The Naples Cay Forecast Season 2022-2023

The Naples Cay Forecast Season 2022-2023

Hello Beach Enthusiasts,

Today I’m covering one of Naples’s greatest secret beach communities of Naples known as Naples Cay, a fabulous beachside community inconspicuously sandwiched between Park Shore and Pelican Bay. This marks the tenth edition of my 2022-2023 Naples real estate forecasts for all of my favorite Naples neighborhoods. Over a week ago, I covered the Moorings Real Estate Forecast. Today, I’ll explain the real estate market, where it might be headed, and what it means to you if you plan on buying or selling this year. Here’s my Naples Cay Forecast for Season 2022-2023.

In This Post:

• The One Big Talking Point
• Current Naples Cay Market Statistics
• Projected Inventory Levels
• Comparison of past inventory reports
• What to expect

The One Big Talking Point

Naples Cay is at zero inventory, with buyers on the sidelines waiting for new listings to hit the market. As a result, the newest listing to hit the market in Naples Cay went under contract in just two days of market time. While national headlines are blasting bubbles, recessions, and real estate deterioration, not all Naples neighborhoods follow suit. The Naples Cay market is extremely sound and still very much a Seller’s market! That’s why it’s important to listen to a local expert regarding market strengths or weaknesses. Naples luxury neighborhoods are not moving the same way, and Naples Cay is a sound testament of this fact. Local Naples, real estate intelligence, will offer the most sound advice over any local headline and any distant financial advisor.

Current Naples Cay Statistics

Current Inventory – There isn’t any. The condos that didn’t sell last season and those that just hit the market are all under contract leaving current buyers on the edge of their seats for the next available property.

Here are the details:

May Closings
2021 – 2
2022 – 0
June Closings
2021 – 0
2022 – 2
July – Closings
2021 – 2
2022 – 0
August Closings
2021 – 1
2022 – 0

There were five sales in Naples Cay last May through August compared to 2 sales during the same time this year. During normal markets, Naples Cay has a long history of snoring through the summer months. This year, Naples Cay saw a burst of sales activity with two pending properties in July, one in August, and two more pending in September. Naples Cay is attracting two prospect bases; wealthy buyers interested in beachfront condos and investors looking to diversify portfolios. Considering Florida is attracting an unprecedented amount of both types of buyers confirms Naples Cay will likely remain strong considering the amount of cash available and the fact Naples is expected to nearly double in size by 2060, according to Woods and Poole Economics, Inc.

Projected Inventory Levels

Only one Naples Cay condo went off the market this past summer and has not been re-listed or sold. Even if that property hits the market again, it isn’t going to do anything to help the dire inventory conditions in Naples Cay. I expect a similar amount of inventory to hit the market this season (between 5-10 properties).

What To Expect

90% of the past sales in Naples Cay were purchased with cash. Interest rate hikes are not likely to affect the Naples Cay market. Inflation and other economic issues aren’t either. This market will likely remain ultra tight throughout the 2022-2023 season. The fastest way this market can reverse is if sellers and listing agents get over ambitious by dramatically overpricing new listings hitting the market and causing an unnecessary stall. If reasonable appreciation continues, this market will remain strong, and pricing will continue to rise.

Selling?

If your goal is to sell your Naples Cay condo or villa, you are in a terrific position. There will be plenty of agents willing to compete for the opportunity to market your property. Beware of overpromises. Aggressive real estate agents will shoot an unrealistic number to win your business. If you want to avoid lengthy market times and capture your best price, list with the agent who can account for the value they’re suggesting. This will cause the buyer prospect base to react accordingly and for you to capture the highest value possible without the hardship of stalled activity or discounting during negotiations.

Buying?

You need to be on your toes for new listings and be prepared to strike quickly if something you like hits the market. Prices are more than likely to continue to rise. There will be competition on well-priced listings. Please contact your agent and get all the answers to the questions you might have about the Naples Cay condo buildings and development in advance to avoid decision delays. If you are 100% prepared before the listing hits the market, you will be more comfortable with your decision and happier with your purchase results.

I hope you enjoyed my Naples Cay Forecast For Season 2022-2023. Next up is Old Naples!

Call me with your questions and objectives or shoot me a text or email.

Best Regards,

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