Posted on Wednesday, September 05, 2012
Well it was probably going to happen with our lower inventories, beautiful beaches and year round climate. Average sales prices for single family homes near the beach (Crayton Road, Olde Naples, Port Royal, Royal Harbor/Windstar) have once again climbed above $2,000,000 for month end August (Sunshine MLS).
How often new buyers come to us and say they are looking for single family homes near the beach (I do not blame them) but get ready to pay some money. True, today’s results are average prices and you may find something closer to $1,000,000 if you look but be ready for typically older construction or a lot of remodeling work.
Build one yourself you say? We look at that too, as do many folks in town. After all why not buy, tear down, rebuild and sell. Well many times the market priced in the value of that maneuver into the existing old place. I drove around Olde Naples yesterday calling phone numbers on signs, looking at the MLS and doing a little sleuthing. Result? You may buy an old house for “lot value” in the $700,000 to $800,000 range a ways from the beach but by the time you scrape and rebuild you may well be right back at the new home market price. Sure deals are out there but work with a Realtor closely like us to find them.
These solid price results in Naples Florida are consistent a nation trend. Yesterday Corelogic reported a 3.8% year-over-year price index jump (http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=3&id=280633). In their report they say “Home prices nationwide, including distressed sales, increased on a year-over-year basis by 3.8 percent in July 2012 compared to July 2011, according to CoreLogic’s monthly Home Price Index (HPI) for July. It was the biggest year-over-year increase since August 2006.”
The Naples Florida real estate market is back with low inventories, solid off season volumes and a look ahead to high season. Give us a call at 239.595.3921 or see us at NaplesBestAddresses.com if we may help you with your real estate needs.
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 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 Email: email@example.com NaplesBestAddresses.com Facebook: NaplesBestAddresses Twitter @mcgoebel Naples Best Address – Where The Best Address in Naples Real Estate Is Yours