Posted on Friday, November 30, 2012
Supply and Demand that age-old economic force is starting to work in favor of real estate markets. Somewhere around late 2007 the nation faced an incredible supply of unsold homes during the worst of the housing crisis. According to Department of Numbers.com data US housing inventory stood at 1,600,000 homes in a survey of all metro areas in late 2007. Today housing inventories are less than 800,000 – half the 2007 figure – for the same area. Before we celebrate too loudly I ask us all to think about the incredible havoc this caused for many American families. Life may never be the same.
Lower supply – with continued volume – should provide support to prices. There is nothing like a little scarcity to liven up price behavior. In some markets we are seeing multiple bids for properties and shorter time-on-market. But beware all markets are not created equally so get with a good Realtor to sort out your specific market.
Here in Naples, Florida let’s look at the inventory at month end November. According to the Sunshine MLS All Naples Area inventory stands at 7.29 months – much lower than just last spring. 5,360 properties are for sale and we saw sales of 8,827 units over the last twelve months. I like the fact we are starting up our high season with lower inventories than last year. If volumes show up we may see price appreciation.
Sellers need to remain aggressive however with well thought out marketing plans and pricing strategies. Beautiful places in good locations priced too high still will not sell. Work with a Realtor. Execute a proper comparative market assessment (CMA) and get honest with your pricing. Places are selling but the price still needs to be right.
If you have any questions just contact us and we would be pleased to help you. For National And Naples Fl real estate trends see our YouTube channel http://www.youtube.com/user/naplesbestaddresses?feature=results_main .. or register at http://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.
Some of the data relating to 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.
Mark Goebel, PA
REALTOR Coldwell Banker 5th Avenue South
Mobile: 239.595.3921
NaplesBestAddresses.com
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