Our most recent market statistics are out, and buyers will be pleased!

 

For the first time in several years, you’ll find that the inventory of homes available for sale is UP over last year. To economists, this is a sign of a more balanced real estate market than we’ve seen in quite a while. To home buyers, it means that there is more to choose from!

 

Now before you get too excited, bear in mind that the last few years have seen incredible activity in the Naples market, with very tight inventory all around - so we can’t declare what is traditionally known as a “buyer’s market.” However, the relationship between supply and demand is experiencing a natural correction and as a result, my clients will feel a difference from those who were looking for Naples homes in the last three or four years. 

 

Notable inventory gains are seen in a few specific market categories and locations. If you’re looking for a condo over $1 million, you’ll have significantly more choice than you would have found in 2015. And for those clients focused on North Naples and Naples Beach areas, you’ll find more options open than in the last few years. 

 

Still, Naples is one of Florida’s most desirable communities and demand for quality homes is high. What’s more, demand for highly desirable homes is always competitive and demand for homes in the “sweet spots” price categories remains strong. These examples stand out in the mort recent market report:

 

  • In the condo market, sales for units between $300-500,000 jumped 21% over last year.
  • Pending sales for single family homes between $500,000 - 1 million increased 42% over last year. 
  • Overall sales for homes over $300,000 are up across the board. 

 

What’s the best advice for buyers? 

 

  • Educate yourself! I am glad to speak with you about your specific wants and needs and how current market trends impact your decision. 
  • Don’t be penny wise and pound foolish. You may indeed find a home that you consider a “deal,” but prices in Naples continue to rise. Over the past year, closed prices are up 13% over last year. 
  • Be prepared! When the right property becomes available, you’ll want to be ready to make your offer. Quality homes mean quick sales - don’t miss out on something special! 

 

As “Season 2016” winds down, I’d like to thank all of my clients and remind you that I’m here year round to serve you. I’d love to chat about your dream for a home in Paradise!