Home Prices Up – Inventory Down
The yearly trend of decreasing median home listings in Naples has continued into April. Over the past month, the median listings price took a slight dip, with less than a 1% decrease, and a 4% decrease over the past year.
Distressed sales are also at their lowest point within the past year, indicating a strong Naples real estate market to come. With an influx of new home builders and communities being developed, this is a buyers market that should attract a number of home buyers and investors. Home prices are 11% over the average pricing in 2014, with homes priced above the grid driving other homes in the area to sell at higher prices.
On average, the lowest priced homes are apartment complexes that have been converted into condominiums, which can be advantageous for those who wish to live in the area, but want to avoid the costs. The lower-priced homes have been doing well in the market, and have added to the buyers market in a positive way. The Naples real estate market is on the rise, with a promising snapshot of what is to come over the coming months. On average, this area does well in comparison to other places in Florida and continues to be a draw for home buyers who want beaches and luxury at the same time.