For the past 6 months the real estate market in Naples has been “balanced” and that means that there has been adequate real estate inventory for the buyers who were looking to make a real estate purchase.
Compared to January’s nationwide numbers of 3.4 months of inventory, Collier County in January 2018 had 8.2 months of inventory. This is a healty number.
We are starting to see signs that real estate inventory may begin to tighten. Overall inventory in Collier County decreased 5% in January 2018, while overall sales for Collier County were up 11% from January 2017.
There are two significant factors that account for the 11% increase in sales. First, home buyers and investors have had time to digest the new tax law that will take effect in 2018 and second, the FED has begun tightening and has indicated it will continue to do so throughout 2018, which most certainly means higher mortgage rates.
If you are considering a purchase here in SW Florida, now is the time to get serious, while real estate inventory levels remain healthy and while interest rates are still near historic lows.
I’m here to help you find the perfect property and then work aggressively to negotiate an attractive purchase price. Call me and let’s get started!!
Below is a chart comparing January 2018 vs. January 2017