Naples Homes Are Pricey, But Worth It
Posted on Sep 29, 2015
Homes in the lower half of the sunshine state make up Florida’s most priciest homes, a Naples Daily News article said. Is there trouble in paradise? That depends on how you look at it. Pricier homes mean more people want to soak up the sun and lounge by the beach. In other words, it means there’s more of a demand. More expensive homes could also mean you get more bang for your buck. Don’t think price. Think amenities.
Single-family Naples homes were the most expensive in the state last month and single-family prices in both Collier and Lee counties also beat the statewide median. More people are flocking to Southwest Florida, and it shows. In August, the Naples-Marco Island ranked fourth in Florida out of 10 metro areas in terms of price growth. Cape Coral-Fort Myers came in just behind, in sixth.
To put it into perspective, single-family homes in August were about $414,000 compared with $359,000, a year earlier–a 15.3 percent increase. In Cape Coral and Fort Myers, at $205,000, they were worth far less, but, up 12.3 percent from $182,500 a year earlier.
Town houses and condos in Southwest Florida, a popular option for seasonal residents, saw a more moderate price growth. In Naples-Marco Island, they were up $240,000 from $225,000 or 6.7 percent. In Cape Coral-Fort Myers, they were up 6.3 percent, from $160,000 to $170,000.
But, despite the rising costs, there is no trouble in paradise. Demand for housing in Southwest Florida remains strong. Those who need financing for a home and are anticipating a rise in mortgage interest rates are eager to buy. Countless folks are seeking to get back into the real estate game or to purchase their very first home. The time to buy is now. The place to discover is Southwest Florida.