Naples, FL Market Trends

Let's break down these real estate metrics to see how they are correlated and what they mean for buyers and sellers in the market. 

First, let's look at the Months Supply of Inventory, which is currently at 9.97. This metric tells us how many months it would take to sell all the current inventory of homes on the market at the current pace of sales. A lower number indicates a seller's market, while a higher number indicates a buyer's market. With a Months Supply of Inventory at 9.97, we are leaning towards a buyer's market, where there is more inventory available for buyers to choose from.

Next, the 12-Month Change in Months of Inventory is 0.72%. This shows us that the inventory of homes on the market has increased slightly over the past year. This could be a sign of a shifting market, with more homes becoming available for buyers.

The Median Days Homes are On the Market is 69. This metric tells us how long it takes, on average, for a home to sell once it is listed. A longer number indicates a slower market, while a shorter number indicates a faster-moving market. With homes taking 69 days to sell, we are looking at a market that is relatively balanced, neither favoring buyers nor sellers.

The Sold to List Price Percentage is 0.94%. This metric shows us that, on average, homes are selling for 94% of their list price. A higher percentage indicates a stronger market for sellers, while a lower percentage indicates a stronger market for buyers. With homes selling for 94% of their list price, buyers may have some room for negotiation, while sellers may need to be strategic with pricing.

Lastly, the Median Sold Price is $602,500. This is the midpoint of all the sold prices of homes in the market. It gives us an idea of the overall price range of homes that are selling. With a median sold price of $602,500, we can see that there is a mix of homes at different price points available for buyers.

Overall, these metrics paint a picture of a market that is relatively balanced, with a slight advantage for buyers due to the higher Months Supply of Inventory. Sellers may need to be competitive with pricing and strategic with marketing their homes to attract buyers. Buyers have more options to choose from but should be prepared to act quickly when they find a home they like.