October posted a 54.5% year-over-year increase!!!!!

Closed sales in Southwest Florida continue to gain momentum. After August and September posted respective 28.5% and 48.7% year-over-year increases, October posted a 54.5% year-over-year increase. The 3,108 sales posted for October 2020 was the highest number of closed sales posted for any single month in at least the past ten years. As monthly sales have continued to increase their lead over last year, so too have year-to-date sales. As of September 30, year-to-date closed sales were ahead of 2019 by 5.6%. By October 31, that lead had grown to 9.9%. A notable comeback after, as of May 31, year-to-date sales had fallen behind last year by 8% due to travel and stay-at-home restrictions. Following suit are 12-month rolling closed sales which, as of October 31, posted an 11.4% lead over the preceding 12-month period, up from an 8% lead posted at the end of September. Sales for November are off to a strong start, as well. Month-to-date closed sales through November 18 posted a 44% lead over 2019.

As of October 31, there were 7,588 listings on the market, down 41.2% from January when there were 12,901 listings. Months of supply was 3.1 months as of October 31, down 45% from January when 5.6 months was posted. Listing inventory in most areas is in short supply, creating opportunity for sellers who have waited to enter the market. If history holds true, the pace of new listings should increase in November and again in January. With current historically low inventory levels, and a record number of sales occurring at this time, right now could be an opportune time for sellers to enter the market. #NaplesFL #BlairWhiteProperties #JohnRWoodProperties #MarketReport #Sellers #RealEstate