Foreclosure in 34108>Question Details

Kibitzer1, Both Buyer and Seller in Naples, FL

What is the number of months supply for condos listed in Naples area?

Asked by Kibitzer1, Naples, FL Tue Jan 15, 2008

The answer being sought would be a number such as "54 months supply." Thank you for your help!

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Answers

2
From January 15, 2007 through January 14, 2008, there were 2,129 condos sold in the Naples area, according to the Naples MLS. Currently there are 6,046 condos for sale on the Naples MLS. These numbers translate to a 34-month supply of condos -- just under 3 years.
If you'd like these numbers broken down by price range, please email me at wownaples@comcast.net.
Web Reference: http://www.WOWnaples.com
2 votes Thank Flag Link Tue Jan 15, 2008
Denny, We are in a depressed market right now and the number your looking for is directly related to what the recent condo sales are per month divided by total condo's available. This could change significantly with short sales, foreclosures and owners being more realistic about their condo's value. If you combine this with a reduction in the cost of insurance, taxes and mortgage rates which are all in the process of being reduced. The bargain hunters, investors and speculators will jump back in first buying the premium properties. The number you are looking for could be decreased significantly. What is 34 months with todays activity could be 12 months by the end of the year. The best time to buy is when the inventory is high and not when the market has turned. The seller is less apt to negotiate a favorable deal for a buyer.
I know this is probably more then you were looking for but look at it like the stock market and being able to by Dell or Microsoft at a low you know eventualy you will make your money.
0 votes Thank Flag Link Wed Jan 16, 2008
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