Naples Real Estate Market Update July 1, 2020

Hello Naples Friends,

Many of you are checking in to see the latest Naples real estate updates and haven’t seen a recent post so here’s a brief description of what is occurring in the Naples real estate market.

Naples REALTORS and Vendors Are Really Busy!

After putting yet another Pelican Bay high-rise condo under contract this week, I found scheduling inspections quite interesting. Reputable inspector schedules are running at least a week or 2 out if not more. One inspection company commented she had already scheduled 20 inspections that morning and it was only 10:30. We find scheduling professional services trying during peak market times (January through April) but seldom have trouble during summer months like June and July unless we are at the absolute tippy-top of the market. Just to be clear we are NOT at the top of the market. Most buyers should feel relieved they won’t have to pay the absolute top price. Most of us proven professionals feel like this unusual scheduling phenomenon is caused by pent up demand from those who could not facilitate their transactions during the quarantine but many are starting to question if this is occurring due to a higher-demand for Naples real estate.

Mass Drops In Inventory May Cause Prices To INCREASE!

Naples real estate Buyers are flocking to the market but Sellers are still in summer mode. Sellers, if you are waiting until October to list/relist your property you are likely making a grave mistake. Call me today to see if we already have buyers looking in your Naples community. Little inventory could mean higher pricing and you may actually be able to sell for more than you could just a few short months ago.

Buyers, if you are thinking about waiting until August or September (what is typically known as the best time to buy real estate), please be advised some evidence of price increases is already occurring. You could be setting yourself up to pay more or even worse, finding nothing to purchase. Act now!

Not All Active Listings Are Available

I am seeing a huge influx of pending contracts not being reported in MLS and are still showing active. This is going to greatly disappoint buyers who are watching from afar assuming they’re going to come in the week of July 4th to see properties already under contract. If you are planning a visit this month, CALL ME IN ADVANCE! I know of at least 7 listings across the market that are currently pending contracts but are still showing active and available. Listing agents typically will not allow showings on these listings and your list of properties to see may be greatly reduced. More importantly, if they do allow showings do you really want to waste your time with a backup offer? Many Naples buyers don’t like to be back up for anything.

Prepare For Your Buying Visit

Some properties have gone off the market during COVID and/or normal end of the season expiration. Many of these may still be available. It takes planning to facilitate an off-market showing. A great deal more time is required to track down Sellers who are taking the summer off especially during major holidays like the 4th of July.

Access to these properties can be more difficult and hesitation to allow showings increases substantially if Sellers are caught off guard. I may be able to open your buying options if you are coming but you need to tell me in advance so I can show you the greatest selection. The odds of seeing off-market properties with no notice greatly reduces your options and chances of viewing.

Masks And Possibly Gloves May Be Required

If you are looking for high-rise condos in Naples, you may be required to wear a mask. Masks and gloves are required in a small number of buildings. I have also experienced a few buildings where security is checking temperatures. If you don’t have them, make sure to tell your agent so they can be prepared for you. Other showing stipulations like management accompany showings may also be in place which can make keeping a typical showing schedule challenging. Please alert your agent in advance if you want to see properties. This way they can prepare the most advantageous showing experience for you.

Ok, I have contractual obligations to handle but if there are any questions I can answer or If you would like to schedule an appointment, reach out. The fastest responses happen via text these days. By the way, we pended our last listing from the season and we are on the hunt to help more Naples sellers move their property! That puts our 2020 listing taken success rate at 100% sold this year!

Happy 4th!

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