2018 Season is Upon Us

Season 2018 is upon us and I think it is safe to say most everyone is back in town. Naples as a whole is open for business and with just a few exceptions, most major repairs have been completed. As we look back to 2017 real estate activity throughout Naples we see some encouraging activity even with the challenges of the past year. Naples overall saw a 4% increase in closed sales with a 5% bump in single family home sales and a 2% increase in multi-family homes. Naples also saw inventory decrease 8% followed by a 17% increase in average days on market year over year.

Lely Resort seemed to be anything but average when it comes to this past year’s resales activity. Across the resort total sales rose 24% to hit 243 closed resales compared to 196 closed resales in 2016. That breaks down to a 30% increase in single family home sales and a 20% increase in multi-family home sales. We had a decrease in active listings on the market at the start of the year of 15% (190 on 1/1/2018) fewer homes actively listed on MLS as compared to the beginning of 2017, but active listings jumped back up to 220 resales by the end of January 2018. And once again showing we are anything but average, the resort’s days on market increased 36% year over year.