What’s trending in Naples Real Estate
Sales are up and so are prices.
A recent article in the Business Observer, a newspaper that covers the Florida Gulf Coast from Tampa to Naples, reported that both sales and prices of existing single-family homes and condominiums are seeing gains as high as 15% statewide. President of Florida Realtors®, Andrew Barbar, commented that the positive fundamentals of Florida’s housing sector were sustained in the fourth quarter of 2014. “Our population continues to increase at a rate of approximately 800 people per day moving into the state. Florida’s growing economy is creating new jobs and putting residents back to work.”
The greater Tampa metro area was a hot market to purchase condominiums with sales jumping nearly 18%; Collier county saw a 14% increase in the number of condominium sales and a 10% rise in median prices.
Florida Realtors® reported that those who are currently renting a condominium in Southwest Florida may soon have a more difficult time, as owners are putting their properties back on the market now that prices are increasing. With financing more readily available, down payments as little as 3.5 percent, and some restrictions on condo loans easing, qualifying for a mortgage and owning a home is becoming more appealing. Contact me for the latest real estate market news. Click here for the full newsletter.