Today, our company, Premier Sotheby's International Realty had the pleasure of hosting a Naples area real estate icon. It is always a pleasure to get the opportunity to listen to Cindy Carroll present the state of the Naples, Florida market. Cindy is a Naples native and has been a full time real estate appraiser since 1986. Today she presented with her son, who is now a 3rd generation appraiser at Carroll & Carroll Real Estate Appraisers. I love listening to Cindy's history stories about dirty roads to get home, through the land that is now the Vineyards Country Club, and so much more. And how when I-75 came to town, it changed the whole geography of what was considered "in town" or close to it.

She said today was the first time she was able to share good news with us since 2022, when the market shifted. She sees optimism in the future for our local real estate market that has been going through a continual reset since the pandemic real estate boom that sent values into orbit. Breaking down a sample of different areas of town, country clubs and neighborhoods, we were able to see which ones are rebounding the most and which still have a long way to go.

Like you've heard me speak out before, the shadow inventory is something always on our mind this time of year. These are the properties that failed to sell in the previous Season, were either expired or withdrawn for the Summer with plans to relist in the Fall. Cindy also shared her concern for this and that will help dictate our Fall and High Season (January- Easter).

She also addressed another topic that I speak about a lot, and that is property condition. Routine maintenance and cosmetic refreshing. And the danger of comparing those property values with homes that have deferred maintenance and outdated finishes. This sets up for, many times, a lengthy listing and often deep discounts in the sale price if not addressed with proper pricing early in the listing period.

The take away was Cindy's optimistic outlook for a settling and rebounding Naples market from good ol' supply and demand, rather than other influences like the pandemic market cycle. That sets us up for a healthy market. And like many of you, we are ready to see that!

If you have any questions about today's presentation or anything else that I can help with. Please contact me at the info below.

Phillip M. Rigsby
Global Real Estate Advisor
Premier Sotheby's International Realty
Naples, FL.
239.494.2563
[email protected]
FindingNaples.com