Naples Inventory Report 12/09/20

Many of you have asked about the Naples real estate market and what should be expected for this upcoming season. The outlook appears to be slanting considerably more towards a Seller’s market, and many buyers will find themselves without something to buy. The good news for buyers is that many sellers have kept their senses and are pricing properties fairly for their potential buyers.

Today, I’ll give a brief description of what the Naples inventory report looks like to help you understand your position as a buyer and/or a seller. Long story short, if you’re buying, I’d do it sooner than later if your goal is to accomplish a fabulous purchase!

Aqualane Shores

21 Active
10 Pending
38 Sold

There are less than 7 months of inventory available in Aqualane Shores. In my Aqualane Shore market report in August 2019, we had 9 months of inventory, and levels were expected to rise to 16 months during pre-season 2019. No substantial inventory is expected to hit the market this year because more properties stayed on the market this summer and already sold.

Buyers: The Aqualane Shores market is doing well but not moving quite as fast as some other luxury locations throughout Naples. Prepare to strike quickly if good price reductions occur, exceptional properties hit the market or if properly priced new listings appear. If you haven’t signed up for new property notifications, you should do it now.

Sellers: Some of your neighbors are a little overconfident about today’s values. If you intend to sell for a good price this year, do not follow suit. This could stall out the neighborhood and prevent you from accomplishing your objectives. Buyers are hungry, but they aren’t stupid, and in many cases, they can play the waiting game longer than you may want to participate.

Audubon

13 Active
3 Pending
44 Sold (12 mo.)

There are 3.5 months of inventory currently listed in Audubon. In my Audubon report in August 2019, we had 14 months of inventory, and levels were expected to rise to 16 months pre-season 2019. No substantial inventory is expected to hit the market this year because more properties stayed on the market this summer and already sold.

Buyers: Audubon homes priced well are selling as fast as 1-2 days. If you like this neighborhood and you see something you like, you need to strike immediately. Ask me how to do this safely if you are not in town to purchase. Peak season pricing will likely be higher than now.

Sellers: Now is the time some sellers go crazy with values and expect more than their properties are worth, which can prevent homes from selling even in crazy markets like this. Agents are also extremely busy and tend to focus less on the quality of marketing due to overconfidence. List with a boss who can help you get your deal done!

BAY COLONY

28 Active
10 Pending
49 Sold (12 mo)

There are less than 7 months of inventory listed in Bay Colony. In my Bay Colony report in August 2019, there were 9 months of inventory, and levels were expected to rise to 12 months pre-season 2019. No substantial inventory is expected to hit the market this year because more properties stayed on the market this summer and already sold. There are many discrepancies in inventory levels between multi-family and single-family product and location. Call me today to get the details.

Buyers: If you’re buying in Bay Colony this year, there are already people waiting for areas like Bay Colony Shores who are relying on my inside track. If you are planning a purchase there, you should call me directly now. Prepare to have a condo explosion of activity starting in January and expect to see several units go under contract including our magnificent offering in Salerno at Bay Colony. Your best bet is to buy before the end of the year. Single-family enthusiasts in Bay Colony golf estates can likely purchase with more ease.

Sellers: Properly priced product is selling very quickly, sometimes within 24 hours. Be prepared to move if you price wisely. Agents are also getting extremely busy. Do not let your agent short cut the amount of marketing they create due to time constraints and overconfidence. I am already seeing buyers hesitate because they cannot see photos, floor plans, and more. Many buyers will be purchasing from afar this year, so choose an agent who can market to them.

COLLIER’S RESERVE

5 Active
1 Pending
18 Sold (12 mo.)

There are 3 months of inventory in Collier’s Reserve. In my Collier’s Reserve report in August 2019, 11 months of inventory existed, and levels were expected to rise to 14 months pre-season 2019. No substantial inventory is expected to hit the market this year because more properties stayed on the market this summer and already sold. Pricing is on the rise.

