Posted on Monday, February 10, 2014
Our readers will know local inventory or supply hovers around 6-7 months and this level of supply is more supportive of prices and price increases than a few year years ago when supply nearly reached the two year level.
But what about the new stuff? Where is this much talked about new construction? Going as fast it can as it turns out. Just looked at the spec housing boom where many an old Naples property is torn down for new construction. As we reported earlier, due to land costs, the spec builders must build big to cover the land costs and the market right now seems to be gobbling up these 4,000 square foot + mutli-million dollar homes.
But what about the commercial developers? The big boys are beyond start up phases and bringing on finished properties to the market. Starting about a year ago you could see the supply shortages in the re-sell market start to form and the larger developments started opening up projects again. It takes a while for planning and permitting to clear and we seem to have moved beyond the paperwork and are putting more shovels in the ground.
These new developments are what we want to talk about this morning. Twin Eagles, Lely, Treviso Bay, Isles of Collier and Fiddlers Creek to name a few are selling strong right now. Many a buyer is making the new construction-proximity trade off – that is buying further away from the beach and town in favor of new construction, new floor plans and nice amenities.
Last week the Naples News reported (2/6/14) “The latest report by Metrostudy — a national housing data and consulting firm — shows the new home inventory dropped to only a 1.1 month’s supply in the fourth quarter of last year.” One month – wow! I bet if you looked at reserved orders – that is sales before construction their would be virtually no inventory. The new properties in these big developments seem to be selling strong again – a very good thing for our area and our people.
We encourage our buyers to take a wide view here. Go out with us and see the new developments and see if your Naples Best Address is further away from town and the beach, but just what you wanted.
If you would you like to know more about Naples, Florida or things to do while living or visiting here just give us a call at 239.595.3921. Or if you like download a copy of our free eBook Understanding Naples Real Estate 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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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.
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