Posted on Thursday, May 08, 2014
The streets are quieter, fewer boats are on the waterways and you can walk in to most restaurants without a reservation again. Our good friends the snowbirds have flown home (for the most part) and our little southern hamlet is returning to its slower summer pace. Except for real estate. It seems real estate sales accelerated the last couple of weeks even as the population started to decline to summer levels. Maybe the snowbirds were buying up a little bit of paradise before the ride home.
In the first time in a long while Naples inventories dropped below five months. Five months! Remember when inventories were approaching two years? Ok let’s forget about 2007 let’s think about 2014. A quick look at the Matrix MLS this morning shows 4,192 properties for sale and a projected pace of of over 10,000 sales per year giving about 4.5 months of inventory. New construction is even tighter – inventories here may be around one month according to last reports.
So what? Well prices should rise even more. In fact support for rising prices is stronger than it was two weeks ago. Readers of this blog will know we think market equilibrium – a place where sellers and buyers have an equal hand and prices move sideways – is around twelve months. At 4.5 months we should see price appreciation and a seller’s market.
What does this mean for the home buyer? Get pre-approved, fire up a good search tool and be ready to pounce when you find that Naples Best Address for you. Sellers should have a smile on their face but beware. Price too high or have your property show up in poor condition and you may not sell.
Oh yes, and remember the thing about averages. All real estate is local – by building and by neighborhood. Look at supply levels for the particular sub-market you are in. Most, not all, of the markets we track right now are in tight supply.
What a difference a few years makes.
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.
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.