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Naples Real Estate
The Naples' real estate market continues to sustain a high level of growth. Because most of the land is situated around Everglades National Park, Naples residential real estate is located mainly on the western edge of the city and along the Gulf Coast. Naples real estate options range from condos and villas to single-family homes and waterfront mansions with prices ranging from under $100,000 upwards to several million dollars..
The median home price in Naples is $299,300; the appreciation rate in late 2003 was 12.2%. Naples Area Multiple Listings Service data reports residential sales for the 12-month period ending November 2003 topped 7,100 properties, compared with sales of slightly more than 5,900 in the 2002 period. The average sale price of a home in the 2003 period was $396,650.
The Naples' real estate market is anticipating continued steady growth in the coming years. As Baby Boomers enter retirement and take more vacations, the purchase of second homes that may become retirement homes is expected to rise. Developers are also targeting younger families with family-oriented communities near schools.
In many Naples neighborhoods, single-family homes range from $500,000 to over $4 million. Condos range from $120,000 to well over $10 million for units in beachfront high-rises and villas. Vintage Naples real estate in the historic Old Naples area includes spacious turn-of-the-century homes.
As you would expect in a city that is called the Golf Capital, Naples real estate includes many golf communities. Condos and patio homes in these communities can start as low as $50,000; single-family homes are generally priced from around $350,000. For more luxury living and estate-sized property, expect prices tags of $5 million to $7 million.
In the upscale community of Port Royal, Naples real estate prices start around $3.5 million and can go up to an astounding $30 million for waterfront estates.
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