Tuesday, August 16, 2011
Naples Real Estate On the Waterfront
What's is happening on the Naples Waterfront?
According to the Naples Area MLS there are 214 single family homes currently for sale that fall into the category of "gulf access". Of those, 119 have 'direct' access; which means there are no bridges from their dock to the gulf.
Of those 214 Active homes for sale, 35 are listed under $500,000. 16 of the 35 are 'direct' access homes, with most of those located in Goodland, Isles of Capri, Little Hickory Shores, and Gulf Shores off of Bayshore Drive. One of the best buys in this price range is a renovated 3 BR/ 2 BA on a large corner lot which will accommodate a small flats boat, wave runner or kayak. It is listed for only $129,900. and is located in The Bayshore Gateway Redevelopment District. It's a super value! Click here to view one of Naples Best Waterfront Values.
There are another 35 Active listings priced from $500,000 to $999,999. Twenty-two of them have 'direct' access including a 2 BR/ 2BA in Golden Shores listed at $599,900. Another 'Best Buy' is a 1960's vintage 3 BR/ 2BA without a pool on Tarpon Road in Royal Harbor listed at $649,500. This is a neighborhood where it would have been difficult to find a home listed under $1 million when the market peaked.
Once you get into the $1 - $2 million price range the inventory is down to only 18 Active homes for sale. These listings are scattered around Naples in the Royal Harbor area as well as Connors Vanderbilt and Aqualane Shores. There are only 8 homes for sale priced under $2 million built 2000 or newer! I think the very best buys are 2031 Tarpon Road and 1360 Pelican Avenue. [click on the addresses for additional info and to view the virtual tours].
Expand your search above $ 2 million and you will find 30 single family homes listed that were built 2000 or newer, on the water in Naples MLS. Most of these are in Aqualane Shores or Port Royal. The highest priced newer home currently listed is located on Galleon Drive. It has approximately 9500 sq ft of Living Area, built in 2006, and the asking price is $14.9 million. There are 48 homes for sale in Port Royal.
There have been 127 single family gulf access homes closed year-to-date in the Naples MLS. That gives us just a 15 month absorption rate. 54 of the closed sales have been listed under $1 million-with only 69 Active single family homes presently listed under $1 million that calculates to less than a 1 year absorption rate in that price point. Those waterfront homes that are priced well will sell! Timing is everything, and it seems like the market is finally meeting the sellers expectations and the price that the buyers are will to pay. An interesting side note: of the 214 Active listings, only 12 are short sales, and there aren't any foreclosures!
If you would like additional information about Homes for Sale in Naples Florida, please contact a member of The Harris Peppe Team today. 239.370.0574
Thank you, and make it a great day!
The Naples Real Estate Blogger
*all data and info derived from the Naples multiple listing system and is deemed reliable, but not guaranteed.