October Housing Market Rebounds After Hurricane Irma

As the image of Hurricane Irma sits fresh in the minds of Naples residents, the housing market bounced back in a strong way in October. The Naples area housing market finished on a positive note with a 1 percent increase from this October to last. The housing market activity surpassed expectations.

There were 57 closed sales of high-end, luxury properties priced above $1 million in October, a 36 percent increase over October 2016. Yet closed sales of properties priced below $300,000 dropped 12 percent, a loss of just 32 sales compared to October 2016.

Also reflected in the October report, closed sales for single-family homes priced between $1-$2 million increased 50 percent in October, while closed sales of condominiums priced between $300,000-$500,000 increased 26 percent.

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