“August surprised me,” said Mike Hughes, Vice President of Downing-Frye Realty, Inc. “Our closed sales volume for August 2019 was $107 million compared to $85 million in August 2018. We had 241 closings in August 2019 compared to 169 for August 2018.
”Pending sales during August were another story, down a little compared to recent years. I believe that last year’s red tide still has residual effects, even a year later with respect to summer visitors returning. Our listing inventory remains strong with Downing-Frye holding almost a thousand listings in the area.”
NAPLES AREA: July’s closed sales increased 7.1 percent to 829 closed sales compared to 774 closed sales during July 2018. On average, a home for sale in Collier County is shown 17 times before it sells. Broker analysts believe the less inventory people have available to view, the more properties they want to see.
Closed sales activity was the highest in the Naples Beach area (34102, 34103, 34108), a 25 percent increase in overall closed sales and a 40 percent increase in single-family home closed sales compared to July 2018.
BONITA / ESTERO: Inventory levels in the Bonita Springs and Estero market have continued to decrease over the last three years. While shortages traditionally drive up home prices, that’s not the case in this market, with properties that have remained consistently priced at market value. Closed sales of condominiums in July 2019 steadily increased across all price points compared to July 2018. This trend is expected to continue.
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