| The 2021 real estate market has been an unprecedented one! Inventory is at a historic low and appreciation has been strong and steady. Home prices continue to appreciate and are getting to pre-recession levels. Often listings are getting multiple offers and often over asking price. Sellers are responding to this by asking for strong terms like cash, quick closings and very few contingencies. For some listings, there have been back up offers which keep the buyer requests at a minimum. It’s a great time to be a seller in Naples Florida and SW Florida in general. But the news is reporting that sales are decreasing which doesn’t give an accurate picture of what is really going on. Behind the decrease in sales is that there is low inventory which prevents high numbers of sales. HOWEVER, this doesn’t mean that prices are coming down even if there are price reductions in some of the current listings. Some agents have listed homes that were priced at market value plus a bump up to see if the market would bear that increase. There was no market support for the pricing just guessing and hoping. We don’t do that, our listing prices are based on facts, market trends and analysis. Some of that guessing and hoping worked at the beginning of this surge but savvy buyers with informed and realistic agents weren’t falling for that and those homes are sitting on the market. Overall in 2021 home prices have had a long awaited increase that was healthy and necessary but excessive and constant appreciation in home prices cannot continue indefinitely. Is this a bubble? We don’t think so. The majority of the sales in 2021 have been cash deals not like 2005 when most of the transactions were barely vetted mortgages. The homes that are selling now have equity and have been bought by end users not speculators. There are also buyers who are financing and waiting their turn to get into the market which is going to help support demand for several years to come. As we progress into a more balanced market with steady appreciation we will see that the overexuberant pricing will not hold indefinitely and a normal, healthy, balanced market will come into play. Where do we go from here and what does this mean for you? Thinking about selling? If you’re thinking about selling, it’s a really great time to maximize your returns in your Naples Florida real estate. There’s so little inventory that your Naples Florida home, if priced properly, will be under contract in less than a month. If you’ve been waiting to list your home and have watched prices go up, now is an excellent time to list your home with us and let us sell it for you. You can wait for season or list now as there are buyers out there who are just waiting for a home like yours to purchase. There’s no off season or bad time to list your home during this hot market. Are you ready to buy? If you’re ready to buy and can’t find a home, this fall will bring more opportunities but you’ll have to move fast. There are many new homes listed in Naples and SW Florida every day and we can set up an automatic alert for you based on your criteria to help you find your perfect home. Give us a call at 239.293.0246 and let us help you achieve your goals. |
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Michael & Anna Bryant
180 9th St, Ste 300 | Naples, FL 34102