Good Time to Buy a Home In Naples?
The Naples Area Board of Realtors (NABOR) records and analyzes real estate market data and provides reports summarizing the economic conditions of our market in SWFL. Learn more about NABOR here.
According to NABOR’s recently published market statistics, Naples’ summer 2016 Real Estate market is one in favor of home buyers. While median home prices are up roughly 2% from 2015, our inventory of available homes has spiked roughly 37%. The abundance of available homes for purchase is giving buyers a wealth of options to choose from and is putting pressure on sellers to price listings more aggressively.
According to Brenda Fioretti, Managing Broker at Berkshire Hathaway, “the properties selling now are homes by owners who have priced their properties realistically.”
This is great news for buyers, considering that Naples has one of the most expensive real estate markets in Florida. Buyers also have the advantage of affordable financing - with mortgage rates still at a historical low point, there has never been a better time to purchase a home.
The recent spike in the number of homes for sale is partially a result of the abundance of new construction in SWFL. With the large number of new communities under construction, buyers have the option of purchasing a brand new home at a great price instead of choosing a resale property that may come with unforeseen maintenance issues.
Here are a few of the new communities being built in Naples:
The report is refreshing news to those looking to purchase or invest in real estate in SWFL. It shows strong signs of a healthy real estate economy and indicates a promising future for homeowners.
Contact Premier Property Management about purchasing a home: