Naples, Are You Ready For The News?
The Naples Sun Times has this report on real estate. "Sellers, are you ready for the news?""
"In February 2006 there were 5,417 single family homes listed for sale in the Sunshine Multiple Listing Service (MLS) of the Naples Area Board of Realtors, of which 204 sold. There were 5,289 condos/coops for sale, of which 179 sold."
"Let's do the math: 5,417 plus 5,289 equals 10,706. Divide that by 383, which is the number of homes that sold (204 plus 179). What do you get? 27.95? That means that in February there was a 28-month supply of homes for sale. In other words, if no other homes came on the market, it would take 28 months for all homes listed for sale to be sold."
"What is the likelihood that no more homes will come on the market? And these figures don't reflect homes sold or offered for sale not listed on the MLS."