(As of October 2012)
A basic method used in evaluating home prices is to study total inventory of listings in relation to home sales for the past 12 months. The theory is that if the sum total of homes for sale exceeds the most recent 12 month sales, a Buyers Market exists. On the other hand, if the total listing inventory is below the recent 12 month sales, a Sellers Market is indicated. A one year (12 month supply) is considered to be “equilibrium”.
Basic supply & demand theory suggests a Sellers Market = escalating prices and a Buyers Market = declining prices.
The October 2012 report “Market Statistics as a Reflection of Supply and Demand” by Carroll & Carroll appraisers indicates the Naples/Bonita Springs area market is becoming a Sellers Market. Of the approximately 45 communities studied, many showed listing inventory has declined to a supply of less than 12 months (increasing prices).
A sampling of communities with less than one year supply of listing inventory:
- Aqualane Shores – houses.
- Olde Naples – houses & condominiums.
- Pelican Bay – houses & condominiums.
- Moorings/Park – houses & condominiums.
- Lakewood – houses.
- Pelican Landing – houses.
- Royal Harbor – houses.
- Saturnia Lakes – houses.
- Imperial Golf Estates.
- Copperleaf at the Brooks – houses & condominiums.
- Shadow Wood at the Brooks – houses & condominiums.
- Spring Run at the Brooks – houses.
- Pelican Sound – houses.
- Lighthouse Bay at the Brooks – condominiums.
Contact me at (239) 285-1086 or David@DavidFlorida.com for a copy of the complete report.