Naples – Marco Island MSA Housing | Single-Family Update (First Quarter 2022)


For the first quarter 2022, single-family home market in the Naples – Immokalee – Marco Island MSA remains strong but appears to be experiencing a transition with respect to the number of sale transactions.

According to FloridaRealtors, there were a total of 1,557 existing single-family home sales throughout the greater Naples area during the first quarter 2022. This represents a significant 25% decline from the number of existing single-family sale transactions during the first quarter 2021 (2,076). Of the total, approximately 50% or 843 transactions were conducted using cash.

The amount of closed sales have continued to increase based on the following historical levels.

  • Q1 2022 – 1,557 (down 25.0% year-over-year)
  • Q4 2021 – 1,543 (down 25.1% year-over-year)
  • Q3 2021 – 1,683 (down 12.5% year-over-year)
  • Q2 2021 – 2,488 (up 88.6% year-over-year)
  • Q1 2021 – 2,076 (up 48.3% year-over-year)
  • Q4 2020 – 2,060 (up 57.1% year-over-year)

Based on the current level of activity and the decline in pending sales during the quarter, it is anticipated that the number of overall sales of existing single-family homes will decline in the upcoming quarter due to limited inventory levels, rising interest rates and record high home prices.

Overall dollar sales volume for the first quarter 2022 was $2.1 billion which is a 16.2% decline from the $2.5 billion realized during the first quarter of 2021. The past two quarters notwithstanding, dollar sales volume has grown by double digit amount since the third quarter 2020.

  • Q1 2022 – $2.1 billion (down 16.2% year-over-year)
  • Q4 2021 – $1.8 billion (down 19.5% year-over-year)
  • Q3 2021 – $1.8 billion (up 15.0% year-over-year)
  • Q2 2021 – $2.9 billion (up 161.8% year-over-year)
  • Q1 2021 – $2.5 billion (up 96.5% year-over-year)
  • Q4 2020 – $2.2 billion (up 132.4% year-over-year)

Single Family Home Sale Prices (First Quarter 2022)

The median sale price is one of the preferred statistical methods for measuring price activity as it is not as sensitive of extraordinary high or low sale prices (that are not typical of a particular market area) which can easily skew the values.

For the first quarter 2022, the median sale price for single-family home sale transactions in the Naples – Immokalee – Marco Island MSA was $365,945 which is 26.2% higher than that observed for the first quarter 2021.  

  • Q1 2022 – $745,000 (up 24.3% year-over-year)
  • Q4 2021 – $685,000 (up 21.2% year-over-year)
  • Q3 2021 – $640,000 (up 32.0% year-over-year)
  • Q2 2021 – $659,500 (up 41.9% year-over-year)
  • Q1 2021 – $599,450 (up 24.9% year-over-year)
  • Q4 2020 – $565,000 (up 29.9% year-over-year)

For the same period, the average sale price for single-family home sale transactions in greater Naples area was $1,371,369.  This amount is up 11.7% year-over-year and the highest realized in the entire state of Florida.

  • Q1 2022 – $1,371,369 (up 11.7% year-over-year)
  • Q4 2021 – $1,158,767 (up 7.4% year-over-year)
  • Q3 2021 – $1,074,510 (up 31.5% year-over-year)
  • Q2 2021 – $1,181,442 (up 38.8% year-over-year)
  • Q1 2021 – $1,227,898 (up 32.5% year-over-year)
  • Q4 2020 – $1,078,846 (up 47.9% year-over-year)

Single Family Home Inventory Levels (First Quarter 2022)

Inventory is the number of active property listings on the market for sale at any given point in time.  This particular statistic is one of the main components in a healthy real estate market.

As of the end of the first quarter 2022, there were only 949 single-family homes available for sale throughout the Naples – Immokalee – Marco Island MSA which is a 1.9 increase from the amount of inventory as of the end of first quarter 2021 and the first quarter increase in 10 straight quarters.  In the past two years, overall inventory has been extraordinary low compared to historical levels.  

