HomeHome InsuranceFewer sales, higher insurance. What is happening?

Fewer sales, higher insurance. What is happening?

Naples home prices keep soaring despite fewer sales and mushrooming inventory, the latest data shows.

Five years ago, the overall median closed price was $335,000. Today, it’s at $625,000, a 5% jump from a year ago, according to Naples Area Board of Realtors or NABOR. Transactions are down more than 9% from that time in 2023 while 67% more abodes are available, reaching above 5,000.

A NABOR analysis found patient buyers are still shelling out big cash if a Collier County house meets their high standards: “In the face of far more inventory and opportunity, home values are holding steady in Naples today. People are being highly selective and will wait until they find the right property.”

Here’s what to know.

1. How many price decreases have occurred?

Even with rising costs, not all Naples homeowners are getting the price they desire, and may want to consider heeding 1968-69 words of the Rolling Stones: “You can’t always get what you want. But if you try sometime, you’ll find you get what you need.”

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