“September is usually a quiet month – but not this year,” said Mike Hughes, Vice President of Downing-Frye Realty, Inc. “This September our closed sales were up 41 percent over last September, and our pending sales were up an incredible 63 percent – making it one of the best Septembers in the last 20 years. Pending sales in the $1 million+ market were up 78 percent compared to last September. The high-end buyers are not waiting to purchase later in the season. They’re here now (or virtually here) making their picks while there are still choices. (Purchasing earlier helps buyers avoid multiple-offer situations.) And, due to the incredible work of our listing agents, our inventory of available properties increased last month despite having 250 closings. We’ve now closed $162 million in volume for two months in a row.”
Naples Area: Homebuying activity (3,133 closed sales) in Naples during June, July and August exceeded activity reported (2,659 closed sales) for January, February and March, the peak resident season. August had the highest month-over-month increase in overall pending sales in 2020, with a 70.4 percent increase to 1,479 overall pending sales from 868 pending sales in August 2019.
Bonita / Estero: The market is still seeing an influx of buyers from the Northeast and Midwest United States. In comparing August 2020 activity with the previous August: new listings increased by 36.5 percent, pending sales increased by 82.7 percent, and closed sale units by percent. The median closed sales price in August 2020 was $335,500, up 9.8 percent from August 2019.