About Naples
Location, Location, Location
The old the adage of location, location, location, could not be more true than in Naples. The closer to the Gulf of Mexico, the greater the land’s, meaning the greater the home’s value. The further west you reside, the more you are central to the things that encompasses the Naples lifestyle. Whether it is a single family home or a condo, the land it sits on is an important factor to the overall price.
The value of land within communities away from the Gulf of Mexico can also be very high when loaded with upscale amenities. But, just a little ways from the beach, values can begin to decrease rapidly. The value of land is determined by its general location within Naples, the desirability of a particular community it is located in, and if it is in a good location within that community. That provides the total value of that land. I am happy to help you dicifer through some of this, please give me a call at 239-398-0033 if you would like to discuss specifics.
Three key components help determine the value of that house or condo:
- Overall Naples Location – Closer to the Gulf, beaches, Olde Naples or with boat access, or to the Naples lifestyle, then the higher the value. (See more below)
- Overall Value of the Neighborhood or Community – The values within an upscale gated community miles from the Gulf, can be much higher than in older single family home neighborhood just minutes from the Gulf. The type and extent of amenities offered plays a large part in the overall value of the community.
- Value within the Community – Within a community you could have a home with expansive lake or golf course view, or the same home against a boundary fence just yards away from major highway noise. Views for single family homes and condos can add or subtract value. A view from a high-rise condo building facing the ocean, carries more value than a condo within the same building without an ocean view.
You could buy a $500,000 home where the land it sits on is worth little, in which case the $500,000 buys a very nice spacious home. Or you could spend a $500,000 home, where the building is inhabitable. When looking at the total purchase price of a home, the value of the lot could represent 100% of the purchase price, or represent very little.
Overall Naples Location
In Naples you are never more than a couple of minutes from grocery, shopping, a bank, or other services. But the major shopping districts with national retailers along with a wide assortment of dining and boutique services are concentrated in certain areas.
Olde Naples – convenient to everything Olde Naples has to offer. You can walk to the beach, dining, shopping and much more. But when you need to fill up on basic supplies and groceries, then you are driving north.
Moorings/Park Shore areas – you are on/near the beach and can drive either north, south or east, to take care of your daily shopping and dining needs. Within a 10 minute drive you are within 90% of the shopping and dining areas you would most likely be using on a regular basis.
East of 41/central Naples area – prices are a little lower, but you are not far from everything that makes Naples enjoyable. You would find shopping and dining close by in any direction, and be very happy with the location.
North Naples – you are driving south to take part in what Naples has to offer. But Mercato and Coconut Pointe shops are nearby. There are still plenty of restaurants and things to do nearby.
Golden Gate Estates – you are out in the country in this area. From there you will always be driving towards the east. But you will also own an acre or more of land at a fairly low price. Beaches are a bit of a drive.
South/East Naples, then you will find yourself driving north to get to major shopping and dining areas on a pretty regular basis. There are smaller shopping plazas nearby and accessible options as well.
If you want to go for a walk on the beach each morning you will want to be near the beach. If you want to go out to restaurants most evenings, and spend your days shopping then you will want to be closer to the major shopping, dining and the heart of things. If you mostly want to enjoy the amenities within your own community, and only have a need to visit Naples major shopping and/or dining district on occasion, then you are going to the enjoy values and the newness offered outside the very heart of things.
Every year there is a new infusion of home buyers into Naples from all areas of the country, as well as foreign buyers. As more and more baby-boomers approach retirement years, that number of new buyers each year will grow over time. Based on the overall economic health of the country, the number of new baby-boom buyers can rise or fall for any particular year, but over time that number will continue to grow. As that group grows, then the local workforce will need to grow, to support the housing and service needs.
Naples Home Price Summary
What to Expect
Attribute
This is the lowest priced housing in the area. Most the availability is in former apartment buildings converted to condos. These exist throughout the area and can be as close as 15 minutes to the beach or Olde Naples. Or 45 minute away. There will be a community pools but not much more for amenities. Many will not have covered parking, no gates. Same weather as the rest of the area.
For a single family home in Naples on the beach, the lot is probably in the $5 million plus range, plus the structure that sits on it. Prices exceed $20,000,000 for the package.
The most affordable condos on the beach will be in the $500,000 and 1,200 sq. ft range. Most likely without a beach view. The high side would be in the $5 million plus range with 4,000 sq. ft. or more. In the $1,000,000 range you start to find condos with a nice view of the Gulf and 1,400 sq. ft. or larger.
A small lot in the Olde Naples area will start in $800s range, plus the value of the structure on it can range from $0 to many millions.
In the $300s you can start to find 1 bedroom condos built in the 60’s within walking distance to Olde Naples. For $1,000,000 you can start to find newer 3 bedroom condos.
A condo in a community with golf privileges will start in the mid $100s for a nice golf course. For upper $200s you can have a larger condo on a championship golf course, great amenities, with great view.
Single family homes can range from $400,000 to millions depending on the age and the quality of the community.
In the upper $100s you can start to find 2 bedroom condos with nice views, location and amenities.. As you move up in price you get either larger, or newer, or nicer amenities or a combination.
Condos in upscale communities within the heart of the Naples area can be in excess of $1 million.
Single family homes within a community governed by a homeowners association, can start in the upper $300s. Generally these will within a 30 minutes drive from the beach, the home will be small and the community will have only basic amenities. As you move up in price you get either larger, or newer, or better location or nicer amenities or a combination.
Single Family homes in upscale communities within the heart of the Naples area can be in excess of $3 million.