Posted on Saturday, October 20, 2012
When I look at the local data this morning I see our inventory decreased further to under seven months and sales volumes are up slightly over the last month. As we head into season we are positioned for a potentially very nice real estate year – we will see if it plays out.
The All Naples Area in the Sunshine MLS shows inventory now below seven months. Sales volumes are up slightly, about fifty homes a month and mostly in the condo market. Sales volume in single family homes were flat last month.
The Naples News and the Naples Area Board of Realtors (full disclosure, I am a member) reported slightly more optimistic news this morning. They stated “Overall pending home sales jumped 12 percent in the third quarter in the Naples real estate market while the inventory of homes for sale continues to decrease, the Naples Area Board of Realtors announced Friday. (http://www.naplesnews.com/news/2012/oct/19/nabor-pending-home-sales-third-quarter-collier-up/).” They are looking at county wide data meaning the areas just outside of Naples are fairing very well.
As we approach more normal inventory levels – say around six months as opposed to the nearly two year supply of a couple of years ago – we should see more price support. If we see any sort of volume against this lower supply we should see some rising prices. So What? Well what matters most is you find the property you want. The overall market is clearly improving as long as those buyers show up.
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All the best
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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.
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