Buyers: If you’re buying in Collier’s Reserve this year, there are already buyers bird-dogging current availability, and new listings may be a serious challenge to find. Protect yourself by purchasing now. Ask me how.

Sellers: If you’re selling this year, time to hit the market with an excellent online strategy. There will be buyers purchasing without coming to town. This is not a time to hire agents who do not offer online resources to those buyers. Ask me more about this.

GREY OAKS

23 Active
13 Pending
79 Sold (12 mo.)

There are 3 months of inventory in Grey Oaks. In my Grey Oaks report in August 2019, there were 10 months of inventory, and levels were expected to rise to 14 months pre-season 2019. No substantial inventory was expected to hit the market this year because more properties stayed on the market this summer and already sold. Exceptional properties, along with well-priced properties, are selling as quickly as the same day. Prices are going up.

Buyers: If you’re purchasing in Grey Oaks this year, buyers are bird-dogging current availability and scouring new listing and price reduced properties. If you haven’t signed up for new property notifications, do it now. If you see something you like, strike. If you’re doing it from afar, ask me how to protect you from making big mistakes. You’re going to want to do some extra due diligence regarding the club. Ask me why.

Sellers: Many neighbors are overpricing their properties, causing stalls in sales. Agents will over quote your property values to get your listing. Ask for proof of value! Overconfident agents also drop expensive marketing services, like floor plans and tours that help out-of-town buyers select. If it isn’t at their fingertips, buyers are going to move on from considering your property. Buyers will be buying here and afar this year. List with an agent who can capture both audiences. Ask me about this!

MEDITERRA

45 Active
18 Pending
64 Sold (12 mo.)

There are 8 months of inventory in Mediterra. In my Mediterra report in August 2019, there were 14 months of inventory, and levels were expected to rise to 16 months pre-season 2019. No substantial inventory was expected to hit the market this year because more properties stayed on the market this summer and already sold. Prices are going up.

Buyers: If you’re purchasing in Mediterra this year, the best properties are selling in a day or less, but 4 listings have hit this week, which means sellers are keen on the idea of capitalizing on current values. This is a location where you want an agent representing your best interest. Make sure you understand values, and you are not overpaying unless you don’t care. This could be when you have to make extremely reasonable offers and be prepared to walk if the Seller wants too much. There will likely be after season buying opportunities here as well.

Sellers: This is a great time to get a great price on your property, but there is a pretty big ribbon of overconfidence in Mediterra right now. Don’t overshoot. Too much of that is going to cause a development wide stall, as historical facts have proven. If your objective is to get a great price and move, beware of agents who will overprice your property to get your listing only to talk you down after you’re under listing contract. This is an AWESOME time to price well and garner enough attention to attract a buyer competition instead. Ask me how.

MOORINGS

87 Active
52 Pending
243 Sold (12 mo.)

There are 4 months of inventory in Moorings. In my Moorings report in September 2019, 6 months of inventory existed, and levels were expected to rise “a little.” No substantial inventory is expected to hit the market this year. More properties stayed on the market this summer and already sold—6 properties currently pending sold in 4 days or less. Prices are going up.

Buyers: If you’re planning on buying in Moorings this year, you’re going to have to act very quickly on properly priced properties and exceptional properties. Also, sign up for new property notifications as I expect to see some price reductions as we roll into the season. There will likely be after season buying opportunities here if you are not prepared to act quickly.

Sellers: Agent competitions are causing some to overvalue pitches to get your listing contract. Ask for proof. Also, busy agents cut corners on online marketing features, which will prevent those not planning on coming to Naples to purchase. Larger than normal quantities of out of town buyers are expected. Virtual tours and exceptional online marketing for the highest level of buying traffic are the best way to garner all active buyers’ attention.

