Thursday, January 15, 2009
Florida MarketWatch: Naples
This week's Florida MarketWatch city is Naples. The first graph shows median prices in Naples currently around $230,000, a 33% drop from this time last year and roughly equivalent to the median price level of late 2005.
Meanwhile, the average price per square foot for homes sold in Naples, which peaked at $528/square foot in summer of 2007, is now closer to $180/square foot. Incredibly, the average price per square foot for homes sold in Naples dropped 48% in the last 3 months alone, meaning desperate sellers are getting more aggressive heading in to the historically strong winter months in Southwest Florida.
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2 comments:
$528 a square foot???? What were you folks thinking!!!!!!!!!!! $180 a square foot? Well, it's better but not quite "there." Try $125, then I'll buy and still be able to sleep at night!
When home prices reach 2003 or below levels, it will be safe to buy.
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