7.31 months of inventory. Not bad. Better than a couple of years ago when we were two years+. According to the Sunshine MLS this morning for the All Naples area there are 5,594 properties for sale and 9,177 were sold in the last year – giving an inventory figure of 7.31 months.
So what? Well lower supply levels are more supportive of prices as properties for sale become harder to find and scarcity allows sellers to raise their prices. Buyers in this market may find they need to be more accommodating of condition as well – those fixer uppers look better and better.
Results differ by area of course. When looking for property be sure you learn the supply demand balance in a particular neighborhood or even street. We know of one street in a gated community for example where the inventory is too high and sellers are likely to need to reduce price to make the sales. Buyers for properties on this street may be a little more aggressive on their offers. All of this where the opposite may be true in the general market.
But … things are sure better than a couple of years ago. With a tough winter up north and improving real estate conditions here in Naples our real estate recovery continues to come along nicely.
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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