“We saw an uptick in real estate activity at the end of 2019,” said Mike Hughes, Vice President of Downing-Frye Realty, Inc. “We closed the year with over 1,000 listings, which represents a significant portion of the local inventory. We also, for the second year in a row, had over 3,000 pending sales during the year. Although the 2019 closed transactions and closed sales volume was slightly below what we saw in the previous year, 2019 overall was another strong year for Downing-Frye real estate activity with a closed sales volume of $1,455,452,242 and a high average closed sales price of $518,877. With a sales team of 500+ agents, we are poised for another good year. I’m excited!”
NAPLES AREA: An increase in traffic on roads, beaches, in restaurants, hotels, and at open houses during November resulted in a 27 percent increase in overall pending sales (homes under contract), and a 46 percent increase in showings for the month compared to November 2018, and also contributed to the depletion of inventory, which decreased 19.4 percent in November to 5,563 properties compared to 6,896 properties in November 2018.
BONITA / ESTERO BUYER: Lower inventory levels has been the trend for several months and continuing into 2020. Area brokers urge homeowners to list now because year-end pending sales are increasing, and lower inventory levels could pose a challenge for some buyers in early 2020. Realtor.com reported over 10.5 million listing search result page views in Bonita Springs and Estero for November 2019. Area brokers anticipate a busy winter selling season.