FL: Naples Sends Mixed Signals

Naples News Press headline: June real estate market shows signs of balancing


Upon reviewing the June 2022 Market Report, Mike Dodge, Director of Education and Market Research for John R. Wood Properties, commented that his agents tell him, “People want to list their homes but think they should wait for season because they think they’ll get more money for it. Although it remains to be seen where values will go from here, what we do know based on the report is that inventory is on the rise. Also, sellers who wait for season to list will likely have more competition than they would if they listed now.”

Adam Vellano, a Naples Sales Manager at Compass Florida responded that there has been an increase in international buyers traveling to America again this summer and that one in four of them are looking for homes in Florida. “Demand is still outpacing supply today, and our prices are still very attractive.”

Seasonality is also on the mind of Jeff Jones, Broker at Keller Williams Naples, who remarked that “in June 2019 we had the same number of price reductions as this past June, but during June 2019 we had three times the number of properties in inventory. That said, nearly 50 percent of our inventory this past June had a price reduction. These price reductions should be viewed as new listings because the newly lowered price is now attractive to a larger pool of buyers. Thus, there are more opportunities available for home buyers.”