It is becoming more apparent that the housing market in southwest Florida is stabilizing...across the board. According to a recent report compiled by RealtyTrac out of Irvine, California, sellers are getting more for their resales and foreclosures are down, as well. For example, Collier County sellers saw an average jump in their gain to $37,236 from $13,256 a year ago. These gains are occuring because many sellers have been accruing equity in their homes over the last three years and in spite of the home 'flipping' that goes on most homeowners have been keeping their homes at least three years, of late.
Furthermore, while home prices in southwest Florida have been escalating rapidly, the report indicates we will see a leveling out in the near future not only here but nationwide. However, due to the lack of inventory, this phenomenon may be slow in the making. Naples real estate is in high demand and in many areas, such as west of US 41 there is a shortage of new and resale homes that are readily available to the high-end buyers who desire a Naples address.
In closing, while Naples has seen a very definitive stabilization in homes sales and listings don't hold your breath for a leveling off in pricing. There's only one Naples, Florida and buyers have found out where we are!
Mitchell L. Norgart
Gulf Coast International Properties