NAPLES NO. 2 FASTEST GROWING LUXURY MARKET
The Collier County area, specifically Naples, was ranked No. 2 in the Top 10 Fastest Growing Luxury Markets, according to the Realtor.com June 2018 Luxury Home Index released on July 12. The index analyzes the entry-level luxury price tier, defined as the top 5 percent of all residential sales, in 91 U.S. counties. In Naples, the luxury sale price (top 5 percent of sales) has topped $1.674 million, with a 15.9 percent increase over last year, the report shows. The Naples area came behind Sarasota County in Sarasota, where the luxury sales price was defined as $1 million, with a 19.7 percent increase over last year.
NAPLES LUXURY HOME SALES LEAD TO STRONG Q2 FINISH
Activity in the Naples area housing market during the second quarter of 2018 remained steady compared with activity during the second quarter of 2017, according to the 2Q 2018 Market Report released by the Naples Area Board of REALTORS (NABOR), which tracks home listings and sales within Collier County (excluding Marco Island). Overall closed sales increased 2 percent to 2,926 properties in the second quarter of 2018, from 2,880 in the second quarter of 2017. In the $2 million and above single-family home market, closed sales rose 25 percent in the second quarter of 2018, which—along with other market indicators—leads many broker analysts to believe that interest in luxury homes will remain in high demand, the report states.
Housing Activity in May Yields Solid Market
Release Date: Friday, June 15, 2018
- Overall Pending Sales increased 23% in the $2M+ category 12-months ending 5/2018
- Overall Closed Sales increased over 23% in the $1M-$2M category 12-months ending 5/2018
- Overall Median Closed Price increased 5% 12-months ending 5/2018
- Overall Inventory remained neutral May 2017 over May 2018
- Overall Average DOM decreased 1% 2017 over May 2018