The Naples luxury real estate market shows great momentum as we head into summer. It’s clear that clients are serious buyers, not just “browsing around.” I’ve predicted for the last few years that Naples real estate was headed away from a seasonal market to a thriving year-round market, and that prediction has proved true.
In April, our local Board of Realtors reported more closed sales than any month to date since it began tracking sales - over 1000 closed sales, and an additional 1000+ pending sales in April alone. That’s right, more homes sold in April 2014 than in any month since records have been kept!
And once again, the $1 million plus price category is solid, with a 25% increase in the number of sales over April 2013. Homes over $2 increased a stunning 56% over last year.
Along with strong sales, we see a steady increase in prices across all categories. In every neighborhood from East Naples to Park Shore to Naples Park and Ave Maria, closed prices have increased by double digit percentages.
Prices of both new and existing homes are up 14% overall. And new construction is on the rise across Collier County, as you’ll see on a short drive along US 41, Immokalee Rd., Collier Blvd., or Livingston Rd. These new homes add significantly to the pool of options for buyers.
There’s no doubt that a home in Naples is a solid investment; prices have been on a steady upswing for the last two years. Single family homes and condominiums alike are moving steadily upward in price.
And the Naples market is unique in that sellers have no problem finding qualified buyers. Over 70% of home purchases in Naples are cash purchases.
I anticipate a terrific summer season as our market continues its steady upward trend.
For my Northern friends - if you think that now is the time to consider a home in Naples to escape from the brutal winter months - you’re right!
For local clients who may be looking for a larger home or to make the “downsize” move to a condominium - let’s talk about your needs so I can keep a close eye out as new listings become available.
New homes….condominiums…single family homes…existing homes….investment properites…vacation homes….the Naples area has something for you!
