The secret is out.
National media outlets such as Kiplinger and Market watch highlight our slice of paradise as one of the top retirement spots for investors and high net worth individuals alike. Home builders have ramped up production of homes to keep up with pent up buyer demand and Hertz executives are taking over existing commercial space while their new facility is built in Lee County.
To top it all off the buying season in Naples is off to an early start. Drastic winter weather has descended in some Northern states prompting many seasonal visitors to seek refuge on our coast.
Demand for existing properties has continued to increase as the latest report from the Naples Area Board of Realtors indicates: Naples Area
• Pending sales increased double digits in the $300K+ categories 12-month ending 10/2013
• Closed sales increased double digits in the $300K+ categories 12-month ending 10/2013
• Median Closed Price increased 20% overall 12-month ending 10/2013
• Inventory decreased 18% overall OCT 2012 – OCT 2013
• Average Days on Market decreased 37% overall OCT 2012 – OCT 2013
A Recap of Naples in the News!
Naples-Marco market No. 1 in home price forecast, research firm says – Naples News
That boom you heard is Southwest Florida building industry: It’s back – Naples News
Hertz execs to officially start in SW Fla. on Monday – Naples News
“Naples Ranks #3 of Where Millionaires Live in America” – Kiplinger
“Naples Ranked #2 Among Top Retirement Spots for Real Estate Investors!” – Market watch
“Million Dollar Home Sales Jump in US” – Bloomberg
With all the media frenzy it is important to live up to the hype! At time of press available residential inventory in key neighborhoods remains at an all time low. New home communities on the outskirts of town such as Riverstone, Treviso Bay, Lely Resort and Fiddlers Creek, continue to take reservations at a record pace. Yet the best marker that the buzz is back in Naples is to get out on our roads – they are packed. Dining at any of our lovely restaurants in Olde Naples will require a reservation. Season is here, two months early and the natives could not be more grateful.
Wishing you and yours a healthy and happy Thanksgiving holiday.