“With over 720 closed sales this summer, the Downing-Frye family is smiling!” said Mike Hughes, Vice President of Downing-Frye Realty, Inc. We now have over 2,200 closings for the first nine months of 2019. It is important to note that as we enter the fall, the local real estate market changes. A significant change is that many people list their properties for sale ahead of our busy winter season, trying to get a jump on potentially competing properties.
Astute buyers realize that they might get an early glimpse of properties for sale prior to the arrival of our winter visitors. Also, many of this fall’s buyers will probably hope to close soon so that they will have a home to come to during the winter months. They like our “winter“ weather!”
NAPLES AREA: SALES STRONG – PRICES STEADY
Closed sales of homes in Collier County increased 7.4 percent in August, but overall inventory fell 17.8 percent to 4,917 properties compared to 5,980 in August 2018. The $300,000 to $500,000 price category led closed sales in August with a 10.1 percent increase followed by closed sales of properties under $300,000, which increased 6.5 percent.
BONITA / ESTERO: PENDING SALES UP 16 PERCENT
August 2019 saw the strongest closed sales in the $1 to $2 million price segment for single-family homes. Jerry Murphy, Managing Broker, Downing-Frye Realty, Bonita Springs, said, “Opportunities for home affordability are greater in Bonita Springs and Estero than some of our surrounding areas, which further encourages year round residents to relocate to the area, as well as new businesses.”