As we close out 2013, it is much easier to claim wisdom with the benefit of 20/20 hindsight. It was another record year for Naples area real estate for the number of closed sales. The law of supply and demand had its effect as we saw prices increase as the inventory diminished. For those of you who like statistics, the numbers are very encouraging for a healthy real estate market. The Naples area housing market showed a 19% increase in the overall median closed sale price over the last 12 months and the report shows that pending sales increased by double digits. While overall closed sales rose a respectable 9%, the 17% decrease in overall inventory will continue to be an influence. In plain English, there is continued confidence in a well functioning, balanced market and both the buyers and sellers have been getting fair deals.
If you are a buyer in 2014, expect the inventory to be considerably less than what you may have experienced in years past. You don’t have the luxury of “all the time in the world” – there is less from which to choose and prices have been rising. Nowadays, this applies to both single family homes and to condominiums – simple supply and demand. Have you been thinking of a ‘tear down’ to build your own Florida dream home? If you take a drive through the neighborhoods of Seagate, Park Shore, The Moorings and Coquina Sands you will notice the amount of work in progress, demolition and new construction. We are able to show you all of the homes currently available for sale and some that are not listed in the MLS system so, contact us to help you find your own piece of “Paradise”.
If you are a seller in 2014, then it is time to jump into the market right now. You have not been in a better position to negotiate the terms of your sale for years. Call us to evaluate your own situation and develop a marketing strategy to maximize your gains.
Predictions for 2014? This will be the year in which someone will pay $1,000,000 for a non-waterfront ‘tear down’ in the Naples neighborhoods west of Route 41 (Pelican Bay, Seagate, Park Shore, The Moorings and Coquina Sands). In select neighborhoods, I think we will see closed sale prices approaching the levels of 2004.
All the best to you and your families in 2014. May it be the year in which you make good decisions, real estate related and otherwise, to enjoy your Florida lifestyle.
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Naples FL Communities We Serve:
Aqualane Shores (Boating) – Olde Naples (Beach Cottages & Luxury Estates) – Coquina Sands (Beach & Bay) – The Moorings (Beach & Bay) – Park Shore (Beach & Bay) – Seagate – Pelican Bay (Beach & Golf) – Pelican Marsh – Vanderbilt Beach (Beach Front) – Connors (Boating) – Naples Park (Walk to Beach) – Monterey – Autumn Woods – The Dunes (Resort Style) – Pelican Isle Yacht Club Condominiums (Boating) – Tarpon Cove – Audubon Country Club (Golf) – Banyan Woods – Vineyards –
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