Inventory of homes in Collier County was up 17% in April

Overall home inventory in Collier County was up 17% in April compared to April 2021, according to a market report from Naples Area Board of Realtors. In addition, pending sales and overall closed sales were down 32% and 36%, respectively, while new listings decreased 3%. The median closed price increased 36% from April 2021 to $599,000 with homes staying on the market for an average of 16 days.

On a National level new home sales posted a double-digit percentage decline in April, down 16.6%. It’s the weakest pace in two years, with the National Association of Home Builders (NAHB) citing rising mortgage rates and worsening affordability conditions for the drop.

Sales of newly built, single-family homes in April fell 16.6% to a 591,000 seasonally adjusted annual rate from a downwardly revised reading in March, according to data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

Year-to-year, new home sales are down 26.9%.

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