Home Prices on the Rise in Southwest Florida - Again!
Posted by Benjamin Dona on Wednesday, October 2nd, 2013 at 5:29pm.
Prices in the Naples area rose 14.5% from 2012 August to August of 2013 – following that steadily increasing forward movement of the selling prices of homes on the SW Florida Gulf Coast. The national increase in home sale prices was only 12.6 this month compared to a year ago, which indicates how healthy the market is here for sellers. The national home sales price rose for the 18th consecutive month.
In the Cape Coral-Fort Myers region, prices increased 12.6%, still over the national average by a slight amount.
If you exclude the short sales and foreclosures in our region, you still see a very healthy 11.2% increase in sales price. Local Market Monitor, which tracks over 300 real estate markets nationwide, is predicting that the Naples-Marco Island area will increase 37% over the next three years. Next year, 2014, is the year that they predict the greatest increase in year over year price increases, where they project a 15% sales price increase.
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