Southwest Florida New Listings by June 24th of each calendar year:
This year there have been a total of 16,202 (down 13% compared to 2010)
2010 there were a total of 18, 393 (down 4% compared to 2009)
2009 there were a total of 19,312 (down 8% compared to 2008)
2008 there were a total of 20,924 (down 10% compared to 2007)
2007 there were a total of 23,047 (down 10% compared to 2006)
2006 there were a total of 25,452 (up 52% compared to 2005)
2005 there were a total of 16,735
As you can see from this 7 year time line we are nearly even compared to 2005 in new listings added to the Southwest Florida MLS database. Just looking at this listing information you might think we're following the typical 7 year cycle that Naples real estate has been rumored to follow in the past.
Southwest Florida Sales by June 24th of each calendar year:
This year there have been a total of 7,476 (up 10% compared to 2010)
2010 there were a total of 6,736 (up 37% compared to 2009)
2009 there were a total of 4,909 (up 27% compared to 2008)
2008 there were a total of 3,858 (up 6% compared to 2007)
2007 there were a total of 3,606 (down 26% compared to 2006)
2006 there were a total of 4,559 (down 48% compared to 2005)
2005 there were a total of 9,312
As you can see from the Southwest Florida sales data it is clearly evident that the Naples area isn't following the same 7 year cycle as many expected. While listings are down and sales are up compared to the last several years. We have hardly come full cycle.
While some areas have indeed leveled and some inventories are actually short in some Naples areas, some areas are still experiencing an oversupply or are at a standstill. Anytime the stock market starts doing funny things and word about the economy makes people nervous there tends to be a slight drop in interest. This is especially great for a buyer who was hoping to pick up a deal this summer.
I can't guarantee this edge of negotiations will still be with buyers once the snow starts flying up north again but I can (with confidence) suggest a Naples area buyer has some extra power to negotiate than they did during season.
Another thing to consider is our next peak selling season will be taking place during an election year which always seems to bring added anxiety and a mixed bag result. This is largely based on the optimism or lack there of who many will think will be our next Commander in Chief.
There are some interesting areas that have since broken loose a bit since season...this means that a neighborhood or condominium with few to no sales has started selling again and now there is definitive evidence of true market value where before it was merely a guess or open to gross interpretation. Take for example the
Regent at Park Shore. Sales were stagnant in Regent since July of 2009. Since then a couple have gone under contract and one has since closed with more offers that were unsuccessful but once that second unit closes there will be a clear understanding of the new value in Regent and I think anybody who's been watching may be ready to give it a shot.
For more information about
Naples real estate information specific to your needs, contact me direct!
Best Regards,
Shannon Lefevre, PA
Your Naples Smart Girl!