Old Naples Market Update

At Gulf Coast International Properties, we provide our clients with two reports per year on neighborhood market trends. I have created the Old Naples report on single family homes sales for the last several years, and am starting preparation for our mid-year report due out in June. I thought you might like to get a glimpse of the activity as of today since the beginning of the year (based on MLS excluding beachfront):

                                     2014                     2015                      % Change

Number of Sales               39                        22                         (-44%)

Total Sales (M)             $118.9                    $73.5                     (-39%)

Average Sale (M)              $3.05                  $3.34                       +10%

Mean Sale (M)                  $2.55                  $2.975                     +16%

Highest Sale Price (M)        $6.6                  $7.1                         +7%  

Out of the 83 active listings, there are currently about 30 new spec homes on the market. Year to date, 6 new homes have sold; in 2014, 16 new homes sold by this date. Now that we are heading into what should be the typical summer market doldrums, I am telling my clients who are looking for a new home in Old Naples that this is a good time to negotiate a favorable deal.

If you are looking for a home in Old Naples, please contact me. I live here and specialize in this very desirable neighborhood. I would enjoy putting my expertise to work for you.