NAPLES, Fla. - People with money to spend seem to be coming to Naples in droves. And more and more, they're buying homes worth millions of dollars.
The Naples Are Board of Realtors (NABOR) recently released its Annual Market Report for 2014. The numbers show a stunning increase in upscale home sales.
"One thing that really surprised us this year is we did have a 45% increase in the number of single-family homes sold over $2 million," said Brenda Fioretti of Berkshire Hathaway Florida Realty. "And we saw a 19% decrease in the homes we sold under $300,000."
Fioretti says a surplus of inventory in luxury homes doesn't hurt the rise in high-end home sales, and that builders are constructing more.
"That is giving us the ability to sell product anywhere from $200,000 to 4 and 5 million dollar products," Fioretti said.
Realtor Tiffany McQuaid says she expects homes sales for luxury and moderate homes to surge for 2015, thanks to a recent dip in mortgage rates.
"We kind of joke that it's a little bit like free money," McQuaid said. "Technically it's not, but it's a really good opportunity to take advantage of these rates that are at a historic low."
The report by NABOR shows that homes were selling quicker last year than in 2013, with an average of 82 days on the market.
No comments:
Post a Comment