Naples Cay

12 Active
7 Pending
13 Sold (12 mo.)

There are less than 12 months of inventory in Naples Cay. In my Naples Cay report in September 2019, 16 months of inventory existed, and levels were expected to rise to 36 months pre-season of 2019. This year, little inventory is expected to hit the market because more properties stayed on the market this summer and already sold. 2 of the 4 properties currently under contract sold within 6 days of listing. This market is presently stable.

Buyers: This is a market to watch through property notifications. New listings priced well should pop while those higher-priced properties will sit like much of what is currently listed. Be prepared for some price reduction activity throughout the season as those who are motivated to sell price drop.

Sellers: Careful of overpricing here. When whole developments get overconfident, buyers go elsewhere.

OLD NAPLES

108 Active
51 Pending
218 Sold (12 mo.)

There are 6 months of inventory in Old Naples. In my Old Naples report in September 2019, 7 months of inventory existed, and levels were expected to rise to 12 months pre-season of 2019. Little inventory is expected to hit the market this year because more properties stayed on the market this summer and already sold. Only 2 of the 34 pending contracts sold in a day or less, suggesting the market is a little more relaxed than some of the other Naples luxury locations I’m reviewing today.

Buyers: Old Naples tends to be a hot high-season market, and with only 6 months of inventory with little expected to hit the market between now and January, this could pose a problem. About 20% of the market is playing the odds, so expect to see some discounting throughout the season but don’t expect widespread reductions. Your best opportunities might come from new listings that enter at good prices and those price reductions. Sign up for notifications to get alerts.

Sellers: This is an awesome time to sell so far, and some of your neighbors are getting a little crazy on pricing. Don’t get sucked into it. The market is competitive, and some agents will overvalue your property to get your listing. Ask for proof of value. Old Naples agents are doing a pretty good job marketing properties in Old Naples right now. Ensure you’re hiring a good agent who knows how to market your properties both in-person and online, as we will have more than our share of off-site buyers. Want to know more? Call me.

PARK SHORE

126 Active
59 Pending
266 Sold (12 mo.)

There are 5 months of inventory in Park Shore. In my Park Shore market report in October 2019, 6 months of inventory existed, and levels were expected to increase to 7 months pre-season 2019. Little inventory is expected to hit the market this year because more properties stayed on the market this summer and already sold. A deficient percentage of pending sales have sold within 5 days.

Buyers: Park Shore is another high traffic neighborhood during our high season, even though we have seen enormous traffic this pre-season. I already have buyers scouting for new listings and waiting to strike on something that is priced well and looks great. If you’re looking for that too, sign up for notifications, or better yet, let me know about you so I can contact you when I learn about new inventory before it hits the market. You can expect some reductions throughout the season as some are already priced too high for current demand. Some of these reductions will be great, and you aren’t going to want to miss them.

Sellers: Don’t fall for the same overconfidence some of your neighbors have by overpricing. The market is great, and if you price well, you could easily encounter a buyer competition which could net you more than overpricing and hoping for an uneducated buyer. Ask for proof from your listing agents on value. We will also have a fair amount of absentee traffic who will write contracts without seeing your Park Shore property. Hire an agent who knows how to expose your property to absentee buyers effectively. Many buyers are calling their own shots even when they’re in town. If your marketing is terrible, your buyer traffic will be too.

PELICAN BAY

Active 142
Pending 66
Closed 371

There are less than 5 months of inventory in Pelican Bay. In my Pelican Bay market report in October 2019, 7 months of inventory existed, and levels were expected to increase to 10 months pre-season 2019. Little inventory is expected to hit the market this year because more properties stayed on the market this summer and already sold. 10 properties have pended contract within 6 days of hitting the market, which means a good group of people are watching and waiting to buy. I personally put 2 buyers under contract within the first day of properties hitting the Pelican Bay market because they were ready to strike when properties they liked hit.

