Posted on Tuesday, March 03, 2015
(great lake view and walkable to the Gulf of Mexico – many great memories for the seller here)
Many real estate markets across the country are recovering these days, the NASDAQ is back to its old twelve year peak and average prices in the local Naples real estate market increased a whopping 20%+ in 2014. Readers of the blog will know this big spike in average Naples real estate prices follows two prior years of solid real estate price increases. Clearly Naples is booming.
Would this be a good time to sell your home or condo? Let’s take a look at this question. Just yesterday in the coffee shop on fifth avenue south a friend told me he was putting his home on the market after patiently waiting these past few years for prices to recover. Another couple we know have decided to cash out so they can move on to an assisted living property. Sellers as past “fence sitters” seem to be moving into the market fairly steadily.
What properties are selling right now? Well just about everything but there are a few exceptions. Well priced properties in good condition are moving quickly with average days on market around 40 days right now. Prices in the “barbell” – below $300,000 and above $2,000,000 – are on the rise. The Naples News reported a 50% increase in home prices over the last two years in the $2,000,000+ market and homes under $300,000 are difficult to find. On the other hand overly aggressive pricing on some properties in this market – in any market – is turning away buyers.
(newer listing in Fiddler’s Creek – single family with a preserve view)
Yesterday we were with buyers looking at new construction in Quail West and wow – things are moving along at a good clip there. For that matter developers across Naples are breaking ground and selling approximately 50% of the new homes and yet the re-sale market remains strong. We are once again in a seller’s market.
Let’s take a look at how things now stand this morning and see how things may have worked out for sellers.
In the short term we expect Naples average prices to continue to rise. Why? The foundations of the Naples real estate market remain strong. The sales of single family homes see steady volumes against a smaller inventory very supportive of rising prices. The condo market is stronger yet with rising volumes against smaller inventories. A look at the market this morning shows 2,804 Naples properties of all types sold in the last four months and 4,459 properties are currently for sale giving us a 6.3+ months inventory – a level very supportive of price increases.
(neat and clean and a great value in Naples Park – withe side lot)
The question we ask – should you be selling your place in Naples right now? This is a question we often receive from our friends so we thought we would take a moment and share a few thoughts with all of you – our 11,000+ monthly social network followers.
For most of us, property ownership is about living not investing. So if you like your place stay with it and enjoy life. Too often we see sellers cash out, then go out on the search for something better. Just be careful what you wish for.
If you are considering selling your property you have the advantage of a seller’s market. Buyers have less to choose from and prices are rising. You know well priced prices in good condition are selling quickly. Your first few weeks on the market are going to draw a lot of attention. In fact you should see an offer or a repeat visit in the first four to six weeks. If not, we think you should improve the condition of your property and/or reduce your price.
(beautiful view of a common area garden with lots of natural light)
Get with the Naples Best Addresses team to look at trends for your particular property – type, location, condition all really matter and prices will differ.
It is also important to understand why you want to sell. Downsizing? Great idea for some. Found the “Forever” place and want to move? Great Reason. Know where you are going or love the new place you are going to or change up your lifestyle? Great. Flip because the market is hot? Maybe not. Don’t just sell to make a profit or jump on the latest up market craze. This is your home. Think it through with us and let us help you explore the possibilities.
I hope you have an opportunity to visit or live in Naples or Marco Island. If you would like to know more about living here just give us a call at 239.595.3921.
Please also consider reading our book “Understanding Naples Real Estate” to get you started on a real estate search https://www.naplesbestaddresses.com/offer/ or just give us a call about things to do here.
We look forward to meeting and talking with you soon,
Mark Goebel PA, Nan Goebel PA and David Goebel, PA
Co-Founders of the Naples Best Addresses Team
Mark Goebel, PA and Nan Goebel, PA
REALTOR Coldwell Banker 5th Avenue South
Mobile: 239.595.3921 239.595.3920
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. We are pleased to announce a portion of our real estate earnings go to support the The Naples Botanical Garden, Habitat for Humanity Collier County, The Race For The Cure Citrus Ride, The Seacrest Country Day School and The Naples Winter Wine Festival. 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. Contact us to learn more about Naples real estate trends, the florida rental market, Naples design ideas like coastal contemporary and transitional designs or just get a feel for the place like Naples Florida population trends.
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