The Naples Area Board of Realtors® recently crunched the numbers on nearly 56,000 residential real estate transactions, taking a look at the original list price/final sale price ratios in each of the 12 months of 2016.
While these averages of averages rarely produce conclusive information on specific future transactions, this report did show significant patterns that are worth passing on.
From a buyer’s perspective, the months of January, February, March, October, and November seem to offer the best chance of getting a favorable offer accepted: with homes selling for close to 80% of list. The study shows that in the seven other months of 2016, the final price on listed properties was closer to 90% of the original price point.
The MLS shows 1,312 homes for sale at one million dollars and over. That’s about a 16 month inventory, given that there were 952 sales in the same price grouping in all of 2016.
That’s a decent buyer’s market, especially going into a three-month period in which the lowest priced offers have the best chance of going to closing. Call me if you’d like the inside word on a particular property or neighborhood.