As a prominent resort market with a strong local economy, Naples is frequently covered in real estate media. Most recently, the Wall Street Journal reported that Naples and Collier County lead their assessment of markets offering distinct value to buyers.
'Buyer's market' is a term that can be misleading. While it implies that there is more supply than demand, it does not mean that a glut of inventory suppresses market value. Rather, a buyer's market is one that presents unique value to buyers because it offers a favorable breadth of inventory and enough margin for making a competitive offer. Moreover, a market with Naples' strength retains value for buyers who are investing in second homes or larger portfolios.
Another benefit of the buyer's market is that time is on your side. Because of the balanced supply, the urgency that drives compulsive bids in a seller's market is alleviated. Instead of apprehension that premium properties will disappear instantaneously, you have the opportunity to explore amenities and consider features that perfectly suit your preferences. That's not to say that exquisite homes won't be absorbed rapidly - educated buyers always stand to gain advantage through thoughtful research and working with a representative who has a command of the local market.
For further analysis, read the Wall Street Journal's August 15, 2019 report.
