Now here is some great news for homeowners in Naples Florida. An announcement today from the Naples Area Board of Realtors said that the overall median home price has increased by 17% for 12 months ending in March 2013. After a long period of static and falling house prices, this is outstanding news. The overall pending sales also rose by 4% and the average days a property is listed for sale on the market went down by 8%.
New construction is also on the move in Naples, just driving around you can see the number of new communities that are underway. Such as Mandalay Place, Hacienda Lakes, Rattlesnake Crossing, Burnt Creek. Lantana is growing steadily and Montebello at Coco Lakes has new construction underway.
It has been over four years since the Naples Real Estate Market has seen a growth of this kind, and it shows no sign of slowing down. However, the summer months here in Naples are normally our slow time, so we need to wait to see what happens then. However, I think this upturn has been a long time coming and now that we have some momentum the rise should continue.