Hello Naples Friends,
It’s time for my Port Royal Naples, Florida, market update. Some of you have already made it back. Welcome! We’ve been busy sprucing things up and making improvements all over town. Some of you are currently preparing to come down. Safe travels and I hope to see you soon.
* Please see the update at the bottom of this post.
If you’re buying or selling a Port Royal home, here’s everything you need to know to get started.
The current Port Royal real estate market:
Active - 49
Pending - 2
Closed during past 365 days - 33
Closed sales year before - 38
Closed sales year before that - 38
Port Royal Sales have been down 14% over the past two years.
17 months of inventory exist, up to three months since my Port Royal report last November.
The lowest-priced listing is an updated, off-water home for $4,500,000. Last year, the lowest-priced home was on the market for under $4,100,000.
The highest-priced listing is just under $61,000,000, with a recent price increase from $59,900,000. Mmm.. OK.
Four listings currently show 30 days of market time or less, but in actuality, 2 of those listings are recycled.
2 Port Royal homes priced between $6,000,000 and $9,000,000 are currently under contract and sold relatively quickly compared to the average 254-day market time for the properties sold during the past 12 months.
Market time appears to be down 7% compared to sales during the past 12 months.
I'm excited about two segments of the market, including Port Royal's new construction, but you'll have to check out my full Port Royal update to find out what they are!
Best Regards,
Shannon Lefevre, PA
239-595-6223
* Update 3/10/24 This market has changed dramatically over the past few months. On this day, there are 38 months of inventory, and pricing is expected to come down. Make sure you head to my website to sign up for new property notifications and price changes to keep up with the market changes. For more detailed information, like how to best negotiate during these market conditions or how to compete for a buyer, contact me directly.
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