Naples, Florida is a small city situated on the Gulf of Mexico in southwest Florida. This coastline destination is perfect for beach-going since it has a good year-round climate as well as some of the most beautiful beaches in the state of Florida. Clean, white, sandy beaches doubled by the crystal clear water creates a spectacular waterfront landscape for the perfect picture with your family or friends, and this is just one of the many pros of beach living.
Naples is also, well known for its high-end shopping, sophisticated dining, and world-class culture. All of the aspects mentioned are part of the day to day activities that people do in Naples, Florida. Whether you are looking for an unforgettable vacation in a top-rated coastal city, or you plan to relocate to the beautiful city of Naples, Florida, this is the place for you.
But as some would say, everything that is good comes at a price. The prices for the exclusive communities in Naples, FL are quite high. The overall cost of living in Naples, Florida is 75% higher than the state of Florida and the national average. The cost of living is mostly influenced by the housing market. The real estate market in Naples offers housing that is 229% more expensive than the national average.
If you are in the lookout for a home in Naples, Florida, don’t try it out on your own. Contact our top real estate agents in Naples FL for some insight into the housing market. Now let’s find out if the housing market in Naples is a buyers market or not?
Standing at the whopping value of $850,000 the median property value in Naples is one of the highest in the country. The housing market in the past years has seen an increase in value of over 10%. With such a high appreciation for houses, the city of Naples is one of the best places to invest. But, be prepared to dig deep into your pockets if you want to buy property here.
Over 50% of homes listed for sale cost more than $1 million. Also, around 50% of homes on the market are condos from which most are valued under $1 million. Less than 10% of homes in Naples cost below the $1 million price point. Naples, Florida is a buyers market which means that there are roughly more homes for sale than there are buyers.
The appreciation that the housing market has seen in the past years has been a huge success for any real estate investor. It is predicted that the trend will continue therefore making the area promising in terms of investments. Because we are faced with a buyers market, you have plenty of options in terms of houses. However, the expensive real estate market in the area will make it almost impossible to find investments at a low price. Also, the red tide that struck Naples, impacted the real estate market. But if you are prepared for a major investment it’s almost certain that you can’t go wrong with the city of Naples, Florida.