Villa Market Gap In Old Naples

11/4/12

 
The Old Naples Villa market seems primed for a very good season. This is primarily due to an extremely active single-family market, both new construction and tear-downs, during the summer of 2012. There are currently only 4 homes left on the market in Old Naples priced below $1m (all built prior to 1971). The average price for a newer single-family home is now in the mid $2m range with a low supply heading into the busiest time of year for sales. This market activity has created a "gap" in the market between villas and single-family homes of the same age and square footage. The average price for a villa is around $1.6m according to the multiple listing system. This is roughly a $1m difference for the same square footage/ age/ location. Several developers in the Old Naples market have noticed this trend and are currently in the process of releasing new products into the market. Most of these new villas are priced pre-construction in the low $2m range. Currently on the market is a very nice villa located only 5 blocks to the Gulf of Mexico and only a very short walk to 3rd Street South and 5th Avenue shopping. It boasts over 3000 sqft with 4 bedrooms + den, large covered Lanai, fenced yard and pool, 2 car garage, and being sold fully furnished. For more information on the Old Naples Real Estate market or consultation on any of the surrounding areas including Port Royal, Aqualane Shores, The Moorings, and Park Shore please contact Adam Carriero at adam@gcipnaples.com or 239-641-3876. Please stop buy Gulf Coast International Properties office on the corner of 3rd Avenue South and Broad.

Please contact Adam Carriero at adam@gcipnaples.com or 239.641.3876. I am available for consultation on the Naples, Florida, market.



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