Hello Naples Friends!
If you remember, I did a Naples inventory update back in November of last year. It's time to check out how each Naples neighborhood performed during the 2017-2018 season! Here we go!
Naples neighborhoods where inventories are UP.
- Pelican Bay sits at 7. Up 2 since November.
- Park Shore sits up 1 now at 9.
- Tiburon up 3 currently sitting at 12.
- Vanderbilt Beach up 2 sitting at 10.
- Pelican Marsh up 2 now at 10.
- Old Naples up 3 sitting at 12.
- Naples Cay up 5 now at 15.
- Pine Ridge up 2 with 12 months.
- Aqualane Shores up 8 now at 20.
- Port Royal is up 2 with 18.
- Quail West is up 3 with 15.
Naples Neighborhoods where inventories are the SAME.
- Royal Harbor 6 months.
- Mediterra 14 months.
Naples Neighborhoods where inventories are DOWN.
- Grey Oaks Down 3 sitting at 6.
- Moorings Down 2 at 7.
- Audubon Naples Down 3 now at 15.
- Collier's Reserve Down 2 sitting at 12.
- Talis Park dropped 5 sitting at 15 months.
Biggest Loser?
Is it Aqualane Shores with 20 months of inventory? Nearly half the inventory is less than 90 days old dropping the average consecutive market time down 62% compared to what sold over the last year. That pretty new construction is available at a pretty price too but it isn't stopping properly priced product from selling.
Roughly half of what sold experienced a price drop this year and nearly half of what is on the market has too. People haven't been negotiating enormous amounts at the closing table either. In fact, there are only 3 parties who negotiated more than 10% off the list price and the average discount is only 6% off list. When the 7 pending properties close that could drop inventory all the way down to 13 months, just one month higher than where it was last November. The verdict is still out for Aqualane Shores.
Biggest Winner?
Grey Oaks has experienced 28 more sales this year compared to the year before which is outstanding. List prices are up 8% over what sold last year but so is market time now showing an increase of 6%. With only 4 pending properties though it may be that either the run closed well before the end of the season or buyers are digging their feet in a little with the recent bump in price.
Then What?
If Aqualane Shores isn't the biggest loser and Grey Oaks isn't the biggest winner then what is? Hire me and find out. People looking in all of the same places without regard to what else is available could be missing out big time this year. If you're working with me, you'll know all of your viable options and can choose accordingly.
If you're thinking about selling, throwing it in MLS is not enough. Ask me how I put a property under contract in 43 days in a neighborhood that had an average consecutive market time of 535 days when it went on the market. Was it price? No, because my listing was the highest priced per square foot home on the market. My strategy was hardcore and the results were massively successful.
Ok, that's all for now. Let me know how I can help you out.
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