Laura Layden wrote a great article in the Naples News this morning titled “NABOR: Naples area may shift to Seller’s market with real estate recovery.” I highly recommend it and please go to this link for the her story
We knew the continued recovery might tip the balance of power between buyer and seller – especially with declining inventories. When supply levels go low enough the sellers, not the buyers hold the cards. Wow – what a difference from 2006-2007.
Are we really there yet? A sellers’ market? Let’s take a look at the numbers. In this morning’s Sunshine MLS report 5,533 properties are for sale and 9,141 properties have sold in the last year giving an inventory of 7.26 months. I think we need to get six months to call this a true “sellers'” market but we are clearly on the way.
There are wide variations by property type and neighborhood but the numbers show our market has indeed tightened up over the last few years – thank goodness. Lower inventories support increased prices as the principle of supply and demand takes hold.
Anecdotally we see the signs of tight market day to day on the street as we take buyers around town. A buyer last week asked me to look at homes in the $600,000 to $800,000 price range “near Naples.” Tougher than you think. Although there are homes – single family homes – in this price range available – age, condition, location, style or price did not meet my buyer’s expectations. In fact I think he was somewhat disappointed in what his money would buy here. Felt like a seller’s market that day. We will keep working on it!
In two other examples with our customers we saw multiple offers delivered for well priced properties. No wonder the big commercial developers are gearing up their new projects.
These facts and figures and examples all point to the growing strength of the market overall – but … talk with us there are still some very good opportunities out there!
Questions?. Please contact us for more details on each area. heck with us for specifics on each area. For National And Naples Fl real estate trends see our YouTube channel http://www.youtube.com/user/naplesbestaddresses?feature=results_main .. or register at http://NaplesBestAddresses.com.
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