“Season” has come and gone, but not the buyers. There are some very good reasons that this summer is an excellent time to go on the market for sale in the Naples and Bonita Springs areas.
1.) Inventory is low. Sales have been increasing over the past few years and now there just are not enough homes or condos on the market for sale. The inventory level of homes listed for sale has decreased 15 percent over the last year.
2.) Many of the seasonal renters this past season who intend to purchase were not able to find a home or were unwilling to compete successfully for the most desirable properties. They have asked their real estate agents to be on the lookout for new listings that will come on the market. The serious buyers will jump on the next flight.
3.) Spring has sprung up north and now the Northerners are successful in selling. This past winter was particularly harsh, s, many of the Northerners were not able to sell their homes in January, February, or March. Those folks are now buyers flush with cash and ready to pull the trigger.
4.) The new construction projects are not able to keep up with the demand. New is nice, but many buyers don’t want to wait a year for their home to be finished. Naturally, they go to resales to own and occupy immediately.
5.) The pending contracts continue to climb. The buyers are out there looking and writing contracts. At this time of year, the more serious buyers are active in the marketplace. The “tire kickers” that frequented Sunday open houses have left town.
6.) Asking prices are up. As each of the neighbors in your community is successful in selling, the next home or condo that goes on the market for sale is asking a little bit more.
7.) Closed sale prices are up. Two important things are happening in the real estate market right now related to the final sales price of homes, condos and vacant lots. Overall, the closed sale prices are increasing. Also, the percentage of final sales price to asking price asking price is higher. As a seller, you can expect to receive offers very close to your asking.
8.) The Naples and Bonita Springs areas have more sources of buyers than ever before. Aside from Mid-Westerners and New Englanders wanting second homes, we have investors, we have move-up buyers again in the market, we have families with children relocating to our area like never before and the foreign buyers from all over the world have a keen interest in Florida real estate as their financial position makes it advantageous to purchase now.
9.) There is less competition right now. It makes sense to go on the market when you are the “only kid on the block.” Why compete with others in your neighborhood that all come on the market in the same month? As the only available home or condo for sale, you can be much more demanding in negotiations.
10.) The Law of Supply and Demand dictates what happens in our real estate market. As a seller, now is your time.
Call us for a no-obligation evaluation of your home and potential sale. We would like the opportunity to share our marketing strategy to get you the best price and the best terms.
Ellie at 239-776-5077 or Tim at 239-272-4848
LOCAL KNOWLEDGE. GLOBAL MARKETING. RESULTS.
