• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
Southwest Florida Real Estate home
(239) 261-2244 | Login / Register
  • Our Agents
  • Search
    • Search All Listings
    • Featured Listings
    • New Listing Alerts
  • SW Florida Market
  • About
    • Contact
    • About Us
    • Our Agents
    • Leadership Team
    • Join Our Team
    • Testimonials
  • Home
  • Search
    • Search All Listings
    • Featured Listings
    • New Listing Alerts
  • SW Florida Market
  • Buyers
  • Sellers
  • DF News
  • About
    • Contact
    • About Us
    • Our Agents
    • Leadership Team
    • Join Our Team
    • Testimonials
  • Contact

July Market Report Shows Sellers and Buyers Adjusting to a New Normal

August 23, 2021 by Cyndee Woolley

Naples, FL (August 20, 2021) – The buying frenzy the Naples housing market experienced during the past year has simmered and is being replaced with what brokers say will be our new normal: a low inventory market with a fast turnover of quality homes priced right. According to the July 2021 Market Report released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), inventory decreased 77.2 percent to 1,295 homes in July 2021 compared to 5,672 homes in July 2020, but demand continues to be steady as there were only 30 fewer closed sales and just a 2 percent drop in showings.

The median closed price in July increased 28.8 percent to $469,950 from $365,000 in July 2020. The median price is the price at which 50 percent of the homes sold were above that price, and 50 percent were below.

As this new reality sets in, clues that buyers and sellers are adapting to a new normal can be found in recent Market Reports. “The percent of list price received has been over 99 percent for the last three months,” said Mike Hughes, Vice President and General Manager for Downing-Frye Realty, Inc. “This shows us that sellers are setting realistic prices and buyers are accepting these values as fair because offers are at near asking prices.”

Even though overall pending sales in July dropped 21.5 percent to 1,135 pending sales from 1,446 pending sales in July 2020, and overall closed sales dropped 2.6 percent to 1,142 closed sales from 1,172 closed sales in July 2020, activity in the high-end luxury home market picked up speed during the month as reflected in a 32.6 percent increase in closed sales for homes over $1 million, and a 17.1 percent increase in pending sales for single-family homes valued over $1 million in July.

Brokers reviewing the July Market Report agree the old way of buying and selling a home in Naples is now obsolete. “Buyers shouldn’t waste their time driving around to find homes for sale in a particular neighborhood or wait to look at listings in the Sunday classifieds,” said Hughes, “because that is just a small percentage of the available inventory in the Naples area. Many of these homes are probably already under contract.”

Homes are selling at record-fast rates. The July Market Report showed days on market decreased 69.6 percent to 28 days from 92 days in July 2020. For single-family homes, days on market dropped to 25 days in July. Homes are available but they are just not staying on the market long, especially quality homes that are priced right.

If you are looking to buy a home in Naples be prepared to move fast. Partner with a Naples REALTOR® who understands the new normal of the Naples real estate market. They know how to navigate in our fast-moving market, are closely monitoring the Southwest Florida MLS, and can quickly alert buyers of new listings. A Naples REALTOR® has also nurtured working relationships with agents at other brokerages who may inform them of new listings just placed on the Southwest Florida MLS, and are skilled at negotiating the best price before a property is sold.

Naples is in a seller’s market as there is more demand than there is supply. Now is the time for sellers to seize this unique opportunity. The July Market Report data shows that your house will likely sell quickly, you will receive close to your list price, and there is a 50 percent chance it will be a cash buyer who can close faster than someone who needs to finance the purchase.

About NABOR
The Naples Area Board of REALTORS® (NABOR®) is an established organization (Chartered in 1949) whose members have a positive and progressive impact on the Naples community. NABOR® is a local board of REALTORS® and real estate professionals with a legacy of over 60 years serving 7,000 plus members. NABOR® is a member of Florida Realtors® and the National Association of REALTORS®, which is the largest association in the United States with more than 1.5 million members and over 1,200 local boards of REALTORS® nationwide. NABOR® is structured to provide programs and services to its membership through various committees and the NABOR® Board of Directors, all of whose members are non-paid volunteers.

The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.

Filed Under: Market Reports Tagged With: Downing-Frye Realty, Florida, Market Report, Mike Hughes, NABOR, Naples, Southwest Florida Real Estate

Primary Sidebar

Agent Name

Area SpecialistsDowning-Frye Realty, Inc.

(239) 261-2244 (800) 448-3411 Contact Us
Listing Alerts Market Reports Your Home's Value

Testimonials

"Best Real Estate Company in SWFL! " view testimonials
- Larry Brammer
View All

Get In Touch

Name(Required)

Let us know which areas you are interested in:

Market
This field is for validation purposes and should be left unchanged.
End of Modal

Contact Details

Questions about the market? Wondering what your home is worth? We're here for all your real estate needs, just a message away!

Downing-Frye Realty, Inc.
(239) 261-2244 Main Number
(800) 448-3411 Toll Free
Email

Downing-Frye Realty, Inc.
8950 Fontana Del Sol Way Suite 100
Naples, FL 34109

Get In Touch

This field is for validation purposes and should be left unchanged.
End of Modal

Contact UsWork With a Local Expert

Whether you are buying or selling, your real estate needs are unique to you. As your local real estate expert we are here to be your guide. Contact us today - we're here to help.

Contact Us

Footer

Downing-Frye Realty, Inc. Southwest Florida Real Estate

(239) 261-2244|8950 Fontana Del Sol Way Suite 100, Naples, FL 34109 |Contact Us
company logo

CQ274485   •   sitemap   •   privacy policy   •   admin   •   ©2025 All Rights Reserved  •  Real Estate Website Design opens in new window by IDXCentral.com