NAPLES PIER AT SUNSET - FREE DAILY ENTERTAINMENT
Posted September 28, 2012
The Naples, Florida, real estate market gets lumped into national reports, such as SOUTHWEST FLORIDA or SOUTH FLORIDA. Keep in mind that we do have a niche market here in Naples, Florida. It's a great place to live, have a second home, or investment property.
Because we had some of the most aggressive appreciation during the recent real estate boom, we also had areas that crashed hard. There were price corrections in every area and community, including beachfront properties and private golf course communities. However, the recovery is in full swing. Quick indicators of recovery include cash investors, multiple offers, and hedge funds buying up large parcels for their portfolios.
The bottom line is.....you should never purchase a property unless you would consider living in it. But Naples does have some definite assets to offer even those wishing to get in at an entry level. Really great weather, terrific shopping and dining choices, plentiful cultural offerings, and a rather laid-back island lifestyle is enjoyed by full time residents. For three to four months each winter, almost 200,000 lucky visitors get to share in our Naples secret, too.
With current inventory listings levels the lowest in over five years, we're seeing very strong signs of positive movement. Our local area real estate board, NABOR [Naples Area Board of Realtors], reports overall Naples statistics, which also include surrounding areas. Below is the latest information released:
DWINDLING INVENTORY DRIVES HOME PRICES UP
Release Date: Friday, September 14, 2012
- Pending Sales: Increased 16% in the $500K-$1M category and 10% in the $1M-$2M category 12-month ending
- Closed Sales: Increased 16% in the $500K-$1M category and 12% in the $1M-$2M categories 12-month ending
- Median Closed Price: Increased 10% overall 12-month ending
- Inventory: Decreased 13% AUG 2011 - AUG 2012
- Average DOM: Decreased 55% in the in the $2M+ category AUG 2011 - AUG 2012
- Naples Beach area Pending Sales increased 10% and Closed Sales increased 9% 12-month ending
The requests for seasonal rentals have the phones ringing off the hook. While there are new rentals that become available on a weekly basis, most of the nice properties have already been booked for the 2013 season.
Naples, Florida....your special place in the sun.
