I currently analyzed the Aqualane Shores market for a customer who is considering selling his Aqualane Shore home and while I wasn't surprised of the recent sales activity in Aqualane Shores, I am pleased to see the market has more than stabilized. My Naples real estate market experience is vast. I've seen the tables tilt towards both a seller's and a buyer's market in drastic comparisons. I enjoy a widely accepted stable market the most. When buyers and sellers have both come to grips with the reality of a market is when the most amicable negotiations take place and the least amount of heartache and disappointment exist.
The Aqualane Shores market is moving again though which has a potential of producing a little kooky behavior from both sides. It's probable sellers will want to push up on price and tighten on negotiations and buyers want to push back as a natural reaction. Just as the opposite occurs during a sinking market. But in any market smart sellers will remain reasonable as well smart buyers. Here's what I see right now.
The most interesting point about the Aqualane Shores market right now is for the first time in several years the original list price is lower than the current list price. What I mean by that is when I average all of the prices of the current Aqualane Shores listings the average current list price is now: $3,744,296. The average original list price is $3,738,352. Some owners are choosing to INCREASE their prices. While this isn't a wide spread occurrence yet, many owners are coming to grips with an improving market and it is becoming more clear on paper who's confident with their price, who wants to sell and who wants to see if they can capitalize on the current success. 18 of the 27 listings are standing firm on their original offering price. 5 of the 27 have made some sort of downward price adjustment during the term of their current listing and 2 have made substantial price increases.
Aqualane Shores negotiations are tightening. In an Aqualane Shore market analysis from December 2010, I reported that ratio coming in at 85% of list or 76% of original list. Today list price to sales price ratio is 89% of list and 85% of original list. This is further proof Aqualane Shores owners are less flexible today than just two years ago.
Let's look at the number of Aqualane Sales over the past few years:
We're going to use August 20th is the mark.
Aug. 20, 2011- Present:
# Closed = 26
Avg. Closed $ = $2,695,862
Avg. List Closed $ = $3,048,556
Avg. $/Sq. Ft. Closed = $666
Avg. $/Sq. Ft. List = $730
Avg. List to Sales Price Ratio 88%
Aug. 20 2010 - Aug. 2011
# Closed = 21
Avg. Closed $ = $2,258,524
Avg. List Closed $ = $2,656,500
Avg. $/Sq. Ft. Closed = $662
Avg. $/Sq. Ft. List = $783
Avg. List to Sales Price Ratio 85%
Here are some other interesting statistics to consider here.
- The average size of homes sold increased 15% this year compared to last. The bigger the home, the lower the price per square foot can be accomplished when doing an apples to apples comparison yet the average price per square foot still went up slightly.
- The average days on the market for the properties that have sold decreased 32% compared to last year.
- There were only 3 homes that sold for over $3,000,000 the year before. This past 12 months there were 9. That's a pretty big difference.
Agents are already complaining about having problems finding inventory for their customers. Some buyers are coming to town expecting a nice selection and being disappointed with their choices and leaving town without pulling the trigger. Fortunately new potential sellers are reaching out to see if now might be a good time to sell...phew. We need you!
If you're thinking about buying an Aqualane Shores home, please have a smart agent like myself assist you with your search and help you with your negotiations. To put it simply, it's getting tougher.
If you're thinking about selling your Aqualane Shores home, I encourage you to hire an agent who knows the market and can help you maximize your exposure to capture those buyers waiting for the perfect place to call their home while capturing the true current value for your property.
Of course you can always contact me direct with any questions you might have regarding your personal Naples real estate objective or search my Naples real estate website for more information.
PS~ There's 121 days til winter....are you ready?