Real Estate Market Update From The Paradise Coast Naples Florida
Joe Muni P.A. MBA SFR ABR CSMS
Naples is the crown jewel of Southwest Florida, located on the sun drenched shores of the Gulf of Mexico. Naples is known for its incomparable shopping, the finest cuisine, and an unending supply of the world's most challenging golf courses. Visitors and residents are only steps away from the splendor of the "River of Grass" better known as the Everglades. Boasting some of the nation's best sand and calmest seas, Naples makes a splash with water lovers and recreationists. Friendly parks attract sports enthusiasts and picnickers with lovely green spaces and recreational facilities.
The Naples real estate market is one that has been very volatile over the past two years as we have seen and heard about nationally. If you are seeking an investment property, vacation home or are a first time home buyer, heavily discounted homes have flooded our market...Now is the Time To Buy Naples, Florida.
We have seen an average price decline of 45% from market peak in 2006 on single family homes and condominiums. Many of our sales are still found in the under $500k price range for single family homes, and $250k for low rise condominiums. Home sales over $1 million are also holding steady with heavy discounts as well. The best market in Naples is currently beach front with average sale prices over $2 million. We will say it again......Now is the Time To Buy Naples, Florida.
My team specializes in distressed sales and luxury resale's. Foreclosure sales and Short Sales account for many of the sales in our market right now and this trend is expected to continue through 2012. Naples averaged 500 closed home sales a month this summer season.
Now, with our "snow-bird" season beginning in November and ending in April, we are expecting a buying craze like no other! In addition, the number of Foreclosure Sales on the market has decreased by over 30% due to strong sales since January 1st, 2011. With this in mind, and long term interest rates hovering around 4%, decide now to buy that vacation home. There are still many deals out there, but the TopTen deals are becoming more and more difficult to catch!
Joe Muni of The Grant Team