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1st Week of Pre-Season in Naples, Florida

By
Real Estate Agent with John R. Wood Properties

Good Morning Naples Enthusiasts!

Everybody wants to know how the Naples Real Estate market is going to perform this season. The copy-cat canned response has formulated. Here's how it goes:

"Naples endured a category 3 storm head-on. Much of our structure remained sound with landscaping being the biggest victim. We will get that cleaned up and then people will marvel at how well Naples performed in the wake of what could've been impactful destruction."

I don't think that is as telling as real statistics so let's get started.

Here are the stats:

  • New Listings 230
  • Closed Sales 194
  • Terminated Listings 36
  • Expired 54
  • Back On Market 45
  • Extended 83
  • Pending 133
  • Price Increase 17
  • Price Decrease 151
  • Withdrawn 57

In short,

  • 474  properties went off the market.
  • 275 properties went on the market.

Here's what Naples did last year during the same week.

  • New Listings 497
  • Closed Sales 153
  • Terminated Listings 77
  • Expired 106
  • Back on Market 61
  • Extended 151
  • Pending 236
  • Price Increase 69
  • Price Decrease 318
  • Withdrawn 47

In short,

  • 383 properties went off the market
  • 619 properties went on the market.

October is a HUGE month for Naples real estate. If there was ever a shotgun start for a real estate market, the first week of October is it! Typically our inventories grow at neck breaking pace...but not this year.

I have clients who have waited years for something specific to hit the market. They like many, sit on the edge of their seat ready to pounce on new, fabulous product. This week has been a bit of a letdown. Will this be the year without a Santa Clause? I doubt it, but new listing Christmas is coming later this year for sure.

How will the current trend affect Naples real estate?

Naples real estate buyers have remained largely unaffected as far as what we personally see and what we're hearing from other agents around town. My team lost 1 buyer through the recent turn of events.  Another changed his direction and is purchasing something different than originally planned. Other than that, everybody else is on board and prepared to purchase this year.

Sellers are not running to the listing table this year so far. That could pose inventory problems and those inventory problems usually fall on the shoulders of our buyers. If we burn through our current inventory this pre-season, that could cause prices to go up again!

There are a few factors to consider.

  • While our snowbirds are starting to trickle into town, many more are planning their arrival for later this month. Many people don't like to go on the market until they get here.
  • It's still pretty warm up north with many of our feeder markets experiencing 60's 70's and even 80-degree weather. Many don't come until it gets too cold to handle. Others don't come until the snow and ice hits. None of that has occurred (except in the mountains) this year.

Buyers right now have the time and desire to actually come down to see, touch and feel what they're buying. I haven't had a great deal of interest in purchasing site-unseen just yet.

Some sellers are waiting for landscaping removal. I'm seeing a huge improvement on that in Pelican Bay and other coastal neighborhoods as well.

One thing is for sure! If you see something you like, don't wait. There's no guarantee another equally appealing property is hitting the market anytime soon!

Our activities are starting to ramp up! If you're coming this month, you'll want to check out what's going on around Naples! The Purple Party Masquerade, Naples International Film Festival and more golf events than any pro can handle!

For more information about Naples real estate, call me today!

 

 

Posted by

Serving my purpose through content-rich information about Naples, Florida real estate!

Best Regards!

Naples Real Estate

Shannon Lefevre, PA
Your Naples Smart Girl!
239-595-6223

“The opinions expressed herein are those of the author and do not necessarily represent the views of John R. Wood Realtors.”

 

Comments (11)

Matthew Klinowski, PA
Downing Frye Realty - Naples, FL
Naples Golf Guy | Find Your Dream Lifestyle

Nice market review Shannon! Hope all is well.

Oct 09, 2017 04:45 AM
Shannon Lefevre

Matthew! So good to see you! :)


 

Oct 09, 2017 06:00 AM
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Shannon Lefevre great information for buyers and sellers in your area.

Oct 09, 2017 05:46 AM
Shannon Lefevre

Thanks Anthony! :)


 

Oct 09, 2017 06:01 AM
Abby Stiller
TOP SELLING REALTY - Cape Coral, FL
SW Florida (239) 284-8637

Great to see our SW Florida area still going strong  Shannon Lefevre 

Oct 10, 2017 03:10 PM
Shannon Lefevre
John R. Wood Properties - Naples, FL
Shannon Lefevre, PA Your Naples Smart Girl

Abby Stiller I know right?! It's amazing how fast everything bounced back! We are lucky and resilient!

Oct 10, 2017 04:02 PM
Roy Kelley
Retired - Gaithersburg, MD

Home buyers and home sellers will be in very good hands when they use your professional real estate services.

Oct 11, 2017 03:27 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Shannon.  It is quite remarkable how well you survived a head-on major hurricane.

Oct 12, 2017 05:55 AM
Shannon Lefevre
John R. Wood Properties - Naples, FL
Shannon Lefevre, PA Your Naples Smart Girl

Gabe Sanders I know right?! We were lucky and smart with all of our tough building codes and great construction! Whooohoooo!

Oct 12, 2017 06:30 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Shannon, that is exactly how our frenzied market started.  Sellers waiting to list.   Get ready for a strong Seller's market!  

Oct 15, 2017 05:48 AM
Shannon Lefevre
John R. Wood Properties - Naples, FL
Shannon Lefevre, PA Your Naples Smart Girl

Joan Cox YES! When Charlie hit we had one of the best years in the history of Naples! I'm so excited to see how this shakes out!

 

Oct 16, 2017 06:02 AM