“‘Tis the season!” said Mike Hughes, Vice President of Downing-Frye Realty, Inc. “Our annual influx of snowbirds arrived earlier this year. We had another $100+ million in pending sales during November, and our closed sales volume for the year has already surpassed $1.35 billion. Beyond the typical uncertainty of end-of-the-year stock market news comes the added uncertainty of where the political winds will take us, but one thing remains solid – and that is the potential of real estate investment in Southwest Florida.
“Our agents have compiled an inventory of over 1,000 listings across the price spectrum, giving buyers opportunities to share in our unique real estate market. My advice? Let it snow! And come on down!”
NAPLES AREA PENDING SALES SOAR: Buyer activity rose in October with a remarkable 23.7 percent increase in overall pending sales (homes under contract) to 987 pending sales during October 2019 compared to 798 pending sales in October 2018. Closed sales during October increased 9.7 percent to 756 closed sales compared to 689 closed sales in October 2018.
BONITA / ESTERO BUYER DEMAND CONTINUES: Pending sales increased again in October by 12.1 percent compared to last October. As a result, closed sales reflected a 7.9 percent increase for October 2019. While pending and closed sales increased over the last year, the available inventory decreased by 18.3 percent (1,412 active listings as of October 31, 2019), representing a 5.1-month supply.