  • Q1 2022 – 949 (up 1.9% year-over-year)
  • Q4 2021 – 816 (down 43.5% year-over-year)
  • Q3 2021 – 887 (down 51.6% year-over-year)
  • Q2 2021 – 883 (down 63.8% year-over-year)
  • Q1 2021 – 931 (down 70.5% year-over-year)
  • Q4 2020 – 1,443 (down 52.7% year-over-year)

The monthly supply of single-family home inventory as of the first quarter 2022 was also historically low.  At the current pace of sales, there is just a 1.6 month of inventory available for sale in the greater Naples area which is up by 6.7% from the same period in 2021.

  • Q1 2022 –  1.6 months supply (up 6.7% year-over-year)
  • Q4 2021 – 1.3 months supply (down 50.0% year-over-year)
  • Q3 2021 – 1.3 months supply (down 64.9% year-over-year)
  • Q2 2021 – 1.2 months supply (down 78.2% year-over-year)
  • Q1 2021 – 1.5 months supply (down 77.6% year-over-year)
  • Q4 2020 – 2.6 months supply (down 61.8% year-over-year)

The number of new single-family home listings were put onto the market during the first quarter declined by 9.9% year-over-year.  The prior five quarter are as follows:

  • Q1 2022 – 2,201 (down 9.9% year-over-year)
  • Q4 2021 – 1,503 (down 16.9% year-over-year)
  • Q3 2021 – 1,703 (down 3.5% year-over-year)
  • Q2 2021 – 2,161 (up 34.6% year-over-year)
  • Q1 2021 – 2,442 (up 14.8% year-over-year)
  • Q4 2020 – 1,809 (up 6.0% year-over-year)

Due to demand levels and low inventory, the number of new listings are increasingly higher price points continues to grow.  Following is a table of new first quarter 2022 single-family listings at individual price points.

Initial Listing Price Point (New) New Listings % Change (YOY)
Less than $50,000 2 NA
$50,000 – $99,999 0 NA
$100,000 – $149,999 0 -100%
$150,000 – $199,999 1 -50%
$200,000 – $249,999 3 -90.6%
$250,000 – $299,999 6 -89.8%
$300,000 – $399,000 98 -73.4%
$400,000 – $599,000 426 -28.0%
$600,000 – $999,999 702 16.2%
$1 million or more 963 22.8%

As of the first quarter 2022, the following table will show the number of active property listings at individual price points.

Current Listing Price Point New Listings % Change (YOY)
Less than $50,000 1 NA
$50,000 – $99,999 0 NA
$100,000 – $149,999 0 NA
$150,000 – $199,999 1 NA
$200,000 – $249,999 0 -100%
$250,000 – $299,999 3 -81.3%
$300,000 – $399,000 31 -68.4%
$400,000 – $599,000 141 -20.8%
$600,000 – $999,999 257 13.2%
$1 million or more 515 27.5%

Are you thinking of selling?

Based on the year-end 2021 data, the current state of the market is highly favorable for seller.  If you are a homeowner and are considering selling your personal residence, vacation home or investment property, not may be the perfect time to do so.

Our team has assisted sellers not only throughout the state of Florida, but in most major markets nationwide.  We take a highly methodical and deliberate approach when working with or clients and have specific strategies to help get the best value for the property.

Contact us at info@quantumcos.com or learn more by visiting our web site at www.QuantumRealtyAdvisors.com.

The information provided in this website was derived from sources deemed to be reliable to is not guaranteed or warranted. All information, content, and materials available on this site are for general informational purposes only.

Quantum Realty Advisors, Inc.

For more than 20 years Quantum has provided premium quality real estate services not only to traditional home buyers and sellers, but to business enterprises, trust and estate managers, asset management firms, charitable organizations and several of the world’s best know financial institutions.

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