As recently reported in the Naples Area Board of REALTORS® real estate activity update, the overall inventory of homes in Naples has increased 37.3 percent in September 2024 to 4,288 properties for sale from 3,123 properties in September 2023, which benefits home buyers.
According to the September 2024 Market Report, which tracks home listings and sales within Collier County (excluding Marco Island), the rise in inventory was met with increased buyer interest as indicated by *pending sales (*sales under contract) during September, which increased 1 percent to 622 pending sales from 619 pending sales in September 2023. Any increase in pending sales, even a small percentage is a promising sign. I’ve always believed that tracking the pending sales each month is the best barometer in judging the market overall. Closed sales were down 13%, not unusual just before an election…there is still a lot of speculation on how the results will effect real estate. One thing is certain, Florida will still attract snowbirds, retirees and transplants.
“Broker analysts reviewing the September report are confident more sellers will enter the market in the coming months in anticipation of a visitor increase during the winter. Pre-season buyers are encouraged to take advantage of the increased property selections available before competition heats up!”
Also, for those seeking a mortgage, the Feds have lowered the interest rates again this week for the 2nd time in three months. The rate is down 75 basis points from where it was on September 1st. While this is not the best news for “savers” this is generally welcome news for borrowers needing financing. Interest rates surged in 2023, reaching the highest level since 2000.
Please call The NaplesRealEstate.com Team with any questions you might have about a particular area or neighborhood. 1-239-370-0574 We are here to help anyway we can with all your real estate needs!
My Best,
The Naples Real Estate Blogger
