Naples Luxury Real Estate Trends
Naples Luxury Real Estate Trends
The Naples Luxury real estate market has evolved over the past year and a half due to a shift in lifestyle choices and housing needs for today’s luxury home buyers. While the past few months have seen the return to a more normal level of activity, prices are still trending upwards which is largely due to the limited inventory.
In popular luxury markets such as Naples, with little or no inventory, compromise may be the only option. While most luxury buyers would prefer a modern home that’s move-in ready, they are few and far between. However, even though it’s not your first choice, ultimately buying a luxury property or fixer-upper may be your best option in the long run.
Buying a property in a prime location and investing in home improvements allows affluent buyers to keep up with price appreciation. Then, when inventory improves and the right property comes along, luxury buyers will be able to take advantage of their home appreciation to move up into their ideal home.
Shift In Luxury Buyer Priorities
Last year, the larger the home the better. Buyers were looking for more space, privacy and safety no matter the cost. One of the major motivators for buying a second, third or vacation home was been the ability to work from home or anywhere.
Since remote working is the new normal, people continue to seek out homes with a home office. Other luxury amenities in high demand include a fitness center, home theatre and the ultimate outdoor oasis with a large lanai, outdoor kitchen, swimming pool and spa and don’t forget the spectacular view.
A notable change over the last 6 months, is a shift towards mid-sized homes which are starting to become the sweet spot for luxury buyers. There’s still plenty of space, but not so much space they become overwhelmed.
Finally, diversity in location has been important to luxury buyers who have purchased second homes in a resort town such as Naples as well as a home in a remote mountain town including Aspen or Steamboat.
Real Estate Investment Trends
According to the annual Knight Frank wealth report, interest in Resort or Coastal areas were the most commonly desired property types over the past year. Additionally, the report predicted multiple investment trends of Ultra High Net Worth Individuals (UHNWI) for 2021.
One of which is the view residential real estate will dominate real estate investments in part due to the volatile equity markets and inflation fears.
Other reasons luxury buyers are attracted to Florida, we are a very tax friendly state. Not only is there no state income tax, we also do not have estate or inheritances taxes. In Southwest Florida, if you designate your Florida home as your primary home, your property taxes will also be low compared to most other states.
Naples Luxury Real Estate Trends for August
For the past 12 months ending in August overall there was a 96.3 percent increase in the number of homes sold above $2 Million. Single family homes in this price category saw a 102.1 percent increase and condos saw an 82.9 percent increase.
For Luxury homes priced between $1 million and $2 million the overall increase in the number of closed sales was 95 percent.
Naples continues to be a top destination for luxury home buyers. If you are considering buy a home in the area, let’s connect to discuss your options.
Naples Luxury Real Estate Sales in Luxury Golf Communities For August
- $7,000,000 – 9779 Bent Grass Bend in Estates at Bay Colony with 8,458 square feet
- $6,700,000 – 1125 Dormie Dr. in Estates at Bay Colony with 6,768 square feet
- $5,450,000 – 1254 Waggle Way Estates at Bay Colony with 6,537 square feet
- $5,350,000 – 7575 Pelican Bay Blvd. Pent House Unit 1904 in Pelican Bay with 5,320 square feet
- $5,075,000 – 8231 Bay Colony Dr. Unit 1701 in Pelican Bay with 3,380 square feet
- $4,995,000 – 1460 Anhinga Pt. in Estuary at Grey Oaks with 5,950 square feet
- $4,900,000 – 2593 Escada Dr. in Tiburon with 6,017 square feet
Are you ready to buy your own slice of paradise?
If you are buying a home in a golf community, you will find it’s more complex than a typical home purchase. As you can probably imagine, there are significant differences between communities. There are many different fee structures, membership options, pet restrictions, demographics and many other details that apply to the Southwest Florida golf communities.
How often do you want to play? How much time will you send in Naples? Are you planning to rent your property? What type of amenities are important to you and your family? How much space do you need?
We can help you you navigate more than 150 different golf communities in our area. Based on your needs, we’ll provide a list of golf communities that will match your criteria and help you find the perfect home in the right community for you.
Also, if you are considering new construction, remember the contractor’s real estate agent represents the builder’s best interest, not yours. There is no cost to you to have an agent represent you. In fact, I may be able to help you save money and negotiate for extras which the builder may not let you know about.
From the beginning of your journey to the end, we will handle all the details to make your real estate transaction smooth and stress free. Contact us today to get started.
Nationwide Luxury Real Estate Trends
Considering Selling Your Naples Home? Why Work with the Naples Golf Guy Team
It is a seller’s market so why should you work with a realtor? Do you have the time? There are over 180 actions required to successfully complete a real estate transaction. From scheduling showings, contract negotiations, organizing inspectors, attorneys, title companies and a mountain of paperwork.
In today’s rapidly changing market, it’s you’ll want to be sure you have priced your home correctly to capture the largest return on your investment. You also need to be sure you have a digital game plan and an effective online marketing strategy when selling your home. One of the ways your agent can help with this is to make sure your listing photos and virtual tours stand out from the crowd, truly giving buyers a detailed and thorough view of your home.
So, if you’re ready to move forward, virtual practices may help you win big when you’re ready to sell. While abiding by state and local regulations is a top priority, we can help make your sale happen. We know exactly what today’s buyers need, and how to put the necessary digital steps in place. For example, according to the same survey, when asked to select what technology would be most helpful when deciding on a new home, here’s what today’s homebuyers said, in order of preference:
- Virtual tour of the home
- Accurate and detailed listing information
- Detailed neighborhood information
- High-quality listing photos
- Agent-led video chat
- Paperless transactions
Now more than ever, an agents presence on the internet is critical to selling your home. Let’s connect to talk about how we would leverage new real estate technology such as virtual tours and high end photography, e-mail marketing, social media marketing and much more.
Finally, if you live in a golf community in southwest Florida, you are competing with more than 150 other golf communities. Contact us today to learn how your home or condo stacks up against the competition and how we can position your property to sell quickly and for a fair price.
The NaplesGolfGuy Team offers private client advisory services with an emphasis on detail. Professionalism, integrity and discretion are not goals, they are standards. We are dedicated to exploring, experiencing and navigating the very best in luxury living for our clients.
Contact Matt: Matt@NaplesGolfGuy.com
September 25th, 2021 Posted by Matt