1. The end of last year and the beginning of this year were awful if you had your home listed for sale.
2. Prices were too high and inventory backed up.
3. In the first half of 2017 prices regulated and the inventory bubble shrank to normal levels.
4. NOW THE MARKET IS BALANCED.
5. The market is showing definite signs of accelerating.
A. Pending sales are up 6%, 44% in homes between $500k and $1 million.
B. Closed sales are up 9%.
C. Prices are up 6%.
Get with an agent and get your home priced and listed. You want to be ready for the Fall buyers hoping to be in their new home or condo by January 2018.
A great couple with 3 kids just bought this big, big 5 BR home in Marbella Lakes. They will have fun here for many years.
The June Market Report just came in and Naples real estate enjoyed another very healthy month. This year has been positive overall after a terribly end to 2016. The inventory logjam has moved through nicely and prices are on the rise again. The price declines suffered in January, February and March sold a lot of homes. NOW we have 2 straight months with limited inventory coming to market and prices moving up.
June market Report:
Pending Sales +16%
Closed sales +9%
Sold Prices +3%
Pending in homes $1M-$2M +41%
Closings in $2MM +33% and in $300k-$500K +27%
North Naples Closings +18%
Condo Closings +13% with prices +8%
I held my prediction of the future market in last month’s writing. The turn I saw in May needed to be confirmed with a second positive report. Having seen June’s figures I see the market turning away from a buyer’s market to a seller’s market. Less inventory coming to market and the previous inventory backlog having moved, prices will naturally rise. Buyers cannot afford to pick over inventory and wait until they GET THE DEAL. Sensibly priced homes will move more relatively quickly. Naples hits “season” in 5 months and I see a hot market coming.
If you are a buyer, go make your choice. There are plenty of fine selections available now. If you are a prospective seller bring your home to market in the next 60 days.
Dennis Fogarty, Global Luxury Specialist
Coldwell Banker Global Luxury
550 Fifth Avenue South Naples FL- 34102
P: 239 530 8556
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Hard to find reliable help in real estate.