Inventory Levels in Naples Are Down, Even Back to Levels Not Seen Since the "Boom"
The Naples, Florida real estate market is rebounding. Inventory levels are at the same level as in Q3 2004.
Naples, FL, October 20, 2011 --(PR.com)-- The Naples, Florida housing market is changing for the better. Recent studies by NABOR, John R. Wood Realtors and professional appraisal firm Carroll & Carroll Inc., revealed a trend of declining inventory.
Inventory studies are a factor in determining what is happening in real estate markets and affect a Buyer’s or Seller’s market. According to Karyn Samuel, John R. Wood Realtors, “During the crash, we saw inventory levels in some Naples neighborhoods jump to over 7 years of inventory. The inventory was far outweighing the sales. You don’t need to be a rocket scientist to know that those neighborhoods would continue to see a price decline until their inventory stabilized.”
Naples inventory is down in every price segment in both condominiums and single family homes, with the exception of condominiums above $5,000,000. Q3 2011 inventory posted a 24% decline over Q3 2010 and a 45% decline compared to Q3 2007. Naples inventory is at its lowest level since Q3, 2004.
“Some neighborhoods still have oversupply, however our popular neighborhoods, driven by proximity to the beach or downtown or school districts they feed into and/or those with lower price points, have become balanced and in many, we are seeing inventory shortages. The last time we had a shortage in inventory was during the real estate boom of 2005,” said Rowan Samuel, with John R Wood Realtors. Cindy Carroll, with respected appraisal firm, Carroll & Carroll Inc., concurs. “Most market sectors are trending toward a balance of supply and demand which results in value stabilization. On the brink of the 2011/2012 selling season, there is a shortage of supply in some neighborhoods setting the stage for potential value increases over the next 12 months.”
Diminishing supplies in all price ranges, low prices, historically low mortgage rates and prized location, point to an active season in the southwest Florida real estate market. The unprecedented market dynamics which currently exist provide astute buyers with a once-in-a-lifetime opportunity.
To view the Q3 Market Report and inventory study by Carroll & Carroll Inc, visit www.lovingnaples.com and click Current Trends on the home page.
www.lovingnaples.com
###
Inventory studies are a factor in determining what is happening in real estate markets and affect a Buyer’s or Seller’s market. According to Karyn Samuel, John R. Wood Realtors, “During the crash, we saw inventory levels in some Naples neighborhoods jump to over 7 years of inventory. The inventory was far outweighing the sales. You don’t need to be a rocket scientist to know that those neighborhoods would continue to see a price decline until their inventory stabilized.”
Naples inventory is down in every price segment in both condominiums and single family homes, with the exception of condominiums above $5,000,000. Q3 2011 inventory posted a 24% decline over Q3 2010 and a 45% decline compared to Q3 2007. Naples inventory is at its lowest level since Q3, 2004.
“Some neighborhoods still have oversupply, however our popular neighborhoods, driven by proximity to the beach or downtown or school districts they feed into and/or those with lower price points, have become balanced and in many, we are seeing inventory shortages. The last time we had a shortage in inventory was during the real estate boom of 2005,” said Rowan Samuel, with John R Wood Realtors. Cindy Carroll, with respected appraisal firm, Carroll & Carroll Inc., concurs. “Most market sectors are trending toward a balance of supply and demand which results in value stabilization. On the brink of the 2011/2012 selling season, there is a shortage of supply in some neighborhoods setting the stage for potential value increases over the next 12 months.”
Diminishing supplies in all price ranges, low prices, historically low mortgage rates and prized location, point to an active season in the southwest Florida real estate market. The unprecedented market dynamics which currently exist provide astute buyers with a once-in-a-lifetime opportunity.
To view the Q3 Market Report and inventory study by Carroll & Carroll Inc, visit www.lovingnaples.com and click Current Trends on the home page.
www.lovingnaples.com
###
Contact
The Samuel Team
Rowan Samuel
239-298-3555
www.lovingnaples.com
Rowan Samuel
239-298-3555
www.lovingnaples.com
Contact
Categories