Grey Oaks Naples, Florida Real Estate Forecast 2019-2020
In the fifth edition of my series, The 2019-2020 Naples Real Estate Forecast, I’ll be talking about the Grey Oaks Naples, Florida real estate forecast for 2019-2020 and what it means to you if you’re thinking about buying or selling Grey Oaks real estate this year.
Grey Oaks is starting to see some effects of a slowing market as recent sellers haven’t been able to get as much at the closing table as some of their neighbors who sold the year before. There’s a 5% drop in sold price per foot statistics compared to last year but that’s not all.
In This Post
- Current Grey Oaks inventory levels
- Projected inventory levels
- Comparison of last year’s inventory report
- What sellers can expect
- What buyers can expect
Grey Oaks Inventory
- Current – 10 months
- Projected – 14 months
- Last August – 7 months
Grey Oaks Fast Facts
- List price to sales price ratio dropped from 94% to 93%
- Days on market increased 61% compared to what sold during the past year.
- Sales volume dropped 29% compared to the year before.
With continuous days on the market kissing 300 days, I’d say it’s time for some Grey Oaks homeowners to shake it up a bit by maybe not choosing the agent who promises the highest returns. Today’s Grey Oaks buyer is not interested in that 12% average price increase showing with active listings today. 16 of the 48 active properties have adjusted their price down from their original ask and with only 2 pending in the entire neighborhood, we’re going to see more reductions this season. Some of these sellers are already on their 3rd real estate agent (a common occurrence as a market starts to slide south) Hard swallow Grey Oaks owners…it could be your price preventing the sale and not the agent’s efforts.
Selling in Grey Oaks?
You have a great vantage point as some of your neighbors refuse to see reality with a new slower and more finicky buyer. While competition is getting tougher, you are not battling for a buyer with a bunch of aggressive sellers at this point, If you price your property correctly and implement a great marketing strategy, you could win bigger and faster than some of your neighbors. 20 out of the 57 homes sold during the past year sold in under 100 days. 9 homes sold took well over a year. 11 homes are currently on the market with well over a year of market time.
Buying in Grey Oaks?
Happy days are here again for you as some of your soon to be new neighbors built buying muscle for you over the past year. The seas are parting with some sellers responding well to a new market while others remain a little tight to negotiate down. Don’t be surprised to find a wide array of sellers with different levels of motivation in Grey Oaks this year. Some are going to be motivated to negotiate and realistic while others are going to stay stiff. This is going to become more apparent as new inventory hits the market this pre-season.
If you want to capitalize on getting the best deal or the most terrific property in Grey Oaks, your best bet is to sign up for Grey Oak listing updates where you’ll get new listing alerts and price drop notifications. Some of your competition has already signed up so you might as well sharpen your chances too.
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 Grey Oaks or other Naples luxury communities, We’ll take great care of you!
Shannon Lefevre, PA
Your Naples Smart Girl!