In the month ending April, 2013 over 1100 properties were sold in Naples – up from 850 sold last month and significantly above the average of 773 per month – now that is a strong finish to the tourist season.
All of this sales activity has taken another bite out of inventory (supply). We are now down to 4717 properties for sale – or 6.16 months inventory given sales of 9,187 properties in the last year. This is a significant improvement over the down times and readers of this column will know we were just at 7 months supply a couple of months ago – the market is getting tighter and tighter.
I really don’t think big time supply relief is on the way in the next few months meaning continues sales are going to tighten up this market. the commercial projects now breaking ground will come online with some great options but they are not here yet and sales continue.
The end of season may not mean the end of the trend as the forecast looks to be more of the same with continue sales and activity. Pending sales are approximately 1,300 – significantly above the average of 892 per month. Are we going under six months supply? Maybe.
Results will differ by Naples area and I encourage you to get with a Realtor and explore your specific interests. One thing seems likely – buyers are going to see less and less to choose from and sellers can get a little more bold. I would advise buyers in this market to obtain pre-approved financing and check their online search results daily. I would advise sellers in high demand areas to check their pricing carefully as market demand is strengthening.
Let us help you find property in this scarce market or help you price your property for sale in these times. Give us a call or email us and let’s get started.
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* Data Source: Sunshine MLS All Naples Area Data
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 Naples homes for sale and Naples 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