In a “be careful what you wish for” market trend, lower inventories are starting to have troubling effects in Naples, Florida real estate and nationally. A quick look at the Sunshine MLS for the all Naples area shows inventory at 7.2 months – down considerably in the last year. The good news is this “shorter supply” drives up prices and brings partial relief to many a seller.
What’s the downside? It is tougher for buyers to find a place frustrating buyers accustomed to finding good deals. Buyers may also find multiple bids for their favorite property – a shocker to fence sitters not used to competition. Realtors my suffer a bit A well when volumes start to drop and commissions slow. However the sellers start to benefit and the banks can start to move some of that troubled property.
How do you fix low inventory? Well we may see more sellers enter the market as they see better prices BUT look to the big commercial builders – they are the ones who can add big volume. For example if we would like to see our inventory back to the so called equilibrium value of one year we need to add something like 3,000+ properties. Where will it come from? Some bank selling, some new listings of existing homes but to move the big numbers – probably a lot of new development. Keep your eye on ground breaking projects at Sabal Bay and some more action at Treviso Bay as local examples. And oh yes, don’t we buyers love “new” construction.
Let us know what you think!
No legal, investment, or tax advice is being given in this Blog. Consult with legal, financial and tax professionals before acting on any real estate transaction. Actual real estate price and sales results are subject to market forces and are not completely predictable. The writings of this Blog are intended for the sole use of our clients.
Some of the data relating to real estate for sale on the NaplesBestAddresses.com website comes in part from the Broker reciprocity program of M.L.S. of Naples, Inc. The properties displayed here may not be all the properties available through the MLS reciprocity Program. This information is deemed reliable but is not guaranteed. Buyers and sellers are responsible for verifying all information about their purchase prior to closing.
Mark Goebel, PA is a REALTOR with Coldwell Banker on 5th avenue in Naples, Florida with 35+ years of visiting and living in Naples. After 25 years at Accenture, Mark retired as a managing director and spends his time helping non profits and building a Naples real estate team with his wife Nan. Talk to Mark and Nan about life in Naples and why they chose this place to live full-time over all others and enjoy Naples real estate.
Mark Goebel, PA REALTOR Coldwell Banker 5th Avenue South Mobile: 239.595.3921 Email: firstname.lastname@example.org NaplesBestAddresses.com Facebook: NaplesBestAddresses Twitter @mcgoebel Naples Best Address – Where The Best Address in Naples Real Estate Is Yours