, while closed sales of condominiums 
priced between $300,000-$500,000 increased 26 percent.
There’s been a decrease in inventory as evidenced by the October report 
showing an 8 percent decrease which works out to about 400 fewer 
homes available compared to October 2016 levels.
It’s a great time to be in the trades or construction.  Roofing companies 
and carpenters are booked several months out which is going to create a 
higher demand for inventory moving into season as fewer homes will be 
available and move in ready than normal.
Inventory increased on the high and low end of the condominium market 
in October. While the report showed no increase or decrease in inventory 
overall, there were an additional 76 condominiums (a 7 percent increase) 
added to the $300,000 and below market in October, and 10 
condominiums (a 10 percent increase) were added to the $2 million and 
above market.
Prices are definitely going up in the SW Florida real estate market.  
Median closed prices in the single-family home market increased to 
$425,000 (13 percent) in October, while median closed prices in the 
condominium market increased to $250,000 (4 percent). Interestingly, the 
median closed price for condominiums in the $2 million and above price 
category dropped 42 percent in October to $2,545,000, while the median 
closed price for single-family homes in the same price category increased 
22 percent to $2,237,000.
Geographically, there was a decrease in median closed prices for 
condominiums in all areas except North Naples in October.  North 
Naples Florida remains one of the top spots for buyer demand.
There’s been a loss of inventory in the under $300,000 market but for 
a good reason.  Some of those homes are now “bracket creeping” and 
moving into the $300,000-$500,000 price category.  That is creating 
even greater demand for Naples Florida homes under $300,000 where 
traditionally demand has always been higher.
According to some local experts, if the hurricane hadn’t happened and 
the market had kept the same pace as it did last September and 
October, we would have seen 400 more sales and been on track for a 6 
percent increase in total closed sales year-to-date.
We hope our Naples Florida real estate market report has been 
informative.  We’d love to help you with your next real estate purchase 
or sale.  Give us a call at 239.293.0246; we always answer the phone.
Contact Us
Serving Naples FL home buyers & sellers for over 24 years.
Mike & Anna Bryant
 NAPLES REAL ESTATE
Address::  -
180  9th  St,,  Ste  300  ,,  Naples,,  FL  34102,,  USA
Email  ID::-  
[email protected]  
Phone  No::  -
239-293-0246  
Website::-  http:://buysellnaplesrealestate..com/
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