According to the Naples Area Board of Realtors (NABOR), as of the end of November 2021, compared to November 2020, the median sales price in Naples had climbed 31% while inventory dropped 76%.
Adam Vellano, a Naples Sales Manager at Compass Florida states in the November 2021 NABOR report, “Year over year business growth like we saw last year is just not feasible in today’s market. But our issue is exactly what all other industries are facing right now: Supply. We are simply becoming the store that is selling out of inventory.”
Will The Real Estate Market Crash?
“Adam’s observation is right on target. Inventory is getting very tight, which means it’s a seller’s market. If you are 65 years or older, there has never been a better time to sell your home,” observes Tom Mann, Moorings Park Communities Vice President and senior living expert, “I’m seeing the “data” in real-time. In 2021, Moorings Park Communities experienced record sales. And each of the people moving in, sold their previous home in record time, at record prices.” Mann continues, “Most of the boomers and seniors we deal with viewed it as an opportunity to take money off the table before this real estate market crashes.”
Luxury Is Keeping Naples’ Boomers Close
“Of course, when you sell your home, you must move somewhere, and fortunately for us, that choice has overwhelmingly been a Moorings Park Community. With prices ranging from just $421,000 to over $5 million, Moorings Park’s…