Hey Grey Oaks Enthusiasts! It’s time for a Grey Oaks real estate update! Let’s get started.
- Active 44 $719,900-$9,995,000
- Pending 18 $999,990-$5,995,000
- Closed Past Year 71 $675,000-$8,795,000
- Average List $3,018,345
- Average Closed $2,184,049
- Average List Price to Close Price Ratio 92%
- Average Days on Market Closed 169 Days
- Average Days on Market Listed 219 Days
There are only 7.5 months of inventory on the market in Grey Oaks with 18 pending contracts right now. Buyers are reacting well to the new amenities and price cuts over the course of the last year or so which is causing a portion of the market reason to believe now is a good time to sell.
14 of the 44 active listings are within 60 days old so it’s worth taking a peek at the Grey Oaks listings to see if there’s something worth checking out in person.
Buyers have good reason to be agreeable! Even with lower inventories, prices are on average are 11% lower than they were when I gave my Grey Oaks Real Estate Update last January. You can expect there to be a portion of sellers who will prove their desire to sell before the end of the season. 6 price reductions have been made already this month. Don’t be overly confident though. Other buyers are in the market buying and even though the average list price to sales price ratio is 92% only a very small handful of listing traded at 86% of list or less suggesting the reductions were done on the front end before the deal.
Another talking point buyers have is the increase in market time which is up 29% compared to those closed during the past year.
Not all news is good news for buyers right now. Don’t be surprised if you hear of lots of showing traffic. Activity like that is happening all over our favorite areas of town and should not be taken as some cheap trick to get you to the table. If you like something, strike at it. This is not the year where guaranteed slashing will take place after May.
Grey Oaks opportunities are all over! Here are where you can find some great deals:
Grey Oaks Top Performing Markets Where We Need Listings!
- Banyan Island – 2 sold, 3 under contract and one left!
- Capistrano – 1 sold, nothing available!
- Isla Vista – 3 closed only 1 active!
- Isle Royale – 1 sold, 0 available!
- Venezia – 1 pending, 0 available!
Grey Oaks luxury homes $5,000,000 and over are still showing a little trouble with 2 years of inventory on the market and an average market time of 463 total market days for active listings. That’s up substantially compared to those sold during the past year.
The question: Do I wait until they drop the price or do I negotiate today and hope they come down? 3 of the 4 properties listed North of $5,000,000 closed during the past year sold South of 90% list to sales price ratio. If you want the best shot, negotiate now.
Some of the best-valued Naples golf course homes have already gone under contract all over Collier County like that one brilliant deal in Estates at Bay Colony That knock out deal was only on the market 11 days before capturing a ready, willing and able buyer which proves if it’s priced at a value a buyer can understand, it will sell in today’s market.
There is one more incredible knockout deal in Quail West you should call me about if you’re in the market for a golf course estate.
Talking about deals, we’re now at that place during the year where it’s not uncommon for people to do sizeable reductions to be sold quickly. Some enter the market at remarkably lower prices. With all of the automated services alerting buyers, your reaction time means everything to getting your deal. If you aren’t working with an agent, call me. I can alert you the moment something amazing hits giving you the most time to react and the best shot to win.
That concludes my Grey Oaks Real Estate Update. I hope you found the content informative. Please pass it along to someone you think may like it and call me if I can assist you to buy or sell Naples luxury real estate.
Shannon Lefevre, PA
Your Naples Smart Girl!
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