January is typically a slower month for real estate activity in Naples, FL, and this January was no exception. Closed sales decreased 27.9% from 1,134 in January 2021 to 818 in January 2022, while pending sales decreased 37.9% from 2,210 to 1,373. Despite the declines, it's important to note that days on market continued to decline, and prices continued to appreciate. The market has seen an increase in new listings from December 21, which has resulted in a rise in pending sales. Cash purchases have also been rising, with 63% of all transactions representing such purchases.
January marked the third consecutive month of year-over-year declines in closed and pending sales in the Naples area real estate market. The number of homes sold in January (818) was 27.9% lower than the 1,134 homes sold during January 2021.
In a Seller's Market, don't expect to negotiate price. Homes are being sold at full price or above list price and often without contingencies. I recommend working with a REALTOR® because they have the ability to help a buyer determine whether a home is priced competitively.
Regardless of when the current seller’s market ends, Collier County is running out of land to develop. Buyer demand is not likely to slow down anytime soon because homes in Naples are still much more affordable than homes in other parts of the country like California, New York, and Chicago.
Please let me know if I can help in any way!