Supply of properties continues to rise

Nothing new in February:

  • Significantly more listings
  • Increasing days on market before a contract was signed
  • Fewer sales
  • And yet increasing median prices

The number of listings for sale are currently sufficient to supply the market for 8 months. According to the usual definition, this is actually a buyer's market, which should significantly improve negotiation opportunities.

These negotiation options currently exist. In February the sales price was in average 3.4% less than the asking price. And alone in Collier County, 680 properties have had their prices reduced in the last 7 days.

Apparently, the sellers had calculated increases like in previous years and priced their properties accordingly. Real estate in Collier County had a price increase of 50% from 2021 to 2023. In this respect, many buyers already see it as a success if they only pay 5% more than a year ago. 

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