Naples Florida Real Estate Market for Condos in August 2014
If you are interested in a new condominium you might want to start moving in that direction. At least according to the Naples Florida real estate market for condos in August 2014 report just released by the Naples Area Board of Realtors (NABOR). Each month NABOR compiles the statistics based on property listings that exist in the Southwest Florida MLS, using only those in Collier County, with the exception of Marco Island. These figures are presented in aggregate, plus being broken down between condominiums and single family homes, and then also by different price ranges as well as geographical areas within the county. All of these numbers are then expressed against comparable figures from the same time period as the year before in order to get a clearer picture of the marketplace.
High-rise condos offer wonderful views of the Gulf of Mexico, the cityscape, a golf course or one of the gorgeous Bays. A high-rise is more than 7 stories.
The reason for the urgency regarding the Naples Florida real estate market for condos in August 2014, is not in the closed sale category, as that showed a slight decrease from the prior year. What really is of importance if you are in the market is that the total inventory is down by more than 16% from 2013, and in particular those units listed for less than $300,000 or for more than $2 million. This phenomenon is shared by most geographic areas lead by Naples Beach which experienced a decrease in excess of 28%.
A villa (detached or attached to another) has condo designation. Villas live like private homes with attached garages, private pools etc.
There are a couple of additional factors that should be kept in mind according to the NABOR report when looking for a new residence. The median closed sale price for all units sold during the month jumped by more than 15% from one year earlier. The other statistic of note about the Naples Florida real estate market for condos in August 2014, was that the average days on the market have dropped from more than 5 months one year prior to less than 3 months this year.
A low-rise condo building has between 1 and 3 floors. Some have garages, elevators, pools etc. Views range from a landscaped or preserve view to a lake with a water feature or a golf course.
This blog ws originally posted on September 23, 2014. For current MLS information please click here http://ChrisAndDick.com
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