Wednesday, May 12, 2010
Currently, if a buyer asked me to find them a newer home (built 2007 or later), on the water in Naples with direct gulf access; there are presently only 16 to choose from in *MLS. These homes list from $2,195,000: a 2-story Bermuda-style 4 bedroom boasting over 4,300 square feet of living area (that's about $500. per sq ft.) with a beautiful pool, spa, waterfall, outside fireplace, summer kitchen, elevator, built-in electronics, wine cellar, top of the line appliances, etc etc...you get the picture--to a furnished residence on a southern exposure homesite in prestigious Port Royal with an asking price of $ 14 million! *The average list price per square foot of these homes built 2007 or newer is $585. per sq ft.
Of the 16 direct access homes for sale in this category, only 5 are listed under $3 million. All five are in the Royal Harbor Area (NA 08).
One of the "best buys" is a lovely southern exposure 4 BR + den, 4 1/2 bath residence featuring a luxurious Master suite and bath, a negative edge pool with spa and cascading spillover, a 50' boat dock with 20K lb. lift, and a second floor 'sunset' room where you are treated to views of the gorgeous sunsets over Naples Bay each night! This home is aggressively priced at $2,399,000. ~Click HERE for a virtual tour of this amazing waterfront home.
For information about the waterfront opportunities here in Naples Florida please call us today at 239.370.0574 or log onto our Previews website at www.NaplesPreviews.com
Thursday, May 6, 2010
There's a lot going on in the Naples real estate market. Here's a brief recap.
- The average sale price in Naples is $357,010. In April 2009 the average sale price was just under $350,000. In March of 2010 it went above $400,000 for the first time since November 2008.
- In January through April 2009 there were 11,243 new listings taken in Naples compared to the first 4 months of 2010 when 10,441 new listings were placed into the MLS. Presently there are 7,676 active listings. Of those 1,441 are Previews Properties (those listed at or above $ 1 million dollars). Conversely, 43.4% of the current inventory is priced below $300,000.
- There were 1,384 listings that went under contract in April 2010 as compared to April 2009; an increase of approximately 17%. Of those that pended last month, 73.4% were listed at or below $300,000. This price range continues to drive our market.
- 18% of the active listings in Naples are Previews Properties vs. only 303 of the 4,373 closed sales TYD having been listed at or above $1 million dollars which translates to only 3% of the closings.
For the purpose of conducting property searches, Naples is divided in NA zones (Naples Areas) numbered from 1 through 48. In reviewing the averaged closed sale statistics over the past 12 months only two NA zones showed an increase in average sold price; that being NA 02: Vanderbilt Beach, and NA 07: Aqualane Shores and Port Royal. It is always favorable when the high end of the market shows signs of recovery.
Interest rates are holding fairly steady, although it has been predicted that they may rise intermittently over the next 6 months and level out around 7%. This may get some hesitant buyers off the fence, but won't effect us as much as could be expected as 68% of our office's closed sales YTD have been cash transactions.
As always, Chip & I welcome your comments and questions. We can be reached at 239.370.0574 (direct). We look forward to hearing from you and hope to earn your business.
*Information has been derived from the Naples multiple listing system, SunshineMLS, and are deemed reliable but not guaranteed.
Tuesday, May 4, 2010
Several years ago, the brainchild of The Downtown Naples Association, Naples CityFest, became a reality. What began as a celebration for the "locals", who endure the influx of our wonderful snowbirds from approximately October through April, has now become one of the best city festivals of the year! ~And, this event occurs not only in May to kick up our heels at the end of "season", but once again in October...to mark a "season" kick-off, when we are all preparing for the population and traffic to increase in numbers unfathomable if you just happened upon our sweet little town in say, June or July!
For those of us who live here year round, Naples takes on quite a different personality in the off season. Some changes are more subtle than others, but some are distinctly obvious: no long lines at the grocery store, no need to make dinner reservations at the popular restaurants weeks in advance...in addition to that type of thing, the flowering trees in Naples are magnificent this time of year...Purple Jacarandas, Yellow Tabebuia (photo inset-click to enlarge), and Bright red Royal Poinciana trees lining the downtown streets! It's kinda' sad that the snowbirds leave before these trees explode with color, but in a way I count it as a reward for the natives at the end of a long 'winter" after working long hours and catering to our northern friends. Trust me, the spectacle that these trees afford us is indescribable. Come on down to Naples in May or June and you'll be treated to a very special place indeed.
Naples slows down to a pace similar to what I remember drew me here in the first place nearly 33 years ago. The local shoppes have some unbelievable off season sales, golf courses have incredible summer rates...and so, although we couldn't make a living without the annual migration of the snowbird, we do all look forward to getting our city back when they fly home in the Spring. ~Thus, the idea for Naples CityFest. A two week long party to bring locals downtown with events planned daily and nightly! Two full weeks of fun hosted by the downtown retail areas! There's going to be a block party on 5th Avenue South this Friday night. Other activities can be found by clicking on the Naples News link HERE!
Saturday, May 1, 2010
It's May 1st, and the polls are closed on the NaplesRealEstate.com blog.
60 days ago I posted this question: "How did you find NaplesRealEstate.com?"
The results are in! 70% of the respondents found us by looking in a search engine, 20% read about us in a print media publication, and 10% by personal recommendation.
It pays to be on the 1st page of Google where over a quarter of a million unique visitors a month surf on NaplesRealEstate.com!