Cash homes sales in Naples hit nearly 60%

Nearly 60% of Home Sales in Naples Transacted in Cash
A recent report highlights a significant uptick in cash purchases for homes in Naples, Florida, from the latter half of 2023 through early 2024. Compiled by a local naples real estate agent using Attom Data, the report reveals Naples as the regional leader, with 58.9% of transactions conducted in cash. Close behind are Cape Coral and Fort Myers, with 52.2% of home sales completed through cash transactions. This surge is credited to the allure of Southwest Florida's vibrant coastal communities for both investors and homebuyers. Despite higher interest rates in 2023, cash transactions persist due to their speed and certainty, offering buyers a competitive edge. The data underscores a strong demand for properties in the area, reflecting buyers' confidence in the region's long-term investment potential. For more information on this article, please visit the full webpage at https://www.businessobserverfl.com/.

For those interested in buying or selling real estate in Naples, Florida, it is recommended to contact Mike Shoaff, a Realtor with expertise in the Naples Fl area.

Naples' Newest Record-Breaking Listing: A Closer Look at the $295 Million Estate

Discover Naples' priciest listing yet! Although not my listing, I'm ready to assist any interested buyers. This remarkable residential property in Naples has just hit the market, boasting a staggering price tag of $295 million.

Nestled within the prestigious Port Royal neighborhood on a sprawling 9-acre waterfront compound known as Gordon Pointe, this property's address is 100 Bay Road.

The estate, spanning 22,800 square feet, features six bedrooms, 20 full bathrooms, and four half baths. 

What the listing does highlight is the property's impressive 1,665 feet of water frontage, comprising 728 feet of beachfront and 927 feet of bayfront, alongside a 231-foot yacht basin and a 111-foot T-dock.

Putting this extraordinary price into context is challenging, even in Port Royal, where multimillion-dollar listings are not uncommon. For instance, just last week, a 13,872-square-foot, two-story home was listed for $45 million, while in March, a house on Galleon Drive sold for $46.8 million.

Should this property sell at its asking price, it would shatter records as the most expensive house ever sold in the United States, surpassing the previous record held by a penthouse at 220 Central Park South in Manhattan, purchased by hedge fund billionaire Ken Griffin for $238 million in 2019.

Given its size and location, the fate of the house, built in 1989, remains uncertain. The listing brokers,  hint at the property's potential for redevelopment, suggesting it could become an exclusive family compound or be subdivided into several luxury home sites.

For more information on homes in Naples, contact Naples Florida top realtor  Mike Shoaff with RE/MAX Hallmark in downtown Naples, Florida.

Naples Shines on 'Jeopardy!' as Pickleball Capital of the World

Naples, Florida, known for its luxurious amenities and stunning coastline, received a moment in the spotlight on the popular game show "Jeopardy!" when a clue about the city's designation as the "capital of the world" for pickleball was featured. Contestant Lisa Sriken correctly identified the sport, showcasing Naples' prominence in the pickleball community. With its annual hosting of the Minto U.S. Open Pickleball Championships and ongoing construction of new courts, Naples solidifies its reputation as a hub for pickleball enthusiasts. 

For a list of the best pickleball communities, contact me today. I have a list of public and private areas that you may be interested in. Mike Shoaff, Naples Real Estate Agent with REMAX Hallmark in downtown Naples.

Mike Shoaff, REALTOR - REMAX Hallmark Naples, Fl