SPECIAL TO FLORIDA WEEKLY
The high-end home market in Naples has come back to life if 12-month sales at Mediterra can serve as a barometer.
Recently named Community of the Year with homes priced above $2 million by the Collier Building Industry Association, Mediterra in North Naples has posted more the $97 million in sales since its members purchased the club assets and London Bay Homes assumed sales and marketing in December 2009. Since that time, the community has recorded 64 sales of singlefamily homes, villas, coach homes and individual home sites. In 2009, 33 sales totaled $47,007,873.
“This demonstrates that high-end communities have not lost their appeal with affluent homeowners who still see Naples as a premier primary or second home destination,” London Bay President Mark Wilson says about the recent numbers.
From December 2009 to December 2010, the sale of 54 homes and home sites at Mediterra totaled $86,774,833. There are also 10 pending sales in the community that total $10,850,300. Of note, 21 of the 64 sales, representing more than $39 million, were sales of builder models or newly contracted construction.
Mediterra includes two Tom Fazio-designed golf courses, a 25,000-square-foot clubhouse, private beach club, sports center with tennis and fitness facilities, three community parks and eight miles of walking and bike trails.
“Sales center traffic continues to improve, with a high percentage of the visitors in a decision-making frame of mind,” Mr. Wilson adds. Through October, he adds, the sale of homes priced over $1 million is up 40 percent in Collier County. “That, too, is a positive trend as we move into season.”
Real estate analyst Michael Timmerman of Fishkind & Associates agrees. “I think many of the buyers who are looking at the higher end of the market are also rebuilding their portfolios,” he says “As their confidence increases, so will their appetite for higher end homes, leading to a nice rebound in this sector.”
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