Kimberly-Vincent Luxury Real Estate - January 2020

JANUARY 2020

KIMBERLY VINCENT LUXURY REAL ESTATE

WWW.OURNAPLESFLORIDA.COM // 239-444-8298

A Year in Review HOW DID THE FLORIDA REAL ESTATE MARKET DO IN 2019?

The decade is over — can you believe it? With the 2010s now in our rearview mirror, it would be easy to simply focus on the future and leave the past behind. But that’s not how you succeed in real estate! In my experience, it’s vital to stop at the beginning of each year and survey what happened in the Naples market in the last 12 months. Doing that gives me a better perspective on the “who,” “what,” and “why” of local real estate — in other words, who is moving here, what type of home they’re moving to, and why they’re drawn to Naples. With that knowledge, Vincent and I can help our clients find exactly what they’re looking for in 2020. This year, I thought I’d bring you along for the ride! Below, you can check out the "who", "what", and "why" in Naples for 2019. I gathered the statistics from the Naples Area Board of Realtors, Vincent’s and my personal experiences, and information from other reputable sources. If you’re considering investing in property in Naples, hang onto this information! It just might serve you well in 2020. THE WHO Our small city is growing! According to the latest estimates, more than 22,000 people now call Naples home, and a good share of those residents are seasonal. In the past, new and seasonal movers hailed from Illinois, Ohio, New York, and Massachusetts (in that order), taking Interstate 95 down into Florida.

But now, we’re seeing people migrate across the state as well. New York still tops the list of states contributing to the Naples population, but Illinois now ranks second and Massachusetts third. Most of the Naples population is nearing retirement or already retired, with an average age of 65.6. In 2017, the median household income in Naples was $90,507. THE WHAT The Naples housing market thrived in 2019, enjoying an influx of new listings, high closing rates, and increasing closed home sales for a months on end in late summer and early fall. The median closing price of both single-family homes and condos increased slightly between Sept. 2018 and Sept. 2019, rising from $395,000 to $405,000 and from $242,250 to $245,000, respectively. In that same timeframe, demand for single-family homes (specifically three-bedroom homes) rose sharply while demand for condos remained stable. The number of days homes remained on the market rose slightly across home types, hovering just over 100 by Sept. 2019. BigLittleHomes.com says it’s very likely home prices will continue rising through 2021 because of the desirable Naples market. THE WHY I’ve said it before, and I’ll say it again: There are at least a dozen good reasons to move to Naples! The new movers

Vincent and I work with are often attracted to the Sunshine State because of the balmy weather, reasonable housing prices, tax benefits (we don’t have a personal income tax, estate tax, or inheritance tax here), and an abundance of amenities. Naples, in particular, offers residents incredible restaurants, high-end shopping, and world-famous beaches. The sunsets are stunning, and waterfront property is in high demand — personally, I’d hate to give up the perk of walking across my back yard to my boat dock, and I can see why others would feel the same! The most stunning statistic was one I came across in the Orlando Weekly, which revealed that more than 300,000 people move to Florida each year. That’s more than 800 people per day, and it’s projected to continue through 2022. If you want to get in on the ground floor of what the Sunshine State has to offer and beat the next half-million people to the punch, call Kimberly-Vincent Luxury Real Estate today. Vincent and I would love to show you what makes our beautiful city special.

–Kimberly Alvord

IF YOU'RE THINKING OF LISTING AND SELLING YOUR HOME, CALL US RIGHT AWAY FOR A NO OBLIGATION INTERVIEW! | 1 239-444-8298 Published by The Newsletter Pro | www.TheNewsletterPro.com

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