Sales Recap

Summer has been a great time over the years to take note of sales performance during the slow rainy days of summer and adjust course for the coming selling season. Home sales for the first half of the year here at the resort have shown a nice increase over 2016 with a 23% increase in closed sales. Resales topped $79,000,000 in the first seven months of the year for a modest increase of overall sales volume year over year. While we have seen solid sales performance over the previous months, sellers have also seen a significant increase of the days on market before properties receive an accepted offer to sell this year. Across Naples, realtors noted hesitancy to move forward with offers by many buyers, which is partially responsible for the extended days on market of homes for sale. I believe there are multiple reasons for this reluctance on the part of buyers and perhaps the biggest factor is the increase in housing options across southeast Collier County. Buyers looking for homes in the area have seven and soon eight new home communities offering coach homes, attached villas and single family homes with prices ranging from the $300’s to well over $1,000,000. These communities will remain a factor for sellers of existing homes to consider moving forward.