Monthly and quarterly market data from the Naples Area Board of Realtors is out, and the data paint a picture of a complicated real estate market here in Naples. 


As this blog has pointed out over time, the inventory of homes for sale in Naples is tight. In fact, it’s down about 10% when compared to a year ago. 

Does that mean that there’s nothing for a Realtor to discuss with prospective buyers? Hardly!

Realtors know that demand for quality Naples properties remains high, and that Naples is one of the most desirable markets in the nation. We are now balancing client needs with our knowledge of new construction and a limited number of existing homes on the market. And in fact, new home sales play an increasing part in the total Naples real estate picture, with over thirty new developments under construction. 

Personally, I work with my clients to determine their needs and desires. Some are indeed drawn to new construction, and Naples’ newest communities offer beautiful homes with great amenities. Others point out that a location near the Gulf is high on their list, so we limit our searches to existing homes west of US 41 - an area where new construction is almost non-existent. Some buyers don’t flinch at taking on an older home renovation, while others prefer a new home that is move-in ready. 

What does the current sales data look like here in Naples? Here are a few important factors for my clients to know:

  • September sales were steady and prices continue to climb. 
  • Yes, inventory of existing homes for sale is down about 10% overall, compared to this time last year. 
  • 3rd quarter 2014 sales were also down correspondingly, about 10% overall. But when we look closer, we see some important details within this figure.  
    • The real dip in sales was found in homes under $300,000. 
    • Above $300,000, the number of pending sales in every single market segment went up. 
    • The inventory of homes available under $300,000 declined most significantly.
    • Other market segments showed actual increases in the number of homes for sale. 
  • The most active market segments are single family homes over $2 million, and condominiums between $1-2 million. 

Recent news articles highlighting Naples real estate point out that over 60% of Naples home sales are cash sales. Our market is fueled by international buyers, baby boomers seeking second homes or retirement homes, and investors. And just yesterday, an analysis of real estate prices across the state revealed that Naples and Marco Island lead the state in home prices. 

So while things overall appear to be stable, or even down just a touch, in our local market - don’t be misled. The current market is complex. Finding the right home for you will mean a careful balance of your needs, the inventory of homes on the market, timing, location, and many more variables. 

 

Ready to look for your dream home in Naples? Let’s talk! I’ll be glad to help you navigate this complicated fall market!