Is good time to sell my house in Naples? Whenever you are deciding to enter the real estate market, you have to make several important decisions before you even contact a realtor or put up a listing. One of those choices is whether or not now is a good time to sell. There are many factors that need to be considered before you come to a decision, and the current economy as well as the housing market are two critical pieces of that decision.
As you have probably seen, interest rates and mortgage rates have been increasing very quickly because of the soaring inflation. There have even been fears of a recession floating around the economic world, and this makes financial decisions very challenging to make. Home sellers have even reconsidered their decisions to list homes for sale because they want to wait and see what the market does in the coming months.
At Your Home Sold Guaranteed Realty of Greater Florida, our team knows that these issues are vitally important, and we are happy to assist you with any and all of your tough decisions. Below, we have delved into the housing market in Naples to help you understand what the situation looks like and to figure out if now is a good time to sell your home. We have also listed some great ways to achieve your real estate goals.
Is Now a Good Time to Sell My House in Naples?
As with many cities in Florida, Naples is a location that people consistently want to visit and end up living in because of many favorable factors. Some of these factors include climate, tourism, jobs, and international home buyer interest. Investing in a home in Naples is a good idea, and sellers will get the benefits of those investments.
Interest rates and mortgage rates remain high along with inflation, but that has not stopped Naples from growing and thriving. Although economists would not consider Naples a very competitive market, home sale price averages are still up 16.7% from last year and the city is still growing. Overall, home prices have increased by 13.1% since last year, so the pandemic and its effects have not stunted the growth of Naples.
Home Sales
Last year, however, home sellers were getting 100% of their listing price whereas they are now getting about 95.6% of the list price. Although the ratio has decreased, home sellers can still expect to sell their homes within 42 days of listing. Compared to other cities such as Tampa or Sarasota, the competitiveness of Naples is not very high, but this does not mean that home sellers will not make a profit from their home sales.
Over the next year, home values are only expected to increase by 3.1% (as opposed to last year’s growth of 12.7%), but the demand for housing will remain high because Naples is such a desirable place with its climate, beaches, and high quality of life. The current average home price is $759,000.
Should I Sell Now or Wait – A Realtor’s Guide
How do you answer the question, “is now a good time to sell my house in Naples?” This is one we get asked quite frequently at Your Home Sold Guaranteed Realty of Greater Florida because home sellers want to make sure that they are not losing profit on their assets by selling now. The answer, though, can be complicated and is based on a number of factors, including personal circumstances.
Home sellers may want to wait to sell because they are hoping that the interest rates will decrease and allow mortgage rates to decrease with them. It can make a huge difference in the market, especially when trying to attract potential home buyers. Some home sellers, though, are in situations such as relocating for a new job, and they cannot wait to move and must sell their homes as soon as possible. In this case, a realtor can certainly help you get the most out of your home.
Inflation’s Impact on the Market
If you have flexibility, it may be a good idea to wait. Because the Fed has raised interest rates throughout the first part of 2023 and inflation remains high, some economists have suggested that a recession may be on its way. This does not create the most ideal circumstance for the sale of a home. Since the economy is so difficult to predict, it is best to stay aware of the changes and work with a realtor who will keep your best interest in mind. A recession, after all, can be detrimental to your home selling goals.
Another important factor to keep in mind is the mortgage rate you will face when you buy your new home after selling your current one. You may be facing a high rate as well as fierce competition from other home buyers in your situation. This is a lot to keep in mind, and our realtors are here to help with that. We will work with you to ensure you get the best price for your home and are selling at the most opportune time.
Achieving Your Real Estate Goals Simply and Effectively
Unless a home buyer is actively seeking out a fixer-upper home, most home buyers are looking for a turnkey, move-in ready home. That means it is vital for home sellers to get their homes in pristine condition. If there are any repairs or renovations that need to be done, it is wise to make the investment now so that you can ask an even higher listing price and expect to get it.
Keep in mind that some home buyers may even be willing to pay more for a house that is move-in ready due to the competitive nature of the real estate market. To ensure that a home buyer acts fast and invests quickly, be sure your home is ready. Make the following preparations:
- Use a cleaning service to deep clean and sanitize your entire home professionally. That can be a great selling point, especially in the age of post-COVID.
- Invest in a landscaping service to boost your curb appeal and ensure that your home’s exterior is in tip-top condition.
- Contact general contractors to fix urgent repairs, add new paint, and repair big-ticket items like the roof – an investment now will enable you to charge even more for your home.
- Consider a professional home stager to maximize your home’s best features, layout, and natural lighting and help home buyers visualize themselves living in the house
We Will Sell a Home in Naples Fast and for Top Dollar
If you and your family are ready to sell your home and need expert assistance to get it done, you can rely on the expertise of Your Home Sold Guaranteed Realty of Greater Florida. We offer you all of the information, resources, and tools you need to succeed and achieve your real estate goals. With our team, you can rest assured that you will be making the most well-informed decisions.
Our realtors have plenty of experience and skills in the industry, and we have become the best realtors in the area thanks to our exceptional selling speed. When you work with us, you can rest assured knowing that you will sell your home 50 times faster and for 7% more money than with a competitor.
In addition to our selling speed and expertise, we also have unique home seller guarantees that are simply unparalleled. This includes our Guaranteed Sale Program , which offers home sellers a guarantee that their homes will sell in their desired time frame no matter what. If it isn’t to a home buyer, our team will buy it at the previously agreed-upon price.
If you are excited to get your home on the market and want more information about our home selling expertise, give us a call at 239-880-3563 or fill out the form on this page with the requested information. We are happy to send you all of the information you need!
