Inventory Is Down ~ Inquiries Are Up!
January is now behind us, and Easter is early this year, which means we are now technically 1/3rd the way through our “season“. There are a lot of buyers in the market place….open houses, floor time opportunity, sign calls and Internet leads have all increased substantially. Even the media, for the most part, is reporting good news on the real estate front. Inventory is way down, and in many cases when working with buyers, in just about every price range, we are having trouble finding quality listings that are priced right.
Here are a few examples:
Presently there are only 2,636 Active single family homes for sale in all of Naples.
265 of the 2,636 are listed as “short sales”
There are 701 single family homes in MLS priced below $300,000., and of those 181 are listed as short sales, which is nearly 70% of all short sales on the market.
2,373 single family homes sold and closed in Naples which were listed at or below $300,000 in the past 12 months. Therefore, based on the 701 currently for sale, this equates to approximately a 3.5 month absorption rate. Those buyers looking for decent low-end housing are running out of options. Many of the listings that are selling are being purchased by investors.
Contrary, there have been 370 single family homes sell in Naples in the past 12 months listed at our above $1 million.
Presently there are 735 single family homes Active in the Naples MLS priced at or above $1 million. The Naples luxury real estate market is still soft when looked at as a whole, except in those areas where inventory in the under $1 million price point has diminished, such as Olde Naples or Naples waterfront Properties.
If you would like information about any specific neighborhood, or for information about what we believe are today’s BEST BUYS, please contact any member of The Harris Peppe Team. We look forward to hearing from you soon, and we hope to earn your business. 239.370.0574
Thank you and make it a great day,
The Naples Real Estate Blogger
*data derived from the Naples multiple listing system, SunshineMLS, info deemed reliable but not guaranteed.