Is There Too Much Naples Housing?
Naples is a beautiful, in demand, upscale city located on Florida’s southern Gulf Coast, yet it has one of the state’s highest property inventories in the state.
There are currently about 3,300 listings for existing Naples housing, primarily, single family homes and condos, on Realtor.com. Since there are only 21,000 Naples housing units, 15% of the city’s inventory are existing homes, not including new home sales.
In 2000, there were 16,690 Naples housing units, showing an increase of 4,310 units over the last five years, a testament to the new construction going on in the area and growing outside interest.
Although Naples housing prices jumped 23.6% between March 2004 and March 2005, some real estate watchers believe that Naples high inventory may be its undoing when it comes to increasing property values. However, it is also important to keep in mind that Florida is one of the top seven states in price appreciation.
There are currently about 3,300 listings for existing Naples housing, primarily, single family homes and condos, on Realtor.com. Since there are only 21,000 Naples housing units, 15% of the city’s inventory are existing homes, not including new home sales.
In 2000, there were 16,690 Naples housing units, showing an increase of 4,310 units over the last five years, a testament to the new construction going on in the area and growing outside interest.
Although Naples housing prices jumped 23.6% between March 2004 and March 2005, some real estate watchers believe that Naples high inventory may be its undoing when it comes to increasing property values. However, it is also important to keep in mind that Florida is one of the top seven states in price appreciation.
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