Luxury Market Keeps Climbing | Naples Market Newsletter January 2015
From Jutta V. Lopez
Luxury Sales Gain Momentum
According to the Naples Area Board of Realtors (NABOR), the luxury market continues to have increased activity. This is a clear welcome sign and shows that consumer confidence is rising in the Naples Housing Market. The NABOR 2014 Annual Report contains evidence showing that the Naples Housing Market is returning to a balance as prices are steadily rising and sales have increased. In general, the market is trending toward a balance of supply and demand and value stabilization. In the high end market, it seems that price stabilization has been reached as luxury home prices have held steady.
-Pending sales for condominiums in the $1 million to $2 million category increased 11%
-Inventory increased 16% for homes in the $2 million and above category
-Overall closed sales:
-$1 to $2 million category increased 21%
-$2 million and above increased 33%
Of course, some locations perform better than others.
Palais Royal, Hillsboro Beach, FLMost Expensive Listing in Port Royal, Naples, FL
Highest Priced Luxury Residences
With the luxury market doing extraordinarily well in Naples, we wonder how it is doing in other hot spots. The most expensive property currently available in Naples is in the Port Royal community: priced at $68,000,000. This brilliant Island-Colonial Mansion has over 277 sq.ft. of direct beachfront, 66 foot pool, imported coral stone, stunning views of the gulf, 5 bedrooms plus den and 8 bathrooms.
In Manhattan, legendary Park Avenue has a new tower rising starting next month- 520 Park Avenue. Many units have already sold pre construction. The tower will house the most expensive penthouse featuring gloriously bright 15 foot cielings, with old world finished and modern amenities...let's not forget the location, Location, LOCATION.
The most expensive listing in America resides in Hillsboro Beach (between Boca Raton and Fort Lauderdale) on Millionaire's Mile. Palais Royal, a 60-sq.ft. Beaux Arts mansion with everything you can ever need and imagine. Features include:22-carat gold leaf entrance gate, $2 million dollar gold-plated marble staircase; it is the first residence to have an in-home IMAX theatre with seating for 18, a high definition 3-D television set surrounded by 1,300 gallon fish tank with live coral and sea creatures, 4,500 sq.ft. infinity-edged pool complete with six cascading waterfalls, spa, putting green and 11 master suites each with their own private jacuzzis. Did I mention the 465 feet of beach on the Atlantic ocean?