Florida Sales Report – February 2008

Here are the February 2008 Florida Sales Reports for existing Single Family Homes and Condos. Please note that the Naples Board of Realtors has its statistics figured into the Statewide totals but there is no line item for Naples in the report. 

There was an interesting article in the NY Times this morning.  The article talks about the real estate market and sellers’ feelings towards pricing their homes in today’s market.  Many times sellers want an unrealistic price based on their emotional view of their home.  Unfortunately what is selling in today’s market are properties that are priced at or below market value.  Buyers right now are not looking for a “deal” they are looking for a “steal”. 

Properties in Naples that are on the beach or near the beach will always be priced higher than properties further away from the beach.  Even though our property values have fallen a bit in Pelican Bay, many sellers in Pelican Bay have the financial wherewithal to hold onto their properties until the market turns around.   70% of all low rises in Pelican Bay are failing to sell, this tells me that there are many sellers out there that can afford to wait out the storm or are unrealistic in their pricing.  Those buyers who are looking for that “steal” will have to look at many properties before they find a seller who is willing to give them that “steal”.

 Sunset in Pelican Bay

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