Available inventory at the end of the 2Q of 2018 was 5,165 properties, just 24 units behind the inventory level at the end of the 2Q of 2017 (5,189 properties). "This tells me that homes are coming onto the market at the same rate we are selling them," said a local broker.
 
Inventory rose 15 percent in the $2 million and above condominium market during the 2Q of 2018, which may be a factor in the uptick of pending sales in the luxury condominium market as it rose 32 percent during the 2Q of 2018.
 
"Inventory in other parts of the state and nation are stretched thin, hovering between 3 and 4 months of inventory, but Naples enjoys almost 7 months of inventory," said another broker. "What's even more impressive is that we have such a great selection of homes for buyers despite the recent increase in sales and still having some undergoing repairs from Hurricane Irma."
 
"We are seeing a very different sales environment locally from that of 10 years ago when home sales in northern states stalled," said a local managing broker. "But now that homes are moving fast up north, sales of high-end single-family homes in Naples are stronger than ever."
 
Brokers analyzing the market report agreed that multiple offers on luxury properties have risen. But whatever factor(s) is driving the increased interest, closed sales of luxury homes over $2 million are positioned to rise again as the stage has been set in the 2Q where pending sales in this price category increased 22 percent for single-family homes and 32 percent for condominiums. 
 
The NABOR® Second Quarter 2018 Market Report provides comparisons of single-family home and condominium sales (via the Southwest Florida MLS), price ranges, and geographic segmentation and includes an overall market summary. The NABOR® Second Quarter 2018 sales statistics are presented in chart format, including these overall (single-family and condominium) findings: