Now is definitely the time to sell – and if you live in Naples, you’ll probably be the only one.
Homes listed for sale nationwide increased by a hefty 4.26% between May and June, according to a new National Housing Trend Report by Realtor.com, as operated by Move, Inc. However, the report shows that Naples is the only city in the country with double digit listing decreases – by a whopping 10.49%.
This is actually somewhat consistent with the national average from June of last year: the number of homes listed for sale was 7.29% higher than it is today.
According to Move, Inc. CEO Steve Burkowitz, the numbers provided by the report are consistent with a positive outlook for the national housing market.
“Sellers are continuing to list homes at a steady pace into late June, which moves us past the traditional home buying season, as mortgage interest rates continue to rise,” said Burkowitz. “These are all signs that the market recovery is continuing at a healthy pace.”
Across the country, cities and counties saw large increases in homes for sale, most notably in California – the Pacific state saw six separate regions hit double digit increases: In Orange County, listed homes went up 51.54%, Los Angeles-Long Beach was up 45.69%, Riverside-San Bernardino increased 44.72%, Ventura was up 43.53%, San Diego saw an 18.14% increase, Bakersfield went up 12.47%, and Oakland saw a 12.14% increase in homes for sale.
According to Redfin, a real estate tracker in 19 major markets, you will see multiple offers in 70% of real estate transactions – but that number is starting to steadily decrease with the rise in homes being listed for sale. In Naples, however, fewer homes to choose from means more offers on the ones that are being sold. No surprise there – one look out the windows of any Naples home and you’ll see why no one wants to leave.