South Naples’ Impressive Growth
South Naples’ market has been showing great potential for further growth! In August, typically a slow month for Naples Realtors, South Naples defied the usual odds by having the highest increases in pending sales, closed sales and median closed prices of all Naples areas that month. Broker analysts agree that South Naples is gaining popularity due to its investment potential and growth. For example, conventional sales have increased by 10% in the last year. This means many homeowners are able to qualify for and pay for new mortgages. The upper end of the market, meaning homes priced $2 million and above, increased by 58% in the last year as well. This is likely due to new construction in the area and more commercial development at the intersection of U.S. 41 and 951.