With September just behind us and the promise of perfect weather only weeks away the Naples, Florida, real estate market may have a supply problem come high season. The demand for homes this summer was fierce in producing high volume of sales, record-breaking sales, and a limited amount of new listings coming on the market. Old Naples is by far one of the most neighborhoods in demand for many reasons. There are many public access points within walking distance to the beautiful beaches along the Gulf of Mexico or it’s just a short drive. Fifth Avenue South, also known as “downtown”, continues to reinvent itself with the latest in boutique shopping and cuisine suited for the extreme “foodie”. Public tennis courts, a park that has band concerts and fairs throughout the year, art galleries and performing arts centers amongst other businesses make it a destination point for visitors from all over the world and locals alike.
Looking specifically at the Old Naples lower end single-family market over the past 3 months (summer activity) we have had 6 pending/sold and 8 active homes for sale. The success of newer home sales during this time period (5 sales) may have something to do with the run on tear down properties as builders reload their inventory. With this type of market we are going to see price increases over the next 6 months during season as demand increases. For more on the luxury real estate market in Naples, Florida, please contact Adam Carriero, Gulf Coast International Properties, at 239.641.3876 or firstname.lastname@example.org.