Supply and Demand that age-old economic equation is hard at work in the real estate markets. In Naples, Florida we saw inventories (supply) balloon in the downturn, prices drop accordingly, volumes pick up and sometime last year inventory return to seven months – ok not bad.
But then what? We may be stalling out a bit, right in the peak month of Florida selling. Why do I say this? Three reasons:
1) Volumes are dropping. In December 780 properties were sold but only 550 in January. Worse, December tends to be a slow month with the holidays and January booms so we should see a volume increase. We do not like this fading volume pattern
2) Inventory (supply) is starting to increase again. Rising to 7.43 months with 5,679 properties for sale and 9,167 properties sold in the last year we do not like rising supply – a sign of slowing activity.
3) Prices are rising with median sales now at $215,000 up from $205,000 in October. Rising prices in the face of slowing demand is not a good sign. Prices may be knocking back the buyers a bit.
We will see what February and March bring but it could be our prices have run ahead of the market a bit.
(all data from Sunshine MLS for All Naples Area morning of 2/9/13)
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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