Yesterday morning we listed a wonderful new property in Naples, Florida with a view of Naples Bay and some great amenities. Later the same day we had one offer and one under consideration. What is going on here?
Well first is the inventory. Go back a couple of years and Naples, Florida was long in property supply. Buyers could pick and chose and wait a while considering just which property to buy. Today things are a bit different.
This morning there are 5,246 properties for sale in the Sunshine MLS for the All Naples Area. 8,722 properties were sold in the last year. This all equates to a 7.22 month inventory – a level in Realtor speak where we should start to see some price stability.
A well priced single family home is in demand these days. All the better if it was built recently and includes some modern features like higher ceilings and smarter layouts. Add in some coastal contemporary design concepts and you have a hot product – some selling near $1,000 per square foot. Too rich for your blood? No problem, move away from the beach and find great new homes for less than $300 per square foot within a twenty minute drive of the Gulf of Mexico.
Add to the inventory picture and you have a growing national feeling the real estate market is turning around. Jamie Dimon explained what could go “Boom” is a recent CNBC article (http://www.cnbc.com/id/49762930) and commercial developers are starting to plan new communities again. The wheel is turning.
We have one more showing this morning after church than we are going to escape the rush a bit and head out to one of our favorite barrier islands for a couple of days (did I mention the awesome lifestyle here? ) then back at it.
Give us a call or contact us. We have tailored and local-specific information that can help you understand the Naples, Florida real estate market.
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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 NaplesBestAddresses.com Facebook: NaplesBestAddresses Youtube http://www.youtube.com/user/naplesbestaddresses?feature=results_main