May Sales Trim Inventory Heading into Summer

The May numbers are out, and they are easy to misread if you only catch the headlines. Sales were up, prices held, and the supply of homes for sale kept shrinking. That is not a market losing steam. It is a market settling into a healthier rhythm.

The quick version: closed sales rose almost 14 percent over last year to 900 homes, inventory fell 22 percent to 5,299, and the median price edged up to $599,900. One number that tells the real story: 1,243 price reductions in May against just 56 increases. The homes that sell are the ones priced to today's buyer on day one.

My full May Market Update breaks down:

• Why fewer homes for sale protects your value
• The single family and condo split, two different markets right now
• Why your launch price is the whole game if you are selling
• Why waiting on rates usually costs buyers more than it saves

Read the full May market update here.

If you have questions about your property, your community, or the Naples market overall, feel free to reach out anytime.

Mike