Dr. Snaith's Forecast for Naples Growth through 2022 (photo courtesy Sean Snaith, PhD)
2019 Economic Summit, "A View from the Top," was held o Thursday, May 9, 2019 at the Hilton Naples. The three guest speakers provided a qualitative look into factors affecting the economy and provided analysis surrounding influencers affecting growth and home sales activity in the near future.
You might enjoy reading the full article, as the speakers are each shared a wealth of valuable information as it relates to the real estate market and the economy here in Southwest Florida. A few of the noted highlights I enjoyed are here:
A leading expert here in Naples, Fl is Cindy Carroll, SRA, with the real estate appraisal and consultancy firm Carroll & Carroll, Inc.. She noted that in the condominium market, "....issues like pending insurance claims, infrastructure repairs or modifications to association rules are not listed in the MLS and might affect a buyer's decision." This is very true and why it is highly recommended to work with a local Realtor who will likely bring to your attention items to pay close attention to when making a purchase decision, or valuing your property to sell. And as always, properly priced listings will prevail!
Cindy also highlighted statistical data showing that about half of the local condominium market in Naples is under $300k, and that 42% of all single family listings are located within the 80 square miles of Golden Gate Estates with only 5 months of inventory compared to the 8.1 months of overall inventory. Golden Gate Estates is a fabulous option for homeowners desiring more land, and no deed restrictions to their property as you will find in typical gated communities in Naples, FL.
Randy Krise, Chairman of the Lee County Port Authority Special Management Committee long-time commercial REALTOR® in Southwest Florida stated that ".....RSW is the busiest single runway airport in the country," and said one incident on the runway could halt incoming and outgoing flights for several hours. "......There is currently a proposal to also build an additional 9,100-foot runway."
Closing out this fabulous Summit, Dr. Sean Snaith believes that "..........2019 will produce another 3%+ a year in GDP growth, and that if we want faster economic growth, we must put more people in Florida's workforce." Sean Snaith, PhD, is an economist with the Institute of Economic Competitiveness at the University of Central Florida, which does economic forecasting for the state and its 22 counties.