Posted on Monday, February 17, 2014
Running along nicely as it turns out. Naples has fifty new listings this morning and seventy-four went pending as our market continues to eat up inventory as fast as it shows up. Let’s take a look at some numbers this morning.
In the single family home market 2,172 homes are for sale and 1,264 have closed in the last four months. At this pace our supply of single family homes is running at 6.8 months and supportive of further price increases. No matter how you measure the trends of new sales, sales prices, closing prices and prices per square foot are all on the increase in recent months.
The condo market including villas and town houses is offering 2,522 properties for sale this morning with 1,348 sold in the last four months. At this pace we have a 7.5 month supply of condos and this level should still be supportive of prices.
One difference in the condo market over the single family market is the rapid increase in sales price per square foot in the condo market. Your dollar is buying less and less in the condo world, that is to say the same dollars spent are not only suffering from rising prices, but more rapidly rising prices for a square foot of property than a house.
New construction is tougher to measure but appears to be flying off the shelf. The Naples News reported inventories of new construction at only 1-2 months here and I know from a recent buying trip many well priced properties seem to be snapped up even though they may be further from town. What a turn around and well done for the big commercial developers.
Buyers can still find “deals” but you have to look closely. It is not uncommon to have some of your favorite options go to other buyers if you are not prepared to make an offer. This does not move you should jump at things but you should be ready to make a purchase offer when you find your place. Be prepared – have a good search tool, know what you are looking for, know your target area and if your are financing make sure you have a pre-approval letter in hand.
Sellers should be feeling confident these days as the market is much improved – but a few things can help you further even in a good market. Do all you can to make your place sparkle. A little paint, some new floor coverings, a de-cluttering exercise and some outside landscape clean up may be in order. Most buyers are still looking for places in good conditions and are avoiding a renovation project.
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
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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.
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