Naples Housing Market Remains Strong!

Naples Housing Market Remains Strong!

Naples, Fla. (October 19, 2018) – One year after Hurricane Irma, overall closed sales in Naples increased 62
percent to 644 homes in September of 2018 compared to 398 closed sales of homes in September of 2017.
According to broker analysts, this impressive increase in month over month sales is a result of the effect of the
hurricane when homes sales halted following the massive storm.

“The September Market Report shows how resilient and desirable our market is,” said Lauren U. Melo, PA,
Licensed Real Estate Broker with Florida’s Realty Specialists. “A three percent increase in pending and closed
sales, year over year, is strong considering the reduced sales activity during the troubled period following the
hurricane. This was when many sellers were making repairs caused by the hurricane. The September statistics
show that our market is in a good position to see positive activity for the fourth quarter.”

Overall pending sales in the third quarter are up 20 percent, closed sales are up 13 percent, the median closed
price is up 3 percent, inventory is up 4 percent, and the days on market decreased 1 percent; all indicators that
the third quarter real estate market in Naples remains strong. Luxury properties are driving the market in the third quarter. Third quarter pending sales in the $1 million to $2 million price category are up 18 percent and in the $2 million+ category they are up 50 percent compared to the pending sales in the third quarter
of 2017.

According to the 3Q 2018 Market Report released by the Naples Area Board of REALTORS® (NABOR®),
which tracks home listings and sales within Collier County (excluding Marco Island), closed sales of homes
between $300,000 and $500,000 increased at a higher rate (24 percent) than other price categories during the
third quarter. Sales of homes between $1 million and $2 million increased 18 percent to 122 homes for the third
quarter of 2018 from 103 homes for the third quarter of 2017. Overall closed sales in the $2 million price
category increased 20 percent in the third quarter of 2018 to 79 properties from 66 properties sold in the third
quarter of 2017.

Most remarkable in the 3QMarket Report was the strong activity in the condominium market where pending sales increased 21 percent and closed sales increased 20 percent compared to the third quarter of 2017. The single-family home market also saw a strong increase in overall pending sales activity which was up 20 percent and its closed sales activity was up 6 percent.



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