The housing market in Naples, Florida continues to experience soaring prices despite a decrease in sales and an increase in available inventory, according to the latest data from the Naples Area Board of Realtors (NABOR). Over the past five years, the median closed price has risen from $335,000 to $625,000, a 5% increase from the previous year. While transactions have decreased by more than 9% compared to 2023, the number of available homes has seen a significant increase of 67%, surpassing 5,000.
One interesting finding from NABOR’s analysis is that buyers in Collier County are still willing to pay high prices for homes that meet their standards. Despite the abundance of inventory and opportunities, home values have remained steady in Naples. This suggests that buyers are becoming increasingly selective and are willing to wait until they find the perfect property.
In terms of pricing, there has been a shift from aspirational pricing to realistic market pricing. NABOR research indicates that sellers are adjusting their prices to align with market conditions, with 2,264 price decreases recorded in February. The pandemic-induced buying frenzy and skyrocketing price increases of previous years have come to an end, and sellers with overpriced properties run the risk of missing out on attracting buyers.
Interest rates, which had been rising, are now closer to what is considered normal. According to industry publication Bankrate, new homeowners are accepting interest rates of 6.5% or 7%. This is a significant change from the past few years and could contribute to sustaining the demand from buyers in the Naples housing market.
Property insurance rates have also become a major factor influencing homebuyers’ decisions. As home values increase, the replacement cost for insurance also rises. Brokers in the area have noted that coupled with insurance rates, association fees for condominium owners could expand by the end of 2024 due to inspection legislation.
Looking ahead, Florida homeowners are expected to face a 7% increase in insurance rates this year, according to projections by Insurify. The state already has insurance rates that are more than four times the national average. With an anticipated hyperactive Atlantic basin in 2024, including the possibility of a record-breaking number of named storms, insurance costs may rise even further.
Despite these challenges, there has been a significant increase in the number of properties under $300,000 in Naples. The NABOR report shows a 103.4% leap in this price range, which could be attributed to investors offloading rental properties during the winter selling season and the rising carrying costs of these properties in recent years.
The Naples housing market is experiencing a shift in prices and buyer behavior. While prices continue to rise, some sellers are adjusting their expectations, and buyers are becoming more selective. Factors such as interest rates and insurance costs are also influencing the market. As the market continues to evolve, it will be interesting to see how these factors shape the future of the Naples housing market.
位于佛罗里达州的那不勒斯住房市场在销售下降和可用库存增加的情况下，房价持续上涨。根据佛罗里达那不勒斯地区房地产经纪人协会（NABOR）的最新数据，过去五年里，中位封盘价从33.5万美元上涨至62.5万美元，比去年增长了5%。虽然与2023年相比交易量下降了9%以上，但可供选择的房屋数量大幅增加了67%，超过5000套。
NABOR分析中一个有趣的发现是，在科利尔县，买家们仍然愿意为符合他们标准的房屋支付高昂的价格。尽管有大量的库存和机会，那不勒斯的房价保持稳定。这表明买家们变得越来越挑剔，愿意等待找到完美的房产。
在定价方面，从理想化定价转为现实市场定价。NABOR的研究表明，卖家正在根据市场状况调整价格，2月份记录了2264次降价。过去几年的疫情引发的购买狂潮和价格飙升已经结束，价格过高的房产卖家面临错失吸引买家的风险。
利率曾经上涨，现在接近正常水平。根据行业刊物Bankrate的数据，新房屋买家接受6.5%或7%的利率。这与过去几年相比是一个显著变化，可能有助于维持那不勒斯住房市场的需求。
保险费率也成为影响购房者决策的重要因素。随着房价上涨，保险的替换成本也在上升。该地区的经纪人指出，加上保险费率，由于检查立法的原因，公寓业主的协会费用预计将在2024年年底增加。
展望未来，根据Insurify的预测，佛罗里达州的房主今年的保险费率预计将上涨7%。该州的保险费率已经是全国平均水平的四倍多。随着2024年大西洋地区可能出现的超活跃飓风季到来，包括可能创纪录的命名风暴数量，保险成本可能进一步上升。
尽管面临这些挑战，那不勒斯在30万美元以下房产数量明显增加。NABOR的报告显示，这个价格范围内的房产增长了103.4%，这可能是租赁房产在冬季销售季节和近年来这些房产运营成本上升导致的投资者卖出的结果。
那不勒斯住房市场的价格和买家行为正在发生变化。尽管价格持续上涨，一些卖家正在调整期望值，买家们变得更加挑剔。利率和保险费用等因素也正在影响市场。随着市场的不断发展，这些因素将如何塑造那不勒斯住房市场的未来将会很有意思。
Key terms/definitions:
1. Naples Area Board of Realtors (NABOR) – 那不勒斯地区房地产经纪人协会，提供房地产领域相关信息和数据。
2. Median closed price – 中位封盘价，指房屋销售的中间价位，将所有销售房产的价格按照大小排列后，中间那个价格就是中位封盘价。
3. Transaction – 交易量，指购买或销售的房地产数量。
4. Aspirational pricing – 理想化定价，指卖家出售房屋时给出的高于市场实际价格的价格。
5. Realistic market pricing – 现实市场定价，指卖家根据市场实际情况调整的房屋价格，更符合市场价值。
6. Interest rates – 利率，指房屋贷款的利率，影响购房者的贷款成本。
7. Property insurance rates – 房产保险费率，指购买房屋保险所需支付的费用。
8. Replacement cost – 替换成本，指保险公司在房屋损坏或丧失时所支付的赔偿金额，通常与房屋价值相关。
9. Carrying costs – 运营成本，指持有房产所需支付的费用，例如维修、保养和管理费用。
Suggested related link:
Naples Area Board of Realtors