In my opinion, the key statistic to look at when you assess the local real estate market is inventory. Currently, the Naples area has just over 5,000 listings for sale. At one point several years ago, we had below 4,000 listings for sale. These listings include condos and single family homes in the Naples area. This listing inventory puts us in a nice position. There are many areas around the country that are currently experiencing a shortage of inventory.
With a strong buyer demand and a shortage of inventory, the tendency is for prices to rise. With a large amount of inventory and weak buyer demand, the tendency is for prices to fall. This is called the economic theory of supply and demand. Many people feel right now that we have a balanced market. By this you would say that it is not necessarily a buyer’s or seller’s market.
Many real estate experts in the local area feel that our supply is in a pretty good range. It is not too high and not too low. The mixture between condos and single family homes is fairly evenly split with slightly more condos for sale at the moment.
As we enter our summer season, the feeling is that the buyers in the summer of 2018 will have a nice selection of properties to consider. The inventory is plentiful in all price ranges. Once again, this is not the situation in all markets around Florida. We are fortunate to have a nice inventory of properties for sale in the Naples area.
The winter visitors certainly purchased a lot of properties in Naples Florida this past winter. However, this did not create much of a dent in the amount of inventory as new listings continue to come onto the market.
So, whether you are looking for single family homes for sale in the Naples area or condos for sale in the Naples area, we have a nice inventory of listings available. For those looking to purchase a piece of paradise, this is a golden opportunity. We hope that you become our neighbor!
Mike Hughes, Vice President
Downing-Frye Realty, Inc.
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