“March was a huge month for high end pending sales,” said Mike Hughes, General Manager for Downing-Frye Realty, Inc. “We had 61 pending sales contracts above $1,000,000 and a sales volume for March of over $264,000,000. That is a 14% increase in volume over last March with slightly less pending sales contracts. We had 393 pending sales contracts this March compared to 402 last March. The high end market has shown great momentum over the last month. It’s been a solid winter season so far. Now we’re coming into a busy period where a lot of decisions will be made prior to winter visitors going back home.”
Naples Area: Buyers Have More Options
Sales of homes in Naples are very geographically influenced. Historically, the closer a property was to the beach, the faster it would sell. But that’s not always the case anymore. Days on market were the lowest in the South Naples area (34112, 34113) in February; yet prices for single-family homes in this geographic area decreased 25% to $420,000 in February 2019 from $560,000 in February 2018. The average days on market in February 2019 was 102 days.