NAPLES, Fla. - New numbers are out for the first quarter of 2010 homes sales, and Naples is having a very good start to the year, particularly in high end real estate.
"The million dollar plus market did extremely well," realtor Mike Hughes with Downing Frye Realty tells me.
Although, he says houses under $500,000 are the best sellers, according to new NABOR statistics, high end real estate are selling well too.
"Properties from one to two million were up 100 percent. And properties above two million were up 56 percent," Hughes explains
In fact, many realtors are saying sales for the first quarter have far exceeded expectations, and according to Hughes, the reasons may be a rare combination of events.
"It's almost the perfect storm. You have negotiable sellers, you have very favorable financing."
Plus, prices have dropped considerably and many buyers have been waiting idle.
Like a particular market Alexander Neumann deals with at Engel and Volkers. The german Neumann speak fluently may come in handy for the amount of foreign clients that have been coming his way recently.
"I think there are more people in Germany that know about Naples than about any other place in Florida," Neumann says.
Advertising for Naples has crossed the pond. And for many buyers in Europe, Canada and South America, there is not better time to buy than now thanks to excellent exchange rates.
However, realtors are wary this will last for long. Many think interest rates will go rise throughout the year, but it shouldn't stop them from ending strong at almost 25 percent better than last year.