It’s summer in Naples! And while the red hot real estate market of recent months has slowed just a bit, our most recent market report shows that home sales are steady and the market is stable. 

What’s happening right now in Naples real estate?

When it comes to the bottom line, prices are up. Overall, closed prices are up 10% over last year at this time. Great growth, for sure….but even more striking when we take a longer term look. In July, 2013, my blog reported that prices on single family homes had jumped 26% over 2012 prices. Let’s look at a typical home price and see what these price trends really mean. 

For a Naples home priced at $500,000 in 2012….

  • Market price increase takes 2013 price to $630,000
  • Market price increase takes 2014 price to: $693,000

As I have reported consistently over the past year, inventory in the Naples market remains snug this summer. While the inventory of single family homes is down slightly compared to last year, condominium inventory is down 20%. New home construction continues to offer options to buyers, especially in the single family home market. 

Where are the busiest areas in terms of sales? The Naples Beach areas, including properties west of US 41, and North Naples remain most popular. 

What price bracket is most active? Without a doubt, top end luxury homes are our strongest sellers. Sales of homes in the $2 million + price category continue to climb dramatically. 

My clients need to know that most desirable homes are selling fast. Our data show that last year, the average home was on the market for approximately five months. Today, that average is only three months. And that average is just that….an average. Yes, some listings linger on the market; but as you can imagine, these homes tend to be the ones that my clients choose to bypass. Others - those that have curb appeal, wonderful views, and the most-wanted amenities and finishing touches? In short, these homes fly off the market. 

As we move into the dog days of summer, I hope that all of my clients take the opportunity for some well deserved R&R. Enjoy!