Naples Inventory Report Update 5.15.24

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Naples Inventory Report Update 5.15.24

Good Day, Naples Friends! I’m sharing what I learned after studying this week’s Naples inventory report. I craft this report every Monday to track my favorite Naples developments and subdivisions across Collier County. This makes it easier to see trends and predict what will happen this next season.

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Aqualane Shores Naples, Florida
  1. Several developments, like Aqualane Shores, Moorings, Park Shore, and Pelican Bay, have seen slight drops in inventory over the past three weeks. Some of this is due to post-season dropouts (properties that go off the market via terminations, withdraws, and expirations) and post-season negotiating. Dropouts can lead to extremely serious problems if these owners decide to re-enter the market all at the same time next season. This is about as close as Naples gets to shadow inventory and can cause unnecessary downward pressure on prices. I’m already seeing some locations that may be setting themselves up for disappointment. If you plan to list next season, you should ask me if your development is at risk. Post-season negotiating occurs when seasonal Buyers want to buy during the season but feel the pricing is out of control. Instead, they waited til post-season to use an extra talking point to negotiate the Seller down. This is a terrific tactic to use during slower market trends (like now) and will continue to be effective until around the end of July. Once August hits, listing agents and owners will tighten again in hopes of a stronger pre-season. Storm threats can also be a catalyst for strong negotiating strategies for Buyers. Ask me more!
Clermont at Pelican Marsh
  1. Audubon, Twin Eagles, and Pelican Marsh are competing heavily for some of Naples’s lowest inventory, each being less than five months. The only difference is the market in Pelican Marsh historically tends to heat up during the summer. Buyers may have a tough time finding homes or condos they like. Competing or fighting with appreciating values can also come into play. BUY NOW to avoid these problems!
  2. We are definitely seeing a resurgence in some beachfront areas like Coquina Sands and Vanderbilt Beach. Coquina started the season last October with only 20 sales in a rolling 12-month total. Today, she sits at 31 sales recorded for the past 12 months, with 11 pending. Vanderbilt Beach has a similar success story, with 60 sales recorded for the rolling 12-month total last October. Today, she has 79 sales for the past 12 months and ten pending sales. In fact, Vanderbilt Beach has managed to burn through 2 months of inventory in just two weeks.
Seawatch Condo on Vanderbilt Beach Naples, Florida
  1. Some developments are finding the new acceptable market value as a massive series of price reductions have swept over the Naples area hotsheet. Naples Park, for example, spent the entire season in red (inventory levels over one year—oversupplied levels) and just this week dropped under 12 months. Based on the 12-month rolling average of closed sales, they’re accelerating, but they better be careful. Some listings have dropped out, which could lead to an early-season buzz kill.
  2. Bonus point of the day: Please list your property with somebody who knows what they’re doing.
    A. There are times in the market when using an As-is contract over a NABOR standard contract is more advantageous. If your agent doesn’t know what that means, they don’t know what they’re doing, which can ultimately hurt you. Ask me why.
    B. I am still seeing WAY TOO MANY price reductions (Hail Mary Passes) for less than 2% off. If you want to expose your position of not being flexible, go right ahead. There is one reason to do this and only one.
    C. 155 listings failed this week. If you own one, call me for an accurate analysis of why it failed. The truth might surprise you!

That’s all I have for you today, Naples Friends. I hope you’re enjoying the lighter traffic and gorgeous weather! Call to help you reach all your Naples real estate objectives!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!