Posted on Monday, August 19, 2013
It seems Naples area price increases continue to spread. Many of our buyers first looking at Olde Naples turn their eyes north to the Crayton Road area where lakes and bays and canals abound and some recently redone properties are available. Many properties offer a short walk to the beach and only a bike ride to Olde Naples. Not bad.
This morning let’s take a look at the Crayton Road Area and availability (all figures from Sunshine MLS).
We always like to start with inventory – the relative balance of supply and demand drives prices as we all know. In the Crayton Road Area single family home market we see 66 properties available with 124 sold in the last year giving an inventory of 6.38 months. A relatively normal balance (school books might call 6 months inventory a sign of a market in equilibrium). So what? Well county-wide we see a tighter supply picture so this might be an area where buyers have a better chance of finding something.
The condominium market is a little more scarce. With 198 properties for sale and 443 sold in the last year the inventory here is 5.36 months – a little hotter – but still many good opportunities.
Prices are on the rise here. The average price of properties in the Crayton Road Area is $855,000 but beware of average statistics here – there is a wide range of price points.
Properties with water views come with a higher price tag and more scarcity as we would expect. Only 16 single family homes are available with water views and they range in price from $1.5 million to $5.7 million. But … inventory here is a full year so things are moving more slowly and sellers may be willing to give a little.
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No legal, investment, or tax advice is being given in this Blog. Consult with legal, financial and tax professionals before acting on any real estate transaction. Actual real estate price and sales results are subject to market forces and are not completely predictable. The writings of this Blog are intended for the sole use of our clients.
Some of the data relating to Naples homes for sale and Naples real estate for sale on the NaplesBestAddresses.com website comes in part from the Broker reciprocity program of M.L.S. of Naples, Inc. The properties displayed here may not be all the properties available through the MLS reciprocity Program. This information is deemed reliable but is not guaranteed. Buyers and sellers are responsible for verifying all information about their purchase prior to closing.
Mark Goebel, PA is a REALTOR with Coldwell Banker on 5th avenue in Naples, Florida with 35+ years of visiting and living in Naples. After 25 years at Accenture, Mark retired as a managing director and spends his time helping non profits and building a Naples real estate team with his wife Nan. Talk to Mark and Nan about life in Naples and why they chose this place to live full-time over all others and enjoy Naples real estate.
Mark Goebel, PA REALTOR Coldwell Banker 5th Avenue South Mobile: 239.595.3921 NaplesBestAddresses.com Facebook: NaplesBestAddresses Youtube http://www.youtube.com/user/naplesbestaddresses?feature=results_main