Moorings Naples, Florida Real Estate Forecast 2019-2020

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Moorings Naples, Florida Real Estate Forecast 2019-2020

In the seventh edition of my series, The 2019-2020 Naples Real Estate Forecast, I’ll be talking about the Moorings Naples, Florida real estate forecast for 2019-2020 and what it means to you if you’re thinking about buying or selling Moorings real estate this year.

If you think a little hotel with the backing of a brand like Four Seasons doesn’t help a market out, think again. The Athen’s Group gained City Council’s approval for the new hotel and condominium project at the end of this past season and currently, there are 22 homes and condos under contract. That’s a massive statement for this time of year.

In This PostMoorings_Condos

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

Moorings Inventory Levels

• Current – 6 months
• Projected – 8 months
• Last August Report – 5Sancerre at Moorings

If you think a little hotel with the backing of a brand like Four Seasons doesn’t help a market out, think again. The Athen’s Group gained City Council’s approval for the new hotel and condominium project at the end of this past season and currently, there are 22 homes and condos under contract. That’s a massive statement for this time of year.

Moorings Fast Facts

• Sales volume is up 12% compared to the past year.
• Average price per foot is up 8% compared to last year.
• List prices are up 3% compared to what sold during the past year.

While these Moorings real estate figures are impressive, I’m a little concerned about the shadow market in Moorings. Currently, there are 58 properties that could find their way back on MLS this next season but that will only bump inventories to 8 months. While this still puts the Moorings market in a state of undersupply, inventories could be higher than in recent years.

New Construction in MooringsMoorings-Real-Estate

New construction inventory in Moorings was at 3-year levels last year. This year we’re currently at 6 months. We can expect it to rise a little but this is going to make finding a great new home a little more challenging than last year. For those die-hard buyers who only want new, they’re going to find more buyer competition and considerably fewer options.

Average sales prices are up 8% compared to the last year and the interest in Gulf Shore Blvd. properties is unreal check this out:

• Active 43
• Pending 10
• Sold past year 107

Selling Your Moorings Property?Carriage Club at Moorings

Last year when I said, “If you have a condo in original condition or on the smaller side, you should do really well.” I also expected inventory in new construction to burn off and here we are. I was right all along. Hahaha, It’s going to be a little more challenging for you this year and owners find their happy balance between market price and fruitful showing traffic.

Choose an agent with experience who know the signs of missing the mark. Sometimes properties are priced so out of line traffic is just plain dead. That’s a really unhealthy sign. Do you know what to do if you’re getting decent traffic but no offers? I can give you a clear and concise selling philosophy that works every time! Call me and let’s discuss it.

Buying Property In Moorings?

Teardown opportunities priced under $1,000,000 are back suggesting the enthusiasm to spec out new construction is fading. This is great news for those of you who want to build your own new home but maybe not the greatest time to spec. out for investment.

Buying New Construction in Moorings?Moorings Homes

If you’re thinking Moorings new construction, I’d put that deal together sooner than later. As markets turn, availability goes down and you may find yourself in a holding pattern with increasing pent up demand making it even more challenging to negotiate.

There’s always a group of people who just adore that new home smell. In a market like Naples, most home buyers have already experienced the trials and tribulations of building new or orchestrating a massive remodel. Some vow to never do it again and will pay a premium if they don’t have to endure another new construction experience. As markets turn skepticism of paying huge premiums kicks in and some owners opt to go down that road again if it means they’ll save the cost.

I’m already hearing from individual owners who are talking about building their own new home. This trend could make those great priced tear-down lots pick up a little. Keep your eyes open!

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 Moorings or other Naples beachfront communities, we’ll take great care of you! If you have additional questions, want to know what your Moorings property is worth or you’re ready to buy some terrific Moorings real estate, contact me today!

Best Regards,

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

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