Posted on Monday, October 29, 2012
The local Naples market has shown great improvement these past two years with inventories returning to more manageable levels. A look at the Sunshine MLS this morning for the All Naples Area shows an inventory of 7.16 months for all property types with 8,649 properties sold in the last twelve months and 5,161 for sale this morning.
The real news around here is the single family home market. Inventories in this sub-segment are 5.99 months – finally below six months and at a level many real estate professionals would consider at equilibrium (a theoretical state where buyers and sellers have equal power). Wow is this great news and a long time coming.
On the street you get the feeling of tighter single family supply. Buyers are surprised at the lack of selection and/or the speed at which well priced properties move compared to other markets. Spec home building and large developers are back in business reacting to lower supply. Pulte homes reported strong earnings last week. It sure feels like the single family home market is back.
Our thoughts go out this morning to all of our east coast clients and friends up north. Good luck these next few days and hang in there.
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