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Friday, September 27, 2013

Naples and south Florida real estate market getting back to where it once belonged

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        The rule of thumb for the real estate market after 2007 was that those areas whose prices had risen the fastest and farthest to that point wound up falling quicker and deeper post 2007. Think Phoenix, Las Vegas, Miami and Naples.  But after paying the piper for those wild swings upward, those markets are seeing some of the most robust price increases in the last couple of years as baby boomers who put their retirement relocation plans on hold in order to rebuild their portfolios are back in motion again. Naples, for example, is hot again, according to the latest data from the local Board of Realtors.

        In August, median home prices in the Naples area rose for the 14th month in a row, hitting the $229,000 mark, up from $175,000 in December 2011. The supply of homes for sale under $500,000 in August, 3,225, was significantly lower than in August 2012, when there were 4,151 for sale in that price category. For homes listed at $2 million and above, sales increased a robust 30% year over year in August. And the average time homes spent on the market before they sold dropped by 12% from August 2012 to about the five-month level. That is making sellers feel a lot happier and potential buyers feeling a little more of a sense of urgency.

AudubonPinkClubhouse

Pretty in Pink:  Naples Audubon Country Club golf community features a dramatically colored clubhouse, a beautifully landscaped course and nicely decked out homes.

 

        Local real estate officials believe that the lower inventory and increasing prices are responsible for a better than typical summer sales season. It takes some sweat equity, literally, to look for homes during August in southern Florida, but apparently potential buyers looking for the warmest possible winters are feeling the heat to make their moves now.

        The Naples market offers a surprisingly wide range of golf community options, including some lower priced ones, especially for condominiums. We are currently listing homes for sale in six of Naples' finest golf communities, including Heritage Bay, where condos begin at around $165,000 and the golf course, which we played, is fun and challenging, especially when the breezes kick up; Audubon Club, whose iconic pink and white clubhouse is in almost constant view from the Joe Lee golf course (homes priced from the $500s); and the upscale Mediterra, with amenities that include two Tom Fazio golf courses and an immaculately dressed out bocce court, and homes that are priced as high as $5 million (but with some fine homes around $600,000).

        Please check out our listings of current golf homes for sale in Naples by clicking here. Any questions? Please contact me.

HeritageBayfairwaytohomes

Heritage Bay is about 20 minutes from the beaches, but the Gulf breezes can add to the fun on the smartly laid out golf course.  Adjacent real estate runs the gamut from condos (starting around $160,000) to villas to single-family homes.

Read 3395 times Last modified on Saturday, 09 November 2013 17:20
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Larry Gavrich

This blog was conceived and is published by me, Larry Gavrich, a former corporate communications executive who founded HomeOnTheCourse, LLC, in 2005.  Our firm advises baby boomers and others seeking a lifestyle in which golf is a major component.  My wife Connie and I own a home in Connecticut (not on a golf course) and a condo at Pawleys Plantation in Pawleys Island, SC, on a Jack Nicklaus layout.  We began our search for our home on the course more than 15 years ago, and the challenges of the search inspired me to research golf communities and write objective reviews of them.

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