Posted on Saturday, May 03, 2014
The first time I heard Cindy Carroll speak at an industry conference I was impressed – not only with her presentation style but her command of the facts in the local real estate market. Last week was no different when I heard her speak at the NABOR session at the Waldorf and this DGA (Darn Good Appraiser as her father used to call her) gave her views on the Naples, Florida market. Here are a few things we learned from her.
First off, she too agrees with us the new construction business is real again. The Naples Best Addresses team is building two new homes for sale in 2015 and we see some of the new trends Cindy sees – low days on market for new construction and low inventories which should support future price increases.
A little known statistic – 50%+ of the real estate inventory in Naples, Florida is less than $300,000. There is no new construction coming in this segment and large inventories reductions are observed. Watch for prices to heat up here. Cindy went on to say if we had the “old mortgage rules” in place this segment would heat up even more. I am glad to see the “new” rules in place quite frankly as the old rules caused quite an issue as we all know.
Cindy sees market equilibrium in Naples at the twelve month level – as do we. Equilibrium is where buyers and sellers have equal footing and we do not see much price movement. Cindy’s research shows when inventories dip below the six month level the market may be supportive of double-digit price increases and six to twelve month inventories may see 5-8% increases. Where are now? On AVERAGE, less than six months. If she is right, Naples is headed for more double digit price appreciation.
Cindy also sees slight price decreases in the high end segments. Why? Supply again. Readers of this blog will know Port Royal and Aqualane Shores see inventories at “equilibrium” – near twelve months – according to our month end April analysis.
So what is the point in all of this? Price appreciation again folks. Keep an eye on inventory though, watch it by price point as well as location and know your micro markets street by street and building by building.
If you would like to know more about things to do here in Naples, Florida or if we may help you with any of your real estate needs please give us a call at 239.595.3921. Also consider reading our book “Understanding Naples Real Estate” to get you started on your real estate search https://www.naplesbestaddresses.com/offer/.
Hope to meet and talk with you soon,
Mark Goebel PA & Nan Goebel PA
Co-Founders Naples Best Addresses Team
Coldwell Banker Mark Goebel, PA and Nan Goebel, PA REALTOR Coldwell Banker 5th Avenue South Mobile: 239.595.3921 239.595.3920 NaplesBestAddresses.com Facebook: NaplesBestAddresses Youtube http://www.youtube.com/user/naplesbestaddresses?feature=results_main
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.
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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.
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