Here’s an infographic to explain (generally) what’s happening in the Naples Florida real estate market:
Is this a market boom? Or is it just that the market has been undervalued for years (since the boom/bust/recession) and now is correcting to a more accurate market valuation? We have a strong buyer demand, low inventory, and a desirable location. This makes this valuation not only foreseeable but somewhat overdue.
Now, with remote jobs, Covid and baby boomers, there’s much more flexibility in where one can call home. As such, why live far from a beach, sun and year round outdoor activity? Add into that no state income tax, low property taxes and you’ve got the a great real estate market.
There’s a shortage of all types of inventory whether resale property or new construction. As a result we’re seeing an increase in cash purchases and cash sales were 57.9% of the closed sales in February. We’re seeing properties that are being listed and going under contract within a day or two especially in the most desirable areas. Condo sales are up as homeowners are downsizing to take advantage of the new values their homes have. The current Naples Florida real estate inventory is down 69% and pending sales are up 51%.
Now is the time to have experienced, professional, full time Realtors working for you and your family. With over 450+ sales in SW Florida, we’ve got a proven track record and would be happy to discuss your purchase or sale of real estate here. Give us a call at 239.293.0246 or email us at napleslaw@yahoo.com
Time to buy a piece of the sun!
