What happened to the Naples FL real estate market in Aug 2019?
The Naples FL Real Estate Market Update Report for August 2019
Are you curious about the Naples FL real estate market?
Mortgage rates are dropping, is this a good time to buy my first home?
Should I sell my home in Naples now?
Here is some insight into the current Naples real estate market for Aug 2019.
August home closings were higher than last year in Naples!
Naples Florida August 2019 home sales were strong with 796 closings verse 741 the same period last year.
That is an increase of 7.4%!
Closed home sales under $500,00 were the fastest moving with 10% sold this August over last August.
How about home inventory levels in Naples FL?
Inventory levels in the Naples real estate market for August 2019 are down 17% from of a year ago, there are only 6 months of supply currently. This follows our seasonal flow. More homes will come on the market in October and November.
Overall Median Home Prices in Naples FL
The August 2019 overall median closed price was $317,918 a decreased of .2 percent compared to August 2018.
The single-family home median closed price decreased 1.5 percent in August, while the condominium market median closed price decreased 2 percent.
Houses priced under $1 million dollars far out sold homes over $1 million dollars.
What does all this mean?
Given the overall balance between supply and demand, opportunities exist for both buyers and sellers. Buyers, currently, have more options than in recent years. Interest rates are falling, making it more affordable for first time home buyers to enter the market. This will help to sell more homes, especially under the $1 million dolllar range. Moreover, sellers, if their homes are priced competitively, should be able to sell in a reasonable timeframe at a price in line with recent closed sales.
Read the complete Naples Real Estate Report, provided by John R Wood Properties.
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