As a homeowner, you want to make sure that your decision to sell your homes is a good idea and will not end up with a loss in value. That means you will have to know what the current real estate market looks like. Are prices dropping in Naples? Will sellers have a hard time? Know before you list it and stick that “For Sale” sign in your front yard.
In addition to doing some research on the real estate market, you should also consider having a home evaluation done in order to better understand what your home is currently worth. Armed with this information, you can make a well-informed decision about the potential sale of your home in Naples, FL.
One of the questions that homeowners have been asking quite frequently as of late has been whether or not realtors are seeing home prices dropping in Naples. Although the interest rates on home loans have been on the rise as a result of county-wide inflation, the current market in Naples is better than expected for homeowners.
Throughout the pandemic in 2020 and 2021, mortgage interest rates were at record lows below 3%, but this changed as inflation surged throughout 2022. By the end of 2022, the average national interest rate for a mortgage was 5.26%. Today, home sellers in Naples will be getting, on average, a 6.17% interest rate for a 30-year fixed rate mortgage. Although this is still high, it is not as outrageous as it could be, but home buyers are still reluctant to make an investment with interest rates that are higher than normal.
Will it Be a Challenge to Sell a Home in Naples with High Interest Rates?
According to Redfin, the Naples housing market is not as competitive as some other real estate markets. Compared to the housing trends in December 2021, Naples home prices have risen 11.0% in December 2022 though they do tend to sell for about 4% less than the asking price. Although the homes tend to stay on the market approximately double the length of time (17 days in 2021 versus 36 days in 2022), far more homes sold in 2022 than the year before.
Even though experts have been regularly estimating that housing markets could drop 20-30% before the summer months, this does not seem to be the case in Naples. It is true that interest rates remain higher than usual, but the real estate market in Naples is still active and the listing prices are still rising.
Those home buyers who want to live in Naples will be able to find homes for sale, and home sellers will be able to list their homes for prices that are generally higher than homes in other parts of the United States.
If you are a homeowner in Naples, FL, and you are considering selling your home, be sure to contact an experienced and knowledgeable local real estate professional such as ours at Your Home Sold Guaranteed Realty - The Cachon Team. Our Naples realtors will advise and guide you through the entire process and ensure that you get the maximum value for your home.
Our Realtors Guarantee to Sell Fast and Get Top Dollar
While the Naples real estate market may not be easy to control or predict, our real estate team at Your Home Sold Guaranteed Realty - The Cachon Team is here to guarantee that your home will sell quickly and for the highest possible price. No matter the housing market, Carlos and Lisa will use their ample experience and expertise to handle every aspect of your home sale and make sure you get the full value of your home.
Unless you have the skills and experience of a realtor, it is wise to allow those real estate professionals on our team to make sure the selling process is done as fast as possible. We understand the Naples real estate market and will use every advantage we have to get the price you deserve.
In fact, we put this in writing. With our exclusive Guaranteed Sale Program, you can rest assured that you get the price that you find acceptable or we will buy it in cash! If you are ready to sell your home and want to learn more about all of our great seller satisfaction guarantees, give us a call at (239) 399-5432 or fill out the form below with the requested information.
Our team will be happy to answer any questions and address any concerns you may have about home prices dropping in Naples or the real estate market in general. We look forward to hearing from you, and we guarantee you will be working with the very best real estate team in Naples, FL! Call now to learn more!