There’s an old saying, “The numbers don’t lie” and that’s certainly true of Naples-Marco Island real estate. According to the Naples Area Board of Realtors, the average home sold for a bit over $100,000 in June of 2012; the average in March 2013 was around $178,000 and the increases show no sign of abating. In the first quarter of 2013 pending sales in SW FL were up 24% year-over-year and days on the market is down by 5.
Although the market has (thankfully) not yet returned to multiple offers and even over-offers, the window in which to buy at an attractive price is rapidly closing. We still receive calls from buyers who think the market is “on fire” and we also get calls from people who want beachfront property with a pool for under $100,000. The fact is that the market finds its own level and the key to understanding the market and conducting a fruitful negotiation can only be accomplished with knowledge of where the markets sits at any particular point in time.
The Naples-Marco Island real estate market ebbs and flows; the slow summer season traditionally sees prices soften, which creates a good buying opportunity. If you’re thinking of making an investment, we invite you to spend some time scouting out the market. There are still some great real estate bargains at all price levels -- IF you know where to look.
As always, Gina and I stand ready to help you identify your dream home and help you negotiate as great deal.