Park Shore Naples Update 4/24/12

Park Shore is another Naples beachfront location that has seen some good buying traffic this year despite the warmer temperatures and with 9 months of inventory presently on the market. Sellers have a bit to be happy about...

If 12 months of inventory is considered stable (which it is here in Naples) then 9 months of Park Shore inventory means we actually have a bit of an over-demand if you will.  When inventories shrink, demand increases and before too long pricing starts going up as a matter of fact, they have bumped slightly north in Park Shore already. 

Park Shore sales this past 12 months over the 12 months prior are up a whopping 15% with an average sales price per square foot increasing about 4%.  Sellers are tightening their position as well coming in at nearly 91.5% of list price when last year they averaged right at about 90%.

If you're a Park Shore homeowner: You'll be happy to know there are less than 6 months of inventory listed.  That means now is a terrific time to put the home on the market. Even if the season is over, you should know your competition is less. Buyers are much more serious about purchasing this time of year and if you wait till next season, many of your neighbors who have been thinking about selling might decide to hop on the market to. Then you'll have considerably more competition in October. 

If you're a Park Shore home buyer You should consider getting into the habit of reviewing the Park Shore homes for sale on a daily basis.  Yes, not many will hit the market between now and October but when they do, I'll bet if they're priced well they will go fast and you don't want somebody else's leftovers to choose from.  If the thought of reviewing the Park Shore home listings every day is too much for you to consider, give me a shout. I'll be happy to watch the market for you and alert you of anything that might work for your objective.

If you're a Park Shore high-rise owner: Your market is considered technically level. Yaae! You'll want to make sure you're pricing your property right according to building, stack and condition. If you've recently remodeled, you might be happy to see what your condo is now worth. If you're condo needs remodeling, you'll want to stage your property before going on the open market. I can help with that too!  Call me today so I can assist you!

If you're a Park Shore high-rise buyer: You more than anybody else I'm referring to in the Park Shore blog post has some room to negotiate and be selective. Not only do you have some nice choices still on the market but with the right agent, you might even find some gems that aren't currently on the market. You have some good negotiation points to discuss but like the other buyers here, you'll want to pull the trigger now or this summer because you might find some serious competition coming into fall and winter.

If you're a Park Shore mid-rise owner: Congratulations! There are less than 5 months of inventory on the open market now.  Depending on the condition of your unit you may be surprised to hear what your property is now worth.  It would not be silly to put your property on the market today especially if you're priced and conditioned to compete!

If you're a Park Shore mid-rise buyer: Be diligent. With so few on the market I wouldn't be surprised at all if there won't be competition for new stuff that hits the market. You would be best off if you reviewed what was currently on the market for a match and work out a compelling negotiating plan of which I can assist you.  If you've been looking and are waiting for the perfect place, review the inventory often or request a specialist to do it. You'll want to strike as soon as possible to give yourself the best shot of acquiring the property.

If you're a Park Shore low rise owner: There's a shortage of inventory in your segment as well. (Just under 8 months). You may get a little more for your unit or it may be that you don't have to negotiate as heavily as you may have had to during the past most recent seasons.  Condition is important so if you haven't remodeled, by all means, stage.  If you don't know what that means, call me. It could make a very big difference in your market time, your net value or both.

If you're a Park Shore low rise buyer: There's still a lot of "cheap" stuff on the market. Here's your cue. Other locations around town are selling out of their entry-level inventory and you still have some opportunity to formulate a plan here. I would encourage you to do that now rather than wait till season because if the snow starts blowing early this next year, I think we're going to see higher than normal buying traffic.

If you are a Park Shore Villa owner:  This inventory is just slightly under level. Since there's so few of you, it should be easy to rule the market if you and your agent create a successful selling strategy.  Because many people don't readily think of Park Shore villa, you'll want an agent who knows how to address the special attributes of owning a villa in this location because you're competing heavily with locations like Pelican Bay and Olde Naples for those eyeballs and eventually dollars.

If you're a Park Shore Villa buyer: Hi all 3 of you. Just kidding. So far this year there have been 9 of you.  There's some nice product left but not much so the good news is you won't have to waste days and days seeing it all. It should make decision making pretty snappy.  Because of the shortlist of options, I would see if there's something that will work for you now because I can't guarantee that there's going to be something fantastic this time October or whenever the snow starts to fly whichever comes first.  I can help you with your negotiating plan so call me today and I'll help you get started!

Well Naples friends, that concludes my brief Park Shore Naples update. If you have any questions or you want to get started buying or selling your Park Shore property, contact me today!