Naples, Florida is famous for the upscale lifestyle it can provide its residents with. Because of its various commercial centers, tourist destinations, and hotspots that cater to various tastes, it’s no surprise that many people are looking to buy property in this paradise in Southwest Florida.
For those looking to sell their Naples, FL property, this means plenty of opportunity to maximize your earnings when you sell at the right time. If you’re planning to sell your property within the final quarter of 2021, here’s what you should know about the housing trends in Naples, FL to make the most out of selling your property.
Naples Is A Seller’s Market
Experts found that Naples, FL has been a seller’s market since the end of Q3 and is expected to stay that way to the end of 2021. This is likely due to the sudden spike of buyers in July 2021, which resulted in a 57.3% increase in pending sales. This increase, combined with the decreasing number of properties on the market, has led to an imbalance that has given sellers the advantage.
In a seller’s market, there are not enough properties to meet the demand, which means many buyers will be competing for the available properties on the market. When this happens, it’s common for buyers to start a bidding war for property, even going so far as to offer more than the homeowner’s selling price. However, there’s still no guarantee that you’ll be getting your selling price or higher. Most buyers, however, no longer have the luxury of waiting and lowballing as most sellers get around 96.25% of their listing price.
Home Prices Are Going Up
Many buyers are holding off on buying Naples, FL property, expecting that prices will eventually go down after a long period of properties appreciating to luxury prices. However, considering that Naples, FL is an upscale luxury location, it’s highly likely that home vales are likely to stay that way, even appreciating more in the future.
Average Selling Time Is Still Pretty High
The time it takes to get your property off the market can depend on many factors, including where your home is in Naples, FL. Realtor.com estimates that properties in Naples sell after 58 days in the market. Combined with the average 45-day closing process, it can take around 103 days to sell a house. This is still much higher than the national average of 70 days (25 days on the market and 45 days to close).
Still, there are some houses that take less than 58 days on the market to sell. Redfin found that some houses can sell after 10 days on the market, while particularly hot properties can sell after just 3 days on the market.
There is no guarantee that your property whether your home will be the exception or part of the average, however, so if you’re trying to gauge real estate trends in Naples, FL, it’s best to discuss this with a real estate agent or broker to analyze your property’s demand.
Is Selling In The Market Still Your Best Option?
Despite the high demand, there’s no telling whether your property will sell in 3 or 58 days. On top of that, there’s the closing period that takes another 30 to 45 days before your house is officially sold. For those who need to sell your house fast, you might not have 103 days to wait for the sale to close. So, even if your property is in a seller’s market, you might find a better solution to sell your home fast outside of the real estate market.
Professional homebuyers remain your fastest way to sell your home fast without having to list your property on the market. After contacting us and scheduling a property viewing, you can receive a fair all-cash offer within 72 hours or less. Once you formally accept the offer, closing can take as little as 14 days. In total, it is possible to sell your home within a month – compared to the average process of selling in the market.
Need More Info?
Alpha Properties provides a faster home selling process compared to the traditional way of listing your property on the market. We buy houses in Naples, Florida in less time, with fewer hidden costs, and for a fair price.
Contact us today to learn more about our process, our additional real estate services, and to schedule a property viewing.