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  • Writer's pictureEd DiMarco MS, MA

Naples, FL Housing Market September 2023: A Data-Driven Analysis by Ed DiMarco


A Comprehensive Look at Key Metrics and What They Mean for Buyers and Sellers


As a seasoned real estate broker and investment specialist based in Naples, FL, I will dissect the numbers that drive our local housing market. Today, I present an intelligent analysis beyond mere statistics; it offers predictive insights into market trends shaping the future of real estate in Naples. For a more detailed breakdown and continuous updates, I invite you to visit my blog at NaplesEd.com/blog. Be sure to download the PDF with all the data tables cited in this article below.


RPR NAPLES FL MARKET OVERVIEW
.pdf
Download PDF • 1.56MB

The Seller's Market Indicator: Months Supply of Inventory


First on our analytical agenda is the "Months Supply of Inventory," which is 3.59 months. This metric serves as a barometer for market equilibrium, quantifying the time it would take to exhaust the current inventory of homes if no new listings were added. A figure below four months typically signals a seller's market, characterized by high demand and escalating property prices. This is a snapshot and a forecast of where the market is headed, indicating a bullish trend for sellers.


The Supply Surge: 12-Month Change in Months of Inventory


Next, we examine the "12-Month Change in Months of Inventory," which has surged by an astonishing 57.46%. This uptick is a harbinger of increased housing supply, attributable to factors such as ramped-up construction or a tempering of buyer demand. This is a golden opportunity for increased negotiating leverage for buyers, as the market is gradually tilting in their favor.


The Velocity of the Market: Median Days Homes are On the Market


We then scrutinize the "Median Days Homes are On the Market," currently clocking in at 40 days. This metric serves as a pulse check on market velocity. A sub-50-day figure indicates a market where properties are being snapped up rapidly, often at premium prices. Conversely, a higher number would signify a stagnant market, affording buyers the luxury of time for due diligence and negotiation.


The Price Point: List to Sold Price Percentage


Shifting gears, we look at the "List to Sold Price Percentage," which is an astounding 99.8%. This ratio is a testament to the market's vigor, indicating that properties sell at near-list prices. This is a clear signal of a market where buyers and sellers find common ground quickly, often at price points that favor the seller.


The Middle Ground: Median Sold Price


Lastly, we dissect the "Median Sold Price," currently pegged at $579,000. This figure is a reliable barometer for gauging the market's price spectrum. For sellers, it's a cue for competitive pricing strategies, while for buyers, it's an invaluable guide to understanding what constitutes a fair market price.


Conclusion: The Market in Flux but Leaning Towards Robustness


My in-depth analysis reveals a market in flux but leaning towards robustness. While the supply has seen a notable increase, offering buyers a more comprehensive selection, the market remains resilient, with properties selling close to their asking prices. But how long can this last? The relatively short median days on the market further underscore the need for both buyers and sellers to act decisively.


For ongoing insights and a deeper dive into these metrics, I encourage you to visit my blog at NaplesEd.com/blog. Thank you for your engagement, and I remain at your service for any further inquiries or assistance in your real estate endeavors.


Ed DiMarco is a real estate broker and investment specialist based in Naples, FL. He specializes in real estate investing and has a Business Management and Communication graduate degree. Visit his website for more insights into the Naples, FL, real estate market.



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