Ave Maria FL Real Estate Report

The average home selling price at Ave Maria FL for the six-month period ending June 30, 2023, was up 1% from June 30, 2022. While only a slight increase, it is positive news for home prices. 

Some communities in Florida were not able to hang onto the Covid era housing bump. Naples Bath and Tennis (NBT), as one example, had a 14% drop. Ave Maria remained strong, despite high inflation and a rapid rise in mortgage lending rates.

The 2021 to 2022 Covid period was part of the perfect storm for home prices in our area - work from home, the flight from Northern US cities, record low interest rates, and large stock market gains. 

In 2021 there were more home sales, because there were more homes listed for sale. During that time there were owners that wanted to cash out their Covid period home value gains.

2023 Monthly home sales were higher than 2022 for the first three months of the year, and then sales closely followed 2022 monthly sales trend.

The ratio of homes under purchase agreement as a percentage of total homes listed for sale is a good indicator of how strong a housing market is. Generally during the summer, this percentage would be in the 20% range for the Naples area.

Ave Maria at a 35% summertime rate indicates strong sales for this time of year. Naples overall is slightly higher, Olde Naples and $1 million plus home much lower.

Generally, the greater the percentage of home buyers paying cash, instead of a mortgage loan, is an indication of buyer type. The greater the number of cash buyers the more desirable the community is for second home buyers or retirees.

A good example is Del Webb at Ave Maria, a 55+ community with amenities and homes appealing to the 55+. Also true for the National, a bundled golf community, where club membership is included with the home purchase. Owners pay high fees to support the Club and golf course, so owners are more likely to have leisure time.

New home sales have remained very strong during the first half of 2023. A continuing trend from the past several years.

In early 2023 Ave Maria announce that over 4,000 have been built since the beginning. This means 2,000 homes have been built in just over a two-year period.