The housing market is always fun to watch, and in Naples, FL, it has been attracting a lot of attention recently.
For over two years now, the Naples Median Home Sales price has been on a steady upward trajectory. The first week of every month is when new numbers get released from local Multiple Listing Service’s to show just how much home prices have risen, or fallen, the previous month. Looking at March 2022, the median closed sales price in Collier County rose 6.8% from February 2022 and 37.3% from one year ago. Homes in the highly coveted 34102 ZIP code rose 30% over Feb 2022. Can you see the upward movement of prices in the graph below?
Inventory has been a buzzword for the last decade and it is still a sticking point today. “Why can’t they just build more houses?!” you say? I hear you. It almost makes you think that the powers that be have planned to spike the housing market. No matter how dumb we may think certain politicians are, they aren’t. I don’t believe in political or economic accidents. Well, OK, hurricanes and tornadoes cause economic disruptions. So maybe we can just call the current political environment a natural disaster? Check out the Inventory graph below. I would say that is a disaster brought on by poor foresight.
Another one of my favorite metrics is the “Days on Market” graphs. Keep in mind that all of these graphs are for all properties, big and small, entry level and top of the line. The graph below shows that in the month of March 2022, the median days on market in ZIP 34102 was 8, while Collier County and the Overall Naples Market was 6 & 5, respectively. We have been at or near those numbers since June 2021. New normal, I guess. By the way, who else doesn’t like the term “New Normal”? I know I don’t. I like the word “normal” because “normal” doesn’t change much, it is just normal. “Normal” is familiar, good or bad. But even better than “normal” is “true”. “True” is reliable and trustworthy. Let’s be “true” to one another.
The last graph here is the New Listings graph. You can see the new listings in 34102 are just as low as they have been for a year while new listings in Collier County are growing. Collier County is big, though. Lots of space, and lots of traffic to get into town where most of us want to be. Near the ocean. Ah, imagine living within a short walk or bike ride to the Gulf of Mexico and 5th Ave. Oh wait, you can if you buy my new listing! If you haven’t toured Naples Square, you need to! My new listing will meet all of your expectations to the tune of writing an offer right there on the spot. Make sure and check it out right away and then maybe you can contribute to next month’s Naples Housing Market Update.
The last graph here is the New Listings graph. You can see the new listings in 34102 are just as low as they have been for a year while new listings in Collier County are growing. Collier County is big, though. Lots of space, and lots of traffic to get into town where most of us want to be. Near the ocean. Ah, imagine living within a short walk or bike ride to the Gulf of Mexico and 5th Ave. Oh wait, you can if you buy my new listing! If you haven’t toured Naples Square, you need to! My new listing will meet all of your expectations to the tune of writing an offer right there on the spot. Make sure and check it out right away and then maybe you can contribute to next month’s Naples Housing Market Update.
