Naples Rises from Florida Housing Swamp as Wealthy Buyers Return

Late last week Bloomberg released the news article below, which highlights Naples as a prime Florida location that continues to attract domestic and international buyers.  Figures in the article speak to an increase number of sales for the area given the pent up demand from purchasers along with favorable prices.

I predicted the reaction to this article would get the phone ringing but the response has been beyond what we expected.  As many of you know I only believe information that is substantiated by concrete numbers and the report from the Multiple Listing Service for Naples highlights the following:

On March 24, 2011 there were a total (year to date) of 3,044 sold properties and 81 pending sales (sales that are awaiting to close).  As of  March 31, 2011 at noon a total of 3,383 sold properties and 39 pending sales.

In the past 8 days a total of 339 properties have changed hands between buyers and sellers.   How does this compare to last week or the previous? From February 21- February 28 there were a total of 326 sales, and from March 7th – 14th there were 282 sales which we could argue was a light week due to St Patrick celebrations, since Naples is dedicated to spreading the cheer during this and all holidays!

As a company, we at Downing- Frye continue to see strong sales.  As of yesterday we reported 953 pending sales for the year and while 60% of these sales are under $ 500,000 ,  a good number of million dollar sales are being written.

The positive press simply underscores what many prospective purchasers know; that Naples real estate is a value proposition.   The area offers an unparalleled lifestyle that is now available to a wide array of buyers.

The spring season is usually a time when we see a decrease in activity though I believe this year we are in for a bit of surprise!

As always I look forward answering your questions regarding the Naples real estate market!

CHECK OUT THE ARTICLE:

http://www.bloomberg.com/news/2011-03-23/naples-rises-from-florida-housing-swamp-as-wealthy-buyers-return-to-market.html

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