Our real estate market in Naples, Florida, continues to see activity through the effects of higher mortgage interest rates, post hurricane questions and updates in the insurance industry. As we saw the inventory overall increase after the “COVID Land Rush,” the supply has stabilized and capped out at the current levels. Demand for Naples, Florida, is still there.
Where are the contracts being written? Neighborhoods that are seeing the most activity are Pelican Bay, Naples Park, Conners at Vanderbilt Beach, and a few inland communities offering good bang for the buck and some desirable gated communities with low inventory.
Who is writing the contracts? We still have the same expected groups of buyers who are active in the market with some more emphasis on the investor clients. Second home, full-time residents, and vacation home buyers have always put value on Pelican Bay through all of the ups and downs of the real estate cycles. Nothing has changed as that community will always enjoy a premier location and the unique amenities including private beach that make it such a special community. Buyers and boaters who have sought a canal home in Naples are acting on properties in Conners at Vanderbilt Beach.
Now that there is more of a selection of homes there than recent history, the decision is between renovating a storm-damaged home and something untouched but more expensive. What is your feeling about a renovation and making it your own? Gulf of Mexico boating access is right around the corner through Wiggins Pass, you can walk to the beach and all of the action in North Naples is minutes away. Boat in the backyard, walk to the beach and Mercato and Pavilion right there…….what’s not to like?
On the investor side of things, it is still Naples Park as the destination. Even if you are not a pure investor yourself, this neighborhood is a sound investment because there will always be a demand for an affordable single-family home located west of 41, walking distance to the beaches, and no restrictions whatsoever on rentals or pets. Make it a seasonal vacation rental, use it yourself as a second home or a full-time residence – any way you slice it, it is an investment opportunity.
What should you expect? Regarding the supply, it’s not going to get any bigger in numbers. As contracts are being written, the inventory will decrease. The supply and demand is dynamic – it is going to vary on any given day. The sellers that do come on the market for sale going forward are going to be serious sellers who are motivated to make it happen. The goal is to match a serious buyer with a serious seller. Admittedly, there are some sellers with unrealistic expectations who have not adjusted to the realities of the current real estate market.
As a seller, the best thing you can do is to price accurately from Day One so that you don’t become one of the listings that chases the market down over months and months. Put yourself in the buyer’s shoes for a moment and what would go through your mind when you watch a property reducing (or not reducing) over a hundred days or more on the market……”What’s wrong with that house?” or “They’re overpriced.” Price your home accurately, hit it hard with the marketing during that honeymoon period of being a new listing, and don’t be afraid to adjust quickly.
As a buyer, it might take presenting more than one contract until we land on a motivated seller to achieve that goal of matching a serious buyer with a serious seller. Everybody wins. Seller gets a sale. Buyer makes a purchase representing value. In some cases, there is room for negotiation like we have not seen for quite awhile – it’s going to be neighborhood by neighborhood and case by case. As a buyer, choosing the correct contract, appropriate forms to protect your best interests, and having a winning strategy are important for success.
Currently for Sale in Pelican Bay
Currently for Sale in Conners at Vanderbilt Beach
Currently for Sale in Naples Park
Currently for Sale in Riverstone
Currently for Sale in Colliers Reserve
Serious buyer? We listen well and will find your own “Piece of Paradise” or investment property at the best negotiated price and terms. We are full-time professional REALTORS® with the ABR® designation (Accredited Buyer Representative) who depend on your referrals and take pride in our work. We have lived and worked through all real estate cycles. Take advantage of our skill and strategy to make you a successful buyer in a challenging market.
Serious seller? We will give you honest advice about current market conditions and pricing. We will aggressively market your home to local, national, and international buyers for the best results and a smooth transaction. Our experience with negotiating, as well as handling multiple offers, will result in the best terms for your own situation.
