Port Royal. Aqualane Shores. Olde Naples. Mediterra. Grey Oaks. Are these Naples luxury real estate markets still buyer's markets? While I think so now, the level of activity and draw down on inventory suggests to me that it is fleeting at best.
Both our office and the MLS closed sales show an incredible amount of confidence and buyers belief in the values on the market. Port Royal, for instance, has and will show some significant closed sales in the next few weeks. Olde Naples as well. We actually have some seller's who feel confident in getting multiple offers and strongly countering buyer's, which is an about face from even 6 months ago with Port Royal real estate and Naples waterfront properties.
We will see what happens, but all indications are that the buyer's market is going to send in the near future, prices will start to climb, and the market in Naples, Port Royal, Olde Naples, and others will change direction.
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