Posted on Monday, January 30, 2012
There continues to be some indication our local Naples real estate market is slowing down on a volume basis. Should sellers be more welcoming of offers and buyers take a “low ball” or wait and see posture? Maybe – it will depend on the specific neighborhood, sometimes specific building, as all real estate is hyper local. But take a look at these figures.
On the all Naples area in the Sunshine MLS this morning we see 418 properties sold in the last month and 663 sold in the prior month – a decrease of 37%. Some of this – a lot of this – could be December holiday related but look at the three month trend. For the three months ended 1/30/2012 1,561 properties were sold in the all Naples area. 1,634 properties were sold in the prior month or a decrease of 4.5%. You would think volumes would be increasing as we move in to season.
Inventories are down so there is less to choose from. Financing is more difficult to obtain (a good thing given the past I think). The remaining sellers may be more reluctant to decrease price as they have read of improving markets in the papers. It is all hard to say but facts are facts – overall volumes are slowing.
The national trend is similar at the annual level. Four days ago CNN Money reported”Just 302,000 new homes were sold in 2011, 6.2% below 2010 and the lowest number of annual sales since the government started tracking home sales in 1963.”
What’s going on out there? Our advice – know your neighborhoods, know the trends by sub market and make an intelligent choice on local markets. If you are a seller watch this in particular. An offer in hand in a slowing market might be more attractive than you think.
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No legal or investment advice or suggestions are being given in this Blog. Actual real estate price and sales results are subject to market forces and are not completely predictable. Please consult a lawyer or investment advisor for such legal and investment advice. The writings of this Blog are intended for the sole use of our clients.
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
Mobile: 239.595.3921
Email: mark.c.goebel@gmail.com
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