Hello Naples Friends!
The Naples luxury high rise market falls right in line with most of our other highly desireable markets here in Naples, Florida. There are currently only 88 high-rise condos on the market which means there's barely over 4 months of inventory. For those of you who follow my Naples blog, you already know this means we're in a severe drought for Naples luxury high rise condo listings. Naples luxury condos are described as Naples condos priced at 1 million and above. Here's the stats:
For the past 365 days:
- There have been 256 sales
- There are currently 29 pending sales
- Only 88 active listings exist at this time.
Here's the good news for Naples luxury high rise sellers:
- Average list price per square foot has increased 4% compared to those that have sold during the past 12 months.
- Average list price is now just over 2.4 compared to 2.25.
- You are not alone but you might as well be if you own on the beach in Bay Colony...don't list. Call me as soon as possible. Not teasing...
If you're thinking about selling your Naples luxury high rise condo, you probably want the entire thing to go down as conveniently and as successfully as possible. People ask me all the time, "when is the best time to list my property"? Let's take a look at the past year's performance:
- 58 high rise condos sold in 1st quarter.
- 117 high rise condos sold in 2nd quarter.
- 45 high rise condos sold in 3rd quarter.
- 36 high rise condos sold in 4th quarter.
Don't let the number fool you...it typically takes at least 30 days from contract to close. While it appears 2nd quarter is clearly the quarter to hit the market, keep in mind a HUGE factor in the success of our high rise market is the weather. If it cools off earlier this year, there's no mystery, Naples is going to get popular immediately. I'll tell you what most successful Naples Realtors believe. If you want the best shot to secure the best deal, list in October (yes 7 days from now). Know there's every possibility if you price your condo right and it shows well, you're probably going to have a contract before Christmas..don't freak out. It doesn't necessarily mean you have to be out by then. If it doesn't happen two weeks before Christmas, don't be surprised when traffic slows down. Put your helmet on December 26th though because the showing traffic should go through the roof at that moment...if it doesn't something has gone horribly awry. If you really don't feel like doing it til January 1st, don't worry. Just know that you and everybody else who hasn't done so already is probably going on the market at the same time which will mean more competition. A fabulous Realtor will nail it for you anyway! I know one...call me :).
Here's the good news for Naples luxury high rise buyers:
- If you want the best...it may already be on the market now. I've probably seen and shown it. You should call me if you want to see it too.
- While there's not a jillion properties to see there's a nice selection (unless you're interested in Bay Colony beachfront...then there's hardly anything)
- Market time is rising which is a good talking point in negotiations. I have 3 more points that could help you get your price provided you're not really reaching for something unrealistic. Call me if you want somebody who can really go to bat for you!
If you're thinking this is the season you want to purchase a Naples luxury high rise call me and let's formulate a plan. There isn't anybody else on the planet who can make it easier and more enjoyable than me! :)
By the way, there's 87 days til Winter....Happy Fall!
Shannon Lefevre, PA
Your Naples Smart Girl!