“Realtors are optimistic that this is going to be another solid year for sales,” said Mike Hughes, General Manager for Downing-Frye Realty, Inc. “Retiring Baby Boomers are arriving, and our tourism numbers were up in 2018. We are ready for them with a solid inventory of over 1,000 available properties that offer buyers an array of options. Our listing inventory has been consistently strong. As soon as one property is listed, another is sold, which indicates the continued desirability of southwest Florida. Last month, we launched our new Bonita Springs office location, and it’s been well-received. We’re in a good position to close another Billion-plus in sales this year.”
The Naples area housing market ended 2018 with impressive annual activity statistics in all areas of the residential real estate market including an 11 percent increase in total closed sales and a 14 percent increase in inventory compared to 2017. Sales of homes over $1 million continued to drive the market in 2018, especially in the condominium market where closed sales of condominiums over $1 million increased 37 percent!