If you take a look at southwest Florida’s economy, you’ll see that tourism is up.
Retail is up.
Job growth is up.
Airport traffic is up.
Incomes are up.
And of course, Naples is known worldwide as a peak Florida destination for home buyers.
All of those positive economic indicators mean that home prices are on an upward track as well.
According to research firm Local Market Monitor, single family home prices in the Naples/Marco Island area sit as the highest in the state, and there’s still potential for prices to rise. Single-family home prices for the Naples area reached a median of $276,086, the highest in any of the 20 cities they tracked in Florida. That’s an 8 percent bump from the same quarter last year.
More specific data from the Naples Area Board of Realtors show that the median sale price of an existing single-family home reached $375,000 in April, an increase of 24% over the same month in 2013.
Predictions are for double-digit price increases over the coming year. Prices in Naples-Marco Island are expected to rise an additional 11 percent by the second quarter of 2015. By the second quarter of 2017, cumulative price increases for the three-year period will have reached 29 percent in Naples-Marco Island.
Naples continues to be a vibrant community with all economic indicators looking positive. Invest in YOUR piece of paradise - you won’t be sorry!
Resources:
Fletcher, June. Area Home Prices Due to Jump by Double Digits in Next Year, Research Group Says. Naples Daily News. June 4, 2014.
Naples Home Prices Spike. Business Observer. May 29, 2014.
