May
turned out to be a very busy month for real estate in Southwest
Florida. In the Naples, Bonita Springs and Estero segment,
pended/in-contract sales soared 19 percent over May 2016. This is the
highest number of pended sales for the month since 2014 and the second
highest on record during the past 11 years! Average sales price
year-to-date posted modest gains across the market from Marco Island
through Estero.
While some neighborhoods have lower inventory than at the beginning of season, others remain oversupplied with 18 months to more than two years of product in some cases. AND, this does not include new product which is largely unaccounted for in MLS data.
It is important to know the absorption rates by neighborhood / building as well as by price range and product type in order to set a price that will attract buyers.
While some neighborhoods have lower inventory than at the beginning of season, others remain oversupplied with 18 months to more than two years of product in some cases. AND, this does not include new product which is largely unaccounted for in MLS data.
It is important to know the absorption rates by neighborhood / building as well as by price range and product type in order to set a price that will attract buyers.
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