Park Shore Naples, Florida Real Estate Forecast 2019-2020

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Park Shore Naples, Florida Real Estate Forecast 2019-2020

Welcome to the tenth edition of my series, The 2019-2020 Naples Real Estate Forecast. I’ll be talking about the Park Shore Naples, Florida real estate forecast for 2019-2020 and what it means to you. If you’re thinking about buying or selling real estate in Park Shore this year, you don’t want to miss it.

Park Shore is still undersupplied and isn’t expected to hit stable levels at least through October this year. Park Shore enthusiasts didn’t seem to mind last year when inventories were almost exactly the same and prices continued to rise but I am seeing some cracks in the ice. This could pose problems for Park Shore sellers and provide a little relief for Park Shore buyers this year.

In This PostPark Shore Homes 5 Million plus

• Current Park Shore inventory levels
• Projected inventory levels
• Comparison of last year’s inventory report
• Cracks in the ice
• Park Shore New Construction Update
• What sellers can expect
• What buyers can expect

Park Shore Inventory

    • Current – 6 months
    • Projected – 9 months
    • Last August report – 6 months

Park Shore Fast Facts

  • Average discount rate unchanged from last year – 94%
  • Sold price per foot up 10% compared to last year.
  • List price per foot up 4% compared to what sold during the past year.

Cracks In The IceBrittany at Park Shore

As you can see, the Park Shore market has done well compared to the year before. Let’s take a closer look at some important signs.
  • Market time up 12% compared to what sold during the past year.
  • 69 Park Shore properties are expected to re-enter the market.
  • The average list price per foot is 644 but the average pending is only 518/foot.
  • 32% of the active market has dropped their price down to attract a buyer this year.

Park Shore New Construction UpdatePark Shore Naples, FL for sale

  • 9 Active
  • 1 Pending
  • 5 Sold during the past year

There are 21 months of Park Shore new construction inventory as investors and builders position pricing to cause buyers to pull the trigger. The average list per foot price on active properties is now under the average of those 5 that sold over the course of the last year.

New construction in Park Shore took a pretty big dump as sales volume declines 59% compared to the year before. That is causing a handful of lots to re-enter the market as builders and investors say, “I’m gonna take a pass right now.” If this trend continues it could mean great news for those of you who have been wanting a well-priced lot to build your own home.

Selling in Park Shore?Park Shore Beachfront

It’s going to be a little tougher for you as inventories rise and sellers become more aggressive for the sale with increasing price reductions. If you are more than casually interested in selling your property, it’s time to compete!

Do you know the number one reason why over 30% of the properties in Park Shore are being discounted and are taking on average over 200 days to sell?

They look like crap in photos. If you don’t believe me, take a short scroll through the Park Shore listings! It’s NOT the seller’s fault. It’s the agent’s fault. There are too many tools for agents to showcase your Park Shore home or condo regardless of its condition yet an overwhelming majority of Park Shore agents don’t know how to do it!

My photography is the number 1 reason why I sold a high-rise unit in Pelican Bay earlier this year in 70 days of market time. My competitor had it for 579 days without a successful sale!

You owe it to yourself to give me a call and see for yourself what I can do with your property and how I procured the buyer for the most expensive sale in Park Shore this year. I can show you my proven results in 15 minutes or less!

Buying in Park Shore?Venetian Villas Park Shore

More New and Old Choices
Some older inventory will finally come down in pricing as some owners grip reality. Be on the lookout for BIG reductions as the weary give up to ensure selling this season. Unless you’re planning on checking Naples real estate websites many times throughout the day, you’re likely going to miss deals. Sign up for your favorite buildings or neighborhoods and get immediate alerts on sizeable reductions because they are selling fast and you can expect this trend to continue.
Hover Affect In Full Force
Many Park Shore buyers are in a hover state which means they’re watching and ready to pounce if the reduction is good enough. If the reduction sucks, those properties will continue to garner market time. It’s safe to hit snooze.
A good amount of last year’s unsuccessful inventory will hit the market at the same unsuccessful price points. This provokes a stall encouraging more of the same behavior if adjustments aren’t made sooner than later. The beginning of the season could be slow and cause some mid-season reductions to spur late-season selling activity.
A few owners/listing agents will hit the market at a price that will cause properties to sell quickly. 2 Park Shore properties are already under contract with less than 3 days of market time. Price and condition are the biggest factors determining value in the Park Shore high-rises so if you don’t know the Park Shore condition matrix, you need to call me.
Luxury Park Shore High RisesRegent at Park Shore
Some of the most exclusive Park Shore high-rises aren’t performing well right now which could mean buyers are going to get a better deal through negotiations. So far there’s an oversupply of inventory in some of Park Shore’s very best buildings including:
Rolling into pre-season with an oversupply could pose a real problem when other inventory in these buildings hit the open market. Depending on your negotiation strategy you could be well poised for a discount. For those who wait, you may see reductions on the horizon so watch for these. If you’re looking for a negotiating boss, call me to see how I helped my client in Le Rivage at Park Shore get a 26% discount at his negotiating table!

In Closing

That’s what I have to say about the Park Shore real estate market. I hope you’re enjoying my series on the Naples Real Estate Market Forecast for 2019-2020. Call me if you’re thinking about selling your Park Shore property and want an aggressive agent with some massive marketing acumen. If you’re ready to buy, give me a jingle! I’ll show you all the greatest properties and help you slice up a great deal!

Best Regards,

Shannon Lefevre, PA
Your Naples Smart Girl!

P.S. Have you subscribed to my site for important season announcements? You should do that! Don’t forget to sign up for new listings and price reduction alerts for Park Shore!