The following was taken from a Bloomberg.com article last week:
Sales in the Naples area last year rose 10 percent, the first annual increase in at least five years, while the median price for homes listed at $300,000 or more gained 4 percent to $544,000, according to data compiled by the Naples Area Board of Realtors. About half of the properties in the market are second homes, and discounts from 2006 peak prices average about 25 percent, said Brenda Fioretti, president of the group.
“Wealth determines to house, and the good places pick up first,” Karl Case, 64, a professor emeritus in economics at Wellesley College in Massachusetts who has been visiting Naples since a family vacation took him there when he was 13, said in a telephone interview. “For people with deep pockets, it’s generally a flight to quality.”
This confirms what we in the Olde Naples, Port Royal, Aqualane Shores areas of real estate already knew. For more information on the current inventory and recent sales, please contact Andrew Arreola with Gulf Coast International Properties at 239-821-3560.