Naples Real Estate Market Update – July-2016Quiet Days of Summer
Posted on August 24, 2016
The July Naples real estate market update shows that we are experiencing the traditional summer slow down in pending and closed sales. This pause is a familiar expectation, due to a majority of second home buyers retreating to their Northern homes during the summer months.
The inventory increase to 4,801 homes for sale, along with many options available in new construction is welcome news to home buyers following record-low inventory levels last summer.
Home prices remain stable, with only a slight increase in median sales price over the past 12 months.
Many of our local experts predict that sales will substantially increase after the election is determined. Either way, uncertainty is what typically makes an election year a slower year for home sales.