Is it a Buyer's Market or a Sellers Market? (Part II)
Is it a buyer’s market or a seller’s market in the Naples and Bonita Springs area? How can it be both ways? The Naples area real estate market has always been very localized through all cycles, all economic conditions and the ups and the downs. Everyone has heard the phrase “West of 41” as it relates to the real estate market in our area. Beyond the geographic significance of Tamiami Trail and the proximity to the Gulf of Mexico, every neighborhood has its own value. Sale prices are reflected in the particular neighborhood and, naturally, influenced by the law of supply and demand.... read more - Part I
The Market does work both ways in the Naples & Bonita Springs areas. Let's look at what has already become a Seller's Market in Bonita Beach real estate.
Thinking of buying a home along Bonita Beach on Hickory Boulevard? Don’t take another minute reading this article – call us now @ (239) 776-5077. This short stretch of beachfront homes offering panoramic Gulf of Mexico views and your own personal tropical sunsets experienced lots of activity this season -
Beachfront single family - 2011 total closed 9 . . . . . . 2012 total closed 6. . . . . . with only 6 active listings ... that is one of the lowest inventory around - less than a 4 month's supply. Which immediately translates into a Sellers' Market. The sellers know that the inventory of homes on the market for sale has dwindled to a very low point. So, as you would expect the prices would increase and they have, and if the inventory/supply remains low, even a bigger increase in prices would be expected. This market area is currently more of a seller’s market, so don’t wait around to pay more later. There are still some good buyer opportunities but, don’t expect them to be there forever.
Interestingly enough - same 2 mile stretch on Hickory Blvd - and you might have a Buyer's Market that is slowly turning into a Seller's Market. Beachfront condos had a total of 35 closed sales in 2011 .... and 14 total closed sales in 2012 ... with 27 active units - approximately a 8 month's supply.
Our years of experience in real estate as full time Realtors® will prove to be invaluable to you when purchasing in Naples and Bonita Springs FL, so feel free to call or email with general questions about our local real estate market or any particular community. Visit www.StepstoTheBeach.com for new featured listings and updated information. Hope you enjoy our daily blog too.
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- Topic: Home Buying