Grey Oaks Forecast Season 2022-2023

Hello Golf Enthusiasts,

Today I’m covering what many consider the ultimate golf course community of Naples, Grey Oaks. This golf course community offers three 18-hole golf courses and a wide array of popular amenities. This marks the sixth edition of my 2022-2023 Naples real estate forecasts for all of my favorite Naples neighborhoods. Yesterday, I covered the Coquina Sands Real Estate Forecast. Today, I’ll explain the real estate market, where it might be headed, and what it means to you if you plan on buying or selling this year. Here’s my Grey Oaks Forecast for Season 2022-2023.

In This Post:

• The One Big Talking Point
• Current Grey Oaks Market Statistics
• Projected Inventory Levels
• Comparison of past inventory reports
• What to expect

The One Big Talking Point

I’m starting to see a few signs of weakness when it comes to the Grey Oaks real estate market. Active market time has doubled compared to what has closed. List prices have dropped an average of over 3% compared to the original prices. New listings are hitting the market lower than properties that haven’t sold. Half of the active listings have dropped prices, suggesting buyer fatigue is real in Grey Oaks. Additionally, buyers have gotten a bigger break at the closing table this summer by negotiating an additional 1% off the asking price compared to what closed earlier.

Current Grey Oaks Statistics

Current Inventory – 10
In my Inventory Report on June 21st, Grey Oaks had three months of inventory, compared to less than one month of inventory reported last November. Today, there is just over two months of inventory.

Here are the details:

May Closings
2021 – 10
2022 – 10
June Closings
2021 – 8
2022 – 6
July – Closings
2021 – 5
2022 – 3
August Closings
2021 – 4
2022 – 2 (Projected)

There were 27 sales in Grey Oaks last May through August compared to 21 (projected) sales during the same time this year. Grey Oaks was doing a pretty good job keeping pace compared to last year, as seen in May but has been losing steam ever since. Last September, there were five closings. With only two pending, Grey Oaks might continue this trend until at least pre-season. August and September are traditionally Naples’s worst two real estate months of the year. Back-to-school activities, afternoon showers, and the occasional severe weather threat can impact.

Speculative purchases were definitely on the rise, and dreams of doubling values or garnering ginormous returns are fading. In fact, one current listing is priced so similarly to what the sellers paid not too long ago that it is dangerously close to not netting out. Once we get to this point, the question becomes will the seller take a loss or hold out in hopes of a higher price and risk the chance of losing even more.

Projected Inventory Levels

We can expect more inventory this upcoming season if this little wiggle continues. The ultimate question is whether it will be enough to see a real shift down in values. There’s a big debate amongst us REALTORS right now. Some say, “We’re just having a normal summer. The market will light on fire as soon as season hits again.” The other side thinks it’s something a little more serious. Time is going to clear up the debate soon enough.

What To Expect

Selling?

If you’re ready to sell your Grey Oaks home or condo, now is the time to do it. I would list sooner than later based on what I see. Successful marketing and selling strategies will be more important this year, and some agents haven’t kicked into gear yet. List with the agent who answers their phone. The ultimate representative is an agent who can accommodate all showings and will take the extra initiative with marketing, staging, and negotiation skills to get your buyer to the table. Newer agents who haven’t learned these skills still expect offers to fall in their lap.

Now is the time to take care of maintenance matters that can help you achieve your highest return. Call me if you do not have the time or manpower to accomplish those objectives. I have a proven vendor list who can handle everything your property may need to position it at the highest price possible.

Buying?

There are some terrific offerings in Grey Oaks. If buyer activity has slowed down, now is the perfect time to see what you can accomplish. Once October rolls around, you can expect more foot traffic with competing buyers, and sellers may not be as willing to negotiate as they may be today. Price reductions are nice, but pre-negotiations are more telling. Ask me how to accomplish an effective pre-negotiation to uncover your best opportunity.

I hope you enjoyed my Grey Oaks Forecast For Season 2022-2023. Call me with your questions and objectives or shoot me a text or email.

Next up, is Gulf Shore Boulevard Forecast For Season 2022-2023.

Best Regards,

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

Grey Oaks Forecast Season 2022-2023