Welcome to a new decade in Naples.
It seems like just after the holiday celebrations our streets, restaurants and hotels were brimming at near maximum capacity. Potential buyers started circling open houses at the beginning of the month. Many commented on wanting to get ahead of the “February rush” which is when Naples is in its glory. Buyer momentum seems heighted as the availability of quality inventory remains scarce, a point we outlined months ago in a previous article.
Quality inventory may be in broad terms, in the eye of the beholder yet in our experience in handling a majority of buyer based transactions, people willing to spend upwards of six and seven figures want to walk into a property, unpack and immediately begin living their version of paradise. Regardless of the location and setting, relocating to Naples even for a few weeks a year does not entail swinging a hammer or building from scratch. While there are many who relish the idea of creating their dream home, the majority of buyers in this micro market want to get on with living their lives.
In speaking with our industry colleagues, the overwhelming sentiment is that both buyers and sellers have a positive outlook on the 2020 local real estate market as each segment is eager to move into or move on from their properties. This is a welcomed attitude as just as recently as 2018, many sellers were looking to test the market as an overwhelming number of properties on the beach, in country clubs and in downtown Naples were overpriced.
Today it is evident that well priced properties in move in condition are receiving maximum exposure and attention with many selling ahead of the “rush”. These seven listings illustrate the breathe of the current buyer appetite in Naples as each property has gone under agreement within the past four weeks.
In addition, these real time statistics illustrate the pace of what we are witnessing and sharing with our clients.
Properties Under Contract in Naples Since January 1, 2020
Total Available Naples Inventory (irrespective of interior condition)
All statistical information generated from the SWFLA MLS at time of press.