Buyers: Pelican Bay heats up dramatically during high season. If you aren’t signed up for property notifications, you should be. Price reductions and priced well new listing activity are strong, and you don’t want to miss alerts. Several other buyers are already signed up are and don’t waste time requesting more information once notices are sent out. I am seeing a mix of behaviors right now. Those who stall are losing, and those who go for it are winning. Ask me about this and I’ll explain further.

Sellers: While we expect a great turn out this season, not all buyers will come to town to purchase this year. Your online marketing should be exceptional if you want to capture all interested parties’ attention, increasing your chances of the highest offers and best terms. Ask me how to do this most effectively.

PELICAN MARSH

35 Active
18 Pending
152 Sold

There are less than 3 months of inventory in Pelican Marsh. In my Pelican Marsh market report in August 2019, 6 months of inventory existed, and levels were expected to increase to 9 months pre-season 2019. Little inventory is expected to hit the market this year because more properties stayed on the market this summer and already sold. This summer, we had 8 offers within the first few days on the market, with the winning buyer purchasing site unseen for full price without any contingencies. Prices are increasing!

Buyers: 6 out of the 18 pending sold within the first 8 days of the list. This market is ultra hot! Still, about 1/3rd of the market should reduce price sometime within the next few months. Sign up for property notifications to see price reductions and great new listings. 3 of the then-pending properties sold the first day. You will not want to miss terrific offerings!

Sellers: Most of the Pelican Marsh agents have gotten WAY better at marketing listings. Unfortunately, there are still a few who are really bad at marketing online. Make sure you hire an agent who knows how to market your property both online and offline effectively, especially this year since there will be more off-site buyers who will make good offers on Pelican Marsh properties.

Pine Ridge

23 Active
18 Pending
71 Sold

There are less than 4 months of inventory in Pine Ridge. In my Pine Ridge market report in August 2019, 12 months of inventory existed, and levels were expected to increase to 14 months pre-season 2019. Little inventory is expected to hit the market this year because more properties stayed on the market this summer and already sold.

Buyers: I’m already seeing some buyers for this market who are disappointed in their options. If you see something you like, hop on it, especially if it is priced well or happens to be a really amazing offering.

Sellers: Across many of Naples’ luxury markets, most sellers are keeping a level head when it comes to pricing, which is a perfect recipe for a sale. A small percentage of sellers are on the unrealistic side and may find themselves reducing prices to capture the end of season buyers. If you’re looking for a solid, realistic approach to hitting your objectives, give me a call. Companies are encouraging agents to go after listings at all costs. This can be a dangerous approach to success. Ask me why!

PORT ROYAL

28 Active
7 Pending
43 Sold

There are less than 8 months of inventory in Port Royal. In my Port Royal market report in November 2019, 12 months of inventory existed, and levels were expected to increase to 18 months pre-season 2019. We are seeing some excellent activity here, which is causing activity to increase. This is good news for this market’s new construction side, suggesting builders, investors, and developers have their foot back on the gas on new speculative building soon.

Buyers: New construction is very thin right now, so if you’re thinking of something bright and shiny in Port Royal, strike now or run the risk of up to a 2-year wait! For the rest of you who don’t mind slightly used, like to remodel, or perhaps a teardown, you have a little more time to contemplate. If you are like many others waiting for something great to hit the market, sign up for notifications so you can stay up to date with the latest offerings.

Sellers: It’s a remarkable time to list! If you’re looking for an agent who isn’t going to pad their value to get your business so they can talk you down later, give me a shout. Port Royal is one of the highest competitive markets in all of Naples. The gaming that occurs here is extraordinarily high, and there is already a substantial amount of overpricing, which could easily cause another stall in the neighborhood. Call me for details.

In Closing

It’s going to be an exciting time for Naples real estate in 2021. If you have questions, I am just a quick text, call, or email away. If you’re coming to town and haven’t made an appointment yet, please do so I can offer the very best Naples real estate service possible. I’m looking forward to serving you swiftly and brilliantly!

Best Regards,

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