The season in South West Florida is over – i.e. where the Snow-Birds from the Snow-belt, Rust belt and any other belt up north come to South West Florida to winter.
Everything has resumed it much less crowded appearance once again. However according to Realtors in the Naples area, things are hotting up in the housing market. The area was once known for its cheap property prices in comparison with better known areas like Miami, however in the last 5 years prices have doubled and tripled or even quadrupled in some parts. Naples now retains a certain exclusiveness – especially in its golfing communities or on the beach front, where single family homes are demolished and the land is sold because it is worth more than the house..these plots make way for multi-million dollar mansions on the beach.
The area however did suffer in the recent market downturn, but buyers are realizing that there are deals to be had. People are in the market for a home or condo – inventory has even dropped in the local MLS, from over 12,000 at the beginning of April to 11,000 now.
The median home price is up from the last quarter of 2006, even though it is down from the previous highs. This shows that there is an upswing in the market.
The local newspaper the Naples News reports on this story.
The market provides an excellent investment for Brits who want to holiday or winter here – the pound is at a 26 year high against the dollar and now may be the best time to take advantage of property in Naples.