“Our real estate market is recovering at an amazing pace,” said Mike Hughes, Vice President of Downing-Frye Realty, Inc. “This has actually been the best October in six years, plus we’ve had 5 straight months of more closings than the month before. October’s closings were up 43 percent over last October and our pending sales were up 32 percent. Our year-to-date closed sales volume has already surpassed last year’s figure at this same time by more than $100,000 million. What has helped propel this market is that the high-end buyers who weren’t able to be here last winter have now arrived early this fall, resulting in a whopping 67 percent increase in sales over $1 million during this October compared to last. November is already off to a good start with 22 pending sales recorded on the first day of the month.”
Naples Area: Comparing September 2020 with September 2019: Closed sales increased 52.9 percent to 1,096 from 717 closed sales in September 2019. Pending sales activity also increased a whopping 83.4 percent to 1,509 pending sales from 823 last September. Median closed prices increased 18.2 percent to $384,000 from $325,000.
Bonita / Estero:Closed sales in Bonita Springs and Estero increased in September 2020 by a notable 42.6 percent versus September 2019. Long timelines and rising costs for new construction have prompted many buyers to consider resale properties located in older, established neighborhoods. Low interest rates mean that buyers can get more house for their money.
Download the full Downing-Frye November 2020 Real Estate Market Update newsletter (pdf).