Explaining the Feast and Famine Phenomenon in the Naples Real Estate Market
A lot of our clients here in Naples have noticed that when they check the MLS in their neighborhood they seem to find either a large amount of listings, or nothing it all. What is the reason for this feast and famine cycle in real estate? Well, let us explain.
When a new condominium complex is built, usually all of the sales occur at the same time. This can occur with subdivisions too. They are usually constructed in 2-3 years and consumers buy up the properties and lots all at the same time.
Once all of these properties are initially bought out, a turnover usually occurs after 3-7 years and people begin selling their properties. This obviously brings in a new batch of buyers and it creates a cycle where you have lots of buyers coming in around the same time every few years, and then you will see another wave of for-sale properties a few years down the road.
Another factor in this phenomenon can be the age of the building and the type of community that it harbors. Sometimes people move to a certain area for the lifestyle that it provides, but when their preferred lifestyle changes, then they will move elsewhere.
This is why it seems like everything suddenly pops up on the market, and then the next thing you know, nothing is for sale.
As always – if you’re looking to buy, sell or invest in Naples real estate, then you know where to turn for satisfactory service. Call The Saad Team, your local professionals. We can sit down and discuss all of your individual needs. Naples Is A Beautiful City