“There continues to be high demand for living in Southwest Florida,” said Mike Hughes, Vice President of Downing-Frye Realty, Inc. “Pending sales increased in May and the market is slowly coming back to life. Our inventory remains stronger than ever. At the beginning of 2020, we had 1,006 listings and at the end of May we had 1,026 listings. During that same time period we had 1,093 sales. In May we had 202 pending sales for $111 million, 34 percent higher than April’s total of 151 pending sales for $80 million. Every price category performed better in May than in April, including properties above $1 million. There is pent-up demand for living here, and those looking at properties during this particular time are very serious buyers.”
Naples Area: Home values remain intact. Median closed prices increased 0.3 percent in April to $340,000 from $339,000 in April 2019.
Bonita / Estero: Area brokers are still seeing low inventory numbers, and they also report out-of-town buyers are taking advantage of virtual showings with great feedback from clients. In April 2020 the median closed sales price was up 10 percent from April 2019 to $329,950, while the times to sell a property decreased from an average of 93 days to 71 days.