The Naples, FL, housing market has returned to its former lofty heights. In May alone, sales in the popular $300K to $500K category increased by 30 percent over the same month in 2014, with 236 homes sold and closed in that price range compared with 181 in May last year, according to a report by the Naples Area Board of Realtors, or NABOR.
Because home prices have risen in the Naples area, there are more homes for sale above the $300,000 threshold. In fact, as impressive as sales were up to the $500K level, it was the $1 million to $2 million price category that outperformed all others, with 44 such homes closed in May compared with 32 in 2014, for a significant 38 percent increase.
Condos sold in the $300K to $500K range also vaulted 38 percent between May 2014 and this past May, although the median price for condominiums sold did not change by more than 1 percent (median price for single-family homes in the same price category increased just 2 percent to $380,000).
For those considering a home in Naples, overall inventory numbers are important as they tend to signal how prices may move in the coming months. Overall inventory was down year to year by just 3 percent; however, single-family homes priced under $300,000 decreased by 34 percent. On the other hand, if you have more than $2 million to spend for a condominium, inventory of those increased a whopping 83 percent.
Our agent in Naples, Jeff Feldman, has a wide selection of homes for sale across six of the area’s finest golf communities. Click here for a rundown on those golf communities and access to his current listings.
