The world is changing. Is Naples, FL?
I was reminded by several people recently that I have not published my monthly analysis of the Naples housing market for May 2022 yet. It’s nice to know that people are reading my blogs and appreciate what I have to say. Heck, an agent the other day even tried to shake me down for my secret to how I pop up as the #3 or #4 Realtor in Naples when he Google’s Naples Realtor. In typical, honest Josh fashion, I almost told him how. Today I am ranking #1 on Google. Maybe it’s the market updates I offer people? What do you think?
There are a lot of ways one can look at the housing statistics in Naples. Different graphs help to illustrate where we are at and where the bright areas lie. On one hand, the orange line above could be rounding off, showing a leveling of the Median Closed Price for ZIP 34102, but it can also be a prelude to a continued spike in prices that will eventually level off twice as high as they are now in 34102, which ended at $1,260,000 for May 2022. Collier County & the Overall Naples Market typically run very close together with Collier County clocking in a little higher in May 2022 with a Median Closed price of $635,000. That is 36.6% higher than the same time 1 year ago. Crazy.
The inventory graph is one of my favorite metrics as it shows the current supply with demand baked right into it. You can see a slight bump up in inventory starting in December 2021, which was a welcomed change from the steady decline each month prior since April 2020. Inventory made another decline in May 2022 suggesting that the Naples housing market has yet to be affected by the world falling apart around us. You know, that old addage that Naples is the last one in a reccession and the first one out. Praise God.
I love writing these market update blogs, I really do. The challenges lie in conveying the information without losing people due to boredom. On the flip side, a writer can still lose people when they go off on tangents and forget the purpose of the message. Boy can I go off on tangents. One of the perks of being married are those long car rides. They provide a great opportunity to perform new jokes and preach my position on, literally, dozens of subjects. I am paid back equally, trust me. Hey, have you seen my beauitful listing on Gulf Shore Dr?
So what does the Naples May 2022 Housing market update say? For me, I see that the cat is out of the bag. Naples is the center of the universe and everyone is starting to realize what an absolute heavenly town we have. Inventory started to decline big time in May 2020. Right around the time freedoms, sanity and logic started declining, people began flooding Naples, FL to buy up property. Since December 2021 we have seen an uptick in inventory as homeowners saw dollar signs, but April & May 2022 brought a significant decline in new listings, and therefore, overall inventory. This tightening of inventory means one thing, continued price increases. It’s not like people are going to wake up and start thinking Naples isn’t the best place to live in America anymore. Lol.
To buy or sell real estate in Naples, Florida. Give me a call.