Home values in Naples, according to Zillow, are up nearly 30% from last year.
Collier County realtor Nick Sweat told WINK News that May or June may be your best bet for a good deal. Around that time, visitors from up north tend to leave the area. And a handful chooses to offload their properties before heading out of town.
Naples homes. CREDIT: WINK News
But buyers shouldn’t expect a drastic decrease in prices any time soon.
Sweat told WINK News buyers looking around in Naples are in luck regarding options.
“The increase in inventory is huge,” Sweat said.
This time last year, Sweat explained less than 850 Naples homes were on the market. But just a year later, nearly 3,000 are up for grabs in the city. And there might not be much of a fight for the house you want.
According to Redfin, the Naples housing market is not very competitive. Homes in Naples receive two offers on average.
“I think as inventory rises, I think prices will, you know, will level off. But I think as long as people are flooding down here, I don’t see the sharp decline,” Sweat said.
Naples homes for sale. CREDIT: WINK News
Sweat said buyers would pay a fair price for a ready-to-go move-in ready property. If not, even if it seems like a good deal, there are some questions to ask.
“If it needs work, one thing buyers really need to look for, and you know, hopefully, their agent knows this check the age of the roof. Are they in a flood zone? Those are two big, big issues with the insurance prices going up. If the current seller has a flood policy already, and they can transfer that to the new buyer, that is a huge, huge bonus. So little things like that. I hope people’s agents are asking these questions and looking out for their buyers,” Sweat said.
Another realtor WINK News spoke with said that over the last seven days in Collier County, there have been more than 300 price drops. This raises Sweat’s point again, ensuring you know what work the home needs and do your homework on the flood policy no matter the numbers.