There’s a pumpkin on the front porch, school busses get an early start every morning, and sunset comes a little earlier these days. It’s fall in Naples!

 

In real estate, that means local market data lets us look back on what’s happened in Naples real estate this summer.

 

Sometimes, it’s easy to get stuck in the “myths” about Florida real estate. But Naples defies those myths in all kinds of markets. Here are a few “Mythbusters” that will give you a clear view of what’s happening around Naples these days. 

 

Myth #1: Everybody’s buying at the beach. 

 

The Reality: The strongest real estate activity in Naples this summer was in our inland communities. Specific areas that showed strong buyer interest this summer were:

  • South Naples, where the condominium market was especially lively,
  • East Naples, the area east of Collier Blvd. 
  • Central Naples, the area between US 41 and Collier Blvd.,, south of Pine Ridge Rd. 

It’s not that beachfront properties are no longer desirable - far from it! - but many of these homes were the first to turn over during the market slowdown about five years ago. 

 

Myth #2: Everybody’s buying with cash.

 

The Reality: Cash sales continue to drive over 50% of the Naples real estate market, but home financing is making a return. Strong interest through the summer months, coupled with more home buyers seeking traditional financing, is an indicator of full time families headed to Naples. 

 

Myth #3: Bargain Priced Homes are where the action is.

 

The Reality: During Summer 2015 sales in the $1 million to $2 million price category outpaced all other categories with an incredible 79% increase over the same quarter last year. High end single family homes were an exceptional segment of the market this summer. In fact, single family homes over $300,000 saw consistent double-digit increases in closed sales this summer. 

 

You may be surprised to learn that the “under $300,000” price category is no longer the largest category of home inventory in Naples, as it has been in the past. Due to increased home values, many homes that were once listed under $300,000 have crept up in price, placing them in a higher price category. 

 

Myth #4: Prices are sure to drop soon. This is just another “bubble.”

 

The Reality: Home prices in Naples continue to move upward, and have consistently moved upward month after month over the past several years. Inventory of homes for sale is low right now, so demand for desirable properties is strong - and that means that prices will remain steady or climb. Our area continues to be a desirable destination for domestic and international buyers, for families and retirees, and for year-round residents and snowbirds alike. Our unique geography, easy access to the Gulf of Mexico beaches, great schools and public services, and top flight medical care will continue to attract buyers. 

 

 

My clients will want to stay well informed of market trends and keep in close touch as season gets underway. Let’s talk soon to find the right home for you!