I just checked the MLS for you and there are six available condos in Merano in The Colony for sale. In addition, there are two under contract with contingencies, two pending/waiting to close, and twelve sales in 2010. A stable market is one that shows balanced sales and demand in a one year period. Since we have twelve sales in 2010 and only six currently available for sale, we have greater demand than we have units available at the current prices. Most of the sales were in the first six months of 2010.
Looking at the six condos available, one is priced under market value and the other four first floor units are a bit high but within "Make an offer" range. Now that season is here, I expect we will see the sellers willing to meet market prices to move their units.
The lone second floor unit is also a bit high but again within range. If you don't have anyone letting you know what the market prices of these units are, please let me know and I will be happy to assist you. If you are not aware of the fees in Merano, I have them as well.
Bill Sontag, Realtor
Prudential Florida Realty
5th Ave Naples, FL