According to a new report out today in the Naples Daily News, Naples single family home prices have risen by nearly 13 percent over last year. This is an incredible jump for a single year, besting most year to year investments (unless of course you invested in Apple in 2001). As with anything, timing is crucial.
For sellers you need to be thinking about whether you want to take advantage of the current rise in home prices, or are you willing to wait till next season and hope for a similar increase? Most real estate professionals believe the current gains are part of correcting the undervalued properties in the area and don’t expect to see the same gain next year.
For buyers, this may be further evidence that its time to make a decision about that property you have been considering or to stop renting. There are still good deals in the Naples market but its not going to get any less expensive. Obviously you don’t simply want to just buy a property out of fear, but you need to consider your options.
As always, each price point in the Naples market is unique and you should talk with someone that knows your specific price point to help you make an informed decision.