Collier’s Reserve Naples, Florida Real Estate Forecast 2019-2020

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Collier’s Reserve Naples, Florida Real Estate Forecast 2019-2020

In the fourth edition of my series, The 2019-2020 Naples Real Estate Forecast, I’ll be talking about the Collier’s Reserve Naples, Florida real estate forecast for 2019-2020 and what it means to you if you’re thinking about buying or selling Collier’s Reserve real estate this year.
Collier’s Reserve has been on a bit of a ride over the course of the past few years mostly because several owners sold out of the neighborhood opting for retirement living and leaving their original condition homes in the hands of some new younger buyers. Serious discounting followed as new buyers were tasked with bringing homes built in the ’90s into the aesthetic value of the current decade.
A glut of tremendously priced inventory created a brief stir of buying activity causing some great sales results not only on the lower-priced product but all the way to the top of the Collier’s Reserve market.
Selling traffic slowed once news dropped of some increased golf membership fees hit the streets and slowed sales through the beginning of 2019 as owners wrestled with how to handle the response. Activity picked up again as owners decreased pricing to combat the negative impacts of the fee increase. As a result, the average sales price of the properties sold before the fee increase is about 5% higher compared to those sold after.

In This PostCollier's Reserve

  • Current Collier’s Reserve inventory levels
  • Projected inventory levels
  • Comparison of last year’s inventory report
  • What sellers can expect
  • What buyers can expect

Collier’s Reserve Fast Facts

  • Current – 11 months
  • Projected – 14 months
  • Last August – 5 months

Collier’s Reserve is seeing a creep up of inventory and if my projections on inventory are accurate, interest in that current 4% increase in the list price is going to be unpopular this year. Here are 3 factors proving buyers are wary of the current property values.

    • 50% increase in days on market.
    • Inventory has more than doubled compared to this time last year.
    • 37% decrease in sales volume compared to the year before

Collier’s Reserve Silver LiningCollier's Reserve Sales

  • The average sales price has shot up 16% compared to the year before.
  • Some of the inventory that sat on the market on average of 848 days is pending!
  • List price to sales price ratio remains the same at 94% compared to last year!

Selling your Collier’s Reserve Home?

Prices went up and now they’re on their way back down with more than half the currently active homes dropping their price off from the original ask. If Collier’s Reserve pops up to 14 months of inventory, we’re likely going to see more softening but if your number makes sense, you should do pretty well. The folks who are going to do the best are the nimble ones who can react to intelligent buyers. We saw some terrible low-ball offers here last year I talk about in this post. Some of those buyers are still eye-balling Collier’s Reserve so don’t be surprised if it happens to you too. There are ways to salvage a low-ball offer. We did it a few times this year. Ask me how you can capitalize on selling your Collier’s Reserve home.

Buying a Collier’s Reserve Home?Collier's Reserve Homes

Much of the really low priced gut opportunities are gone but there are some nice homes on the market. Remodeled homes are very hard to come by so if you see one you like, be prepared to pay a premium. If you don’t mind doing the work yourself, there are options for you too and you might get a nice discount depending on the motivation of the seller. The best way to do this is to sign up for my Collier’s Reserve listing updates where you’ll be alerted to new listings and price changes.

Prices have been dropping with more than half the current inventory adjusting down which is a typical response when buyers balk at fees.

Special note: Collier’s Reserve residents are HARDCORE about knowing their property values and their neighbors’ property values. They talk about it A TON. Walking in blind with a terrible offer is going to get around the neighborhood. I talk about it here. I’d refrain from writing low-ball offers in Collier’s Reserve if I were you.

In Closing

I hope you’re enjoying my series on the Naples Real Estate Market Forecast for 2019-2020. If you’ll allow us to assist you with any of your buying and selling needs in Collier’s Reserve or other Naples luxury communities, We’ll take great care of you!

Best Regards,

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

 

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