Posted on Friday, December 16, 2011
What a difference a year makes. In the Naples MLS data (Sunshine) we see a big up tick in the Windstar and Royal Harbor neighborhoods sales volumes and our on-the-ground view is more investors tearing down and renovating with buyers looking for gulf access with canal homes or some nice bargains on condos.
We like to look at Naples real estate neighborhood by neighborhood. Broad national statistics or even broad city statistics can be mis-leading as neighborhoods may differ widely. Today we are looking at Royal Harbor and Windstar – both on Naples Bay with easy access to the Gulf of Mexico. Royal Harbor is slightly closer to town and Windstar on Naples Bay features Tom Fazio’s first Florida golf course, a shuttle to a private beach and the Southpointe Yacht Club – a deep water marina right in your own neighborhood.
By the numbers inventory is a little heavier than we would like to see – 15.48 months. We still expect downward price pressure at these levels. Inventory levels of 12 months or less is more to our liking so we would coach buyers to be tougher negotiators and sellers to be more flexible. There are 151 properties for sale (Sunshine MLS) this morning and 117 properties were sold in the last twelve months.
The positive news for this Naples real estate is the big upswing in sales volumes bringing these markets to life. In the last twelve months sales volumes are up 40.9% with a variety of buyers – international, boat owners, renovators, and just a bunch of folks who like to live near or on the water. 83 properties were sold in 2009-2010 period and 117 were sold in the trailing twelve months – now that is a pop!
Ask about properties in these neighborhoods. It looks like we are headed for a strong Naples real estate season in these neighborhoods if these trends continue and why not? On the water in a land which does not freeze next door to the heart of a 120 year old resort paradise. Nice.
Have a great Friday!
No legal or investment advice or suggestions are being given in this Blog. Actual real estate price and sales results are subject to market forces and are not completely predictable. Please consult a lawyer or investment advisor for such legal and investment advice. The writings of this Blog are intended for the sole use of our clients.
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
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