Regular blog readers keep a finger on the pulse of the Naples luxury home market through my monthly market updates. The Naples Area Board of Realtors provides detailed statistics and analysis; I summarize these monthly, providing highlights that may be of interest to my clients.
As 2013 kicked off, the Naples market started strong. This continued the steady upward trends we saw throughout 2012, with a few striking high points.
When compared to January 2012....
- Home inventory (the number of existing homes for sale overall) is down 13%.
- The number of closed sales continued to build strong momentum. Sales in the $500,000 - $1 million market segment increased a tremendous 31%.
- Pending sales are up over 20% in the $300 K - $1 million price categories.
- Median prices increased 16%.
- Average days on the market decreased 7%.
In other words, there is less to choose from in the existing home market. properties are moving faster than they did a year ago, and prices are up, when compared to last year. Finding the right home requires buyers to work closely with a dedicated Realtor who is able to communicate well and move quickly when desirable properties become available.
Current market trends tell us that Naples luxury real estate is a great investment. Our market is on the upswing, and your timing couldn’t be better to choose your next home. Whether you are looking for a vacation home, a larger home to meet your family’s needs, or are downsizing to a condominium, I am delighted to work with you.
Especially in a market on the move like Naples, a professional realtor is a tremendous asset. I look forward to working with you!
