Naples February 2022 Housing Market Update

Just how crazy is the Naples housing market?

The numbers are sobering. Naples housing inventory in February 2022 was down 64% from February 2021 in 34102 and down 77% in the Overall Naples Market and Collier County. Couple this with an increase in Median Closed Price of 35% & 38% in Collier County and Overall Naples Market, respectively, and you can see the problem, especially with mortgage interest rates rising a half percent in the last 2 months. 34102’s median price actually went down 16% to $1,096,303, but that ZIP code jumps quite a bit from month to month due to the high price of homes in Port Royal, Aqualane Shores & Royal Harbor.

While the Median Home Price is trending up over the last 3 years, the amount of New Listings per month have remained relatively consistent. Buyers, buyers and more buyers have been driving this market for years. That shouldn’t be a surprise to anyone. Rates have been under 3.5% for almost 2 years and by paying points, you could get well under 3%. Days on market even took a nose dive in January 2021 and are now at 6 days in Collier County and the Naples Overall Market. 34102 is a tad higher at 13. Even the cash buyers are out in force. Will the war in Ukraine make things worse?

Since the Russian invasion of Ukraine, mortgage rates have slumped a little but still remain over 4% for a 30 yr conventional as of the writing of this blog. The Fed is still planning on several rate hikes in 2022 with the first expected at the March 15-16 meeting. While this hike doesn’t directly correlate to mortgage rate hikes, it often has an effect.

 

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About the Author
josh@joshamolsch.com
Since 2012, Josh Amolsch has proven to be relentlessly effective in delivering success and satisfaction to his customers. As a resident of Naples, Josh brings energy, charm and wisdom to the Premiere Plus Realty Luxury International brand.

Josh is a long time musician who has released a few recordings over the last 20 years. He loves hiking in national parks and traveling with his wife, Viktoriya. The bedrock of Josh's character has always been his passion for service and results. With this, Josh has not only found success, but a permanent seat as a student in the practice of real estate.

Consulting real estate consumers and guiding principles through life changing events has been the highlight of Josh's adult life. Josh is an accomplished communicator, and with the unique training he has received from top brokers with over 120 years combined experience, Josh knows how to bring deals together, keep everyone on track, and close successfully while maintaining healthy